1. Money Matters! Funding for students starting in 2012 Kate White Advice and Welfare Service Student Services Department

2. Tuition fees Student loans Grants Terms and conditions of the student loans

3. Tuition Fees for 2012 Tuition fees for full-time degree courses from £6,000 - £9,000 per year for EU and UK students UWE will charge £9,000 tuition fees

4. Student Loans Fee loan No up-front payment of fees required. Fee loans available to cover the fees being charged. Maintenance loan Up to £5,500 if living away from home and studying outside of London. Some of it will depend on your family income

5. Money you don’t pay back! Maintenance Grant £3,250 Non repayable depends on household income Students from families with incomes up to £42,000 will be entitled to a partial grant.

6. Household income Maintenance grant Living cost loan Total living cost support £25,000 or less£3,250£3,875£7,125 £30,000£2,341£4,330£6,671 £40,000£523£5,239£5,762 £50,000£0£4,788 £60,000£0£3,788 Over £62,500£0£3,575

7. Part-time study Proposed: fees set as % of full-time fee Full time fees £9k Part-time study 50% of FT course = £4,500 Fee loan (non income-assessed) No funding for living or course costs

8. Disabled Students’ Allowances –not dependant on family income –do not have to be repaid. –available help if you incur extra costs because of a long-term health conditions, mental health condition or specific learning difficulty such as dyslexia. –paid on top of the standard student finance package.

9. UWE Bursary 2012 –New for 2012 to help first-year English students from low income families –Part of the National Scholarship Programme –514 Bursaries of £3,000 in the first year –500 Bursaries of £1,000 in the first year –Priority given to Access students, disabled students, Care Leavers, Refugees and very low income students –Progression bursaries in subsequent years of study

10. Student loans Level of debt Interest rate repayments

11. Student loan debt - 3 year degree £9k fees Fee and maintenance loan = £38,625 Part-time study with £9k fees Fee loan = £27,000

12. Interest rates Retail price index (RPI) + 3% will be charged » while you study (full-time) » for the first 3 years of study (part-time)

13. Student loan debt - 3 year degree £9k fees Fee and maintenance loan = £38,625 + Interest £3,476 Part-time study with £9k fees Fee loan = £27,000 + Interest £600 after 3 years of 50% study

14. Liability to repay and the repayment threshold Liability to repay starts the April after you graduate (April 2016) Liability for repayment as a part-time student is the April after 3 years of study Student has to earn more than £21,000 to repay the loans The threshold will increase by the rate of inflation from April 2017 for all students

15. Repaying the loans Repayments are 9% of earnings above £21,000 regardless of the outstanding balance Deducted by Revenue and Customs Any debt is wiped after 30 years of liability to repay

16. Gross Taxable Income Monthly RepaymentsAnnual repayments £26,000£37.50£450 £31,000£75£900 £36,000£112.50£1,350 £41,000£150£1,800 £46,000£187.50£2,250

17. Interest rates once liable to repay Income under £21,000 = Retail Price Index Income between £21,000 - £41,000 RPI + 1-3% Income over £41,000 RPI + 3%

18. Gross Taxable Income Monthly Repayments Annual repayments Interest rate RPI = 1.5% Estimated annual interest on £38,625 £26,000£37.50£450RPI + 0.75%£869 £31,000£75£900RPI + 1.5%£1,158 £36,000£112.50£1,350RPI + 2.25%£1,448 £41,000£150£1,800RPI + 3%£1,738 £46,000£187.50£2,250RPI + 3%£1,738

19. Other Issues Early repayment penalties Mortgages and credit rating Financial Capability

20. Key messages You don’t need to have cash to go to uni Earn under £21k and you’ll never repay After 30 years, any remaining debt is wiped Monthly repayments are the same regardless of the amount owed Student loans do not go on credit files or affect you getting a mortgage Many people will not pay it all back

21. Making the decision about University Career Money Delaying studies Part-time study

22. More information UWE website – www.uwe.ac.ukwww.uwe.ac.uk Direct.gov.uk - www.direct.gov.uk/en/EducationAndLearning/UniversityA ndHigherEducation/index.htm www.direct.gov.uk/en/EducationAndLearning/UniversityA ndHigherEducation/index.htm Martin Lewis http://www.moneysavingexpert.com/http://www.moneysavingexpert.com/

23. Money Matters! Funding for students starting in 2012 Kate White Advice and Welfare Service Student Services Department