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University Financial Support 2012/13

University Financial Support 2012/13. Jonathan Croall j.p.croall@hud.ac.uk. Student Finance. Tuition Fees - Graduate Contribution National Scholarship Scheme Maintenance Grant Maintenance Loan. Tuition Fees - Graduate Contribution. Tuition fee set at £7950, placement year is £500

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University Financial Support 2012/13

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  1. University Financial Support 2012/13 Jonathan Croall j.p.croall@hud.ac.uk

  2. Student Finance • Tuition Fees - Graduate Contribution • National Scholarship Scheme • Maintenance Grant • Maintenance Loan

  3. Tuition Fees - Graduate Contribution • Tuition fee set at £7950, placement year is £500 • NO STUDENT NEEDS TO PAY WHILE THEY STUDY • Government pays all tuition costs while the student studies • Graduate repays based on earnings through tax system

  4. National Scholarship Scheme • £3000 award per student in total • Fee reduction of up to £3000 and/or a cash bursary limited to a maximum of £1000 • University offered 220 scholarships from the govt and the university will match this to create 440 in total. • Proposed criteria to qualify is household income of less than 20k and more than 320 UCAS points.

  5. Grants – for living expenses • Means tested non repayable grant of up to £3250 from the government. • Maximum grant payable for household incomes below £25,000. • Partial grants for incomes up to £42,600

  6. Student Maintenance Loans (2012/13) • Available to all full time students • London - £7675 • Elsewhere - £5500 • Parental home - £4375 • Maintenance loan is reduced by £0.50 for every £1 of maintenance grant received. • 28% of Maintenance loan is means tested for incomes above £50,000.

  7. Paying it Back

  8. Graduate on £25k

  9. How to Apply Student Finance England • Online application form – available from December. • Who, where, what. • Income assessment

  10. Sources of Student Finance • Maintenance Loans • Grants • Part-time/vacation work - “job shops” • Savings • Family

  11. Key Messages University education is free at the point of study. Repay based on future earnings – graduate contribution Repayment threshold more generous than current system. Student is investing in their future.

  12. Further Information • Seek advice and guidance • www.bis.gov.uk • www.slc.co.uk • www.direct.gov.uk/studentfinance

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