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Student Finance

Student Finance. Changes to fees in 2012 What finance is available Applying for finance. Government changes to Higher Education. Teaching budgets to be cut by 82% - from £4billion to £700million over 4 years. For some courses, public funding is being removed entirely.

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Student Finance

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  1. Student Finance • Changes to fees in 2012 • What finance is available • Applying for finance

  2. Government changes to Higher Education • Teaching budgets to be cut by 82% - from £4billion to £700million over 4 years. • For some courses, public funding is being removed entirely. • New £150m National Scholarships Scheme for “bright potential students from poor backgrounds”.

  3. Proposed changes - Tuition Fees • Universities can charge a basic threshold of £6,000 per year for tuition fees (current max. = £3,375) • In “exceptional cases”, some universities will be able to charge up to £9,000, on approval by the Office For Fair Access (OFFA). by 19 April deadline of the 80 universities that had confirmed their 2012 planned fees, nearly 70% want to charge the full £9,000 for all or some courses

  4. Proposed changes - repayments • No repayments until after you are earning £21,000 (currently £15,000) • Repayment = 9% of income above £21,000 • All outstanding repayments written off after 30 years. Interest rates: RPI (inflation) + 3% during study

  5. Proposed repayments

  6. How to apply Logon to www.direct.gov.uk/sf-apply and register When to apply Registration opens in March When you receive your money Payments are made after you have started your university course not before - so make contingencies !

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