1. STUDENT FINANCE MYTHBUSTING www.higherhorizons.co.uk

2. Aims of the session  What is student finance?  What can I get?  How do I get it?  What happens after I graduate?

3. What do you know? True or False?  I have to apply for student finance for each year of my course  I have to pay the university fees from my own money  Student finance gives me money to pay for my living costs like food and housing  Some universities might give me money I don’t have to pay back  When I graduate I have to pay it all back straight away  When I get a job half my money goes to student finance each month  If my parents don’t have loads of money I can’t afford to go to university

4. What is student finance?  Money you borrow from the government to pay for university  Everyone who is eligible can get it, you just have to apply  Up to £17,200 a year available for tuition fees and living costs (2016/17)  You get a bit less if you live at home and a bit more if you go to London  You pay it back once you start working, but only if you’re earning over £21,000 a year

5. What is student finance?  Tuition loan  You never see it!  Paid straight to your university  Maintenance loan  Up to £8,200 a year paid to you (less if living at home, more if living in London) (2016/17)  Used to pay for everything you need during the year, like housing, food, transport, books…

6. How do I get it?  First apply for your university courses online through UCAS  Then apply for student finance online before you start your course  You do not need to have a confirmed place at university to apply for student finance!  You need to apply every year for student finance

7. What happens after I graduate?  You only start to pay it back after you earn over £21,000 a year  Then you only pay a % of the bit above £21,000  So if you earn £22,000…  £22,000 - £21,000 =  9% of £1,000 =  £90 a year or £7.50 a month or £1.88 a week!

8. Other financial support  Bursaries  Available from some universities if you meet certain criteria e.g. students from the local area  Scholarships  Available from some universities if you meet academic criteria e.g. if you get AAA  Always check with the university you want to go to  Does not have to be paid back!

9. What do you know now?  I have to apply for student finance every year  I have to pay university tuition fees from my own money  Student finance gives me money to pay for my living costs like food and housing  Some universities might give me money I don’t have to pay back  When I graduate I have to pay all the loans back straight away  When I get a job half my money goes to student finance each month  If my parents don’t have loads of money I can’t afford to go to university

10. Thanks for listening You are now a student finance expert!

11. Any questions?