1. Student finance

2. Contents Financial overview Tuition fees 2010 Means-tested grant Tuition fee loan Bursaries Scholarships Student loans Budgeting Supplementary income Useful contacts

3. Financial overview Tuition feesLiving costs Means-tested grant Tuition fee loanMaintenance loan Bursary from university Scholarship from university Supplementary income

4. Mechanics of the form All financial support is initially applied for online Students will need to visit the Student Finance England website and register their details to begin an application The application will be live from November 2009 You will need to provide either your passport number (which is input into your form) or an original copy of your birth certificate Any further forms that you may require will be sent to you after you have submitted your initial application, in many cases this is the only form that you will need to complete

5. Tuition fees Up to £3290 per year (2010 fees, this figure will rise each year with the rate of inflation) Fees may vary between courses and universities You can study now, pay later Majority of fees paid either by: -Tuition fee loan -Means-tested grant.

6. Tuition fee loan Available to all applicants Non means-tested £3290 available – amount granted will be linked to your course cost Paid directly to the university by Student Finance England Repaid by the student after graduation

7. Means-tested grant Up to £2906 per year from Student Finance England Grant = non-repayable! Means-tested (based on household income) -Less than £25,000 per year = full grant of £2906 -Between £25,000-£50,020 per year = variable grant < £2906 -More than £50,020 per year = no grant entitlement Paid in three instalments (at the start of each term) Can spend on living costs/tuition fees

8. Bursaries A bursary is non-repayable money that you qualify for Qualification criteria and amounts differ from university to university, but are often based on the amount of means-tested grant being received, your household income, or your home postcode Information about an individual university’s criteria and awards can be found on their website and in their prospectus Money can be spent on living costs/tuition fees

9. Scholarships A scholarship is non-repayable money that is awarded for achievement (usually academic) Qualification criteria and amounts will differ from university to university but can often be based on UCAS points, grades achieved or a specific skill, for example a musical or sporting achievement Information about an individual university’s criteria and awards can be found on their website and in their prospectus Money can be spent on living costs/tuition fees

10. Example of funding Bursaries - £400 bursary for all students receiving any amount of Maintenance Grant - £250 bursary for all students with a permanent home address within a 30 mile radius of the campus Scholarships - Academic scholarship worth £1000 for all students achieving 280 UCAS points - Creative Industries scholarship of £1500 for students applying for creative courses and achieving 300 UCAS points Some universities will award bursaries and scholarships for every year of a student’s study with them - Some universities will allow a student to qualify for multiple bursaries and scholarships - Check individual websites and prospectuses for application details

11. Student maintenance loan To cover living and study costs 72% non means-tested 28% means-tested. What you get depends on: -Household income* -Where you live and what you study -The year of the course that you are on. Paid in three instalments direct to the student * Household income is the gross income (before deductions of tax and NI contributions) of the parent(s) that you live with (including that of any partner or step parent who also lives with you). It may also include any income that you or a sibling earns on which they pay tax (a minimum salary of £6035 a year).

12. Maintenance loan figures 2009/10

13. Repayments of tuition and/or maintenance loan Starts in the April after graduating Loan repayments linked to your salary: - Less than £15,000 = no repayments - £18,000 = £22.50 a month (£5.19 a week) - £20,200 = £37.50 a month (£8.65 a week) Interest linked to the rate of inflation Repayments remain fixed regardless of amount borrowed Debt belongs to the student and not their parent(s) After 25 years, remaining debt is cleared by the government

14. A typical example of a weekly budget – fixed costs Rent£57 Electricity/gas£10 Water rates£2 Contents insurance£4 Food and toiletries£30 Books and stationery£5 Travel£11 Laundry£4 TV License£2 Total£125

15. A typical example of a weekly budget – costs you control House phone£3 Mobile line rental£7 Clothes£11 Socialising£30 plus Total£171

16. Supplementary income Part-time job Work during holidays Work placements (a chance to save) Banks – overdrafts Parents

17. Useful contacts direct.gov.uk/studentfinance 0845 300 5090 8.00am-8.00pm Monday to Friday 9.00am-5.30pm Saturday and Sunday unimoney.direct.gov.uk studentbeans.com nus.org.uk uni4me.com merlinhelpsstudents.com