Student Finance 2012

1. StudentFinance2012

2. Session Contents • Student Finance 2012 • Research & Application • Repayments

3. General Eligibility

4. Personal Eligibility • Settled status – can live in the UK without restriction • Ordinarily Resident in England on the first day of the first academic year of their course • Been living in the UK for the three years immediately prior to this date • Tuition fee support only, without meeting residency requirements, for European Union/European Economic Area students • Exceptions exist for certain groups of students

5. Personal Eligibility - Exceptions • If the student, their spouse, civil partner, parent/stepparent are recognised by the Government as a refugee and lived in this country since this status was awarded • If the student, their spouse, civil partner, parent/stepparent, have been granted Humanitarian Protection to stay in the UK by the Home Office, resulting from a failed asylum application • If student is the child of a Swiss national or Turkish worker, and been ordinarily resident in the EEA and Switzerland/Turkey for the three year period immediately before the first day of the first academic year of their course

6. Course/University/College Eligibility Course Eligibility • Courses must be of a certain type and be leading to a recognised higher education qualification. Including; • First degree (BSc, BA, Bed) • Foundation degree (FdA, FdSc, FdEng) • Higher National Diploma or Higher National Certificate (HND/C) • Diploma of Higher Education (DipHE) • Postgraduate Certificate of Education (PGCE) University or College Eligibility • The HEI must be publicly funded (by UK Government) • or Privately funded but running individual courses • receiving public funding as designated by the Government

7. Previous Study Rules • General rule – Tuition fee loan available for full length of the student’s course, plus one additional year if needed • If a student has previously studied in the UK, they may still be eligible for maintenance loan support only if they do not have an equivalent or higher level qualification or studying an ‘exception course’ leading to a professional qualification* • Individual circumstances of the case (including any extenuating circumstances) can affect eligibility *Medical Doctor, Dentist, Veterinary Surgeon, Architect, Social Worker, Course attracting an m/t Healthcare Bursary (NHS course)

8. StudentFinancePackage

9. Student Finance Package Tuition Fee Loan Student Finance Package Maintenance Support Additional Support Scholarships & Bursaries

10. Tuition Fee Loan

11. Tuition Fees • Universities/Colleges of HE to charge a fee level of • £6,000 to £9,000 per year but need to demonstrate • increased efforts in widening participation and justification • for the higher levels* • The levels set will be decided by the university including • if it charges at different levels for different courses • The average for 2012 is thought to be around £8,657 up • from the initial £7,500 expected government average level • (Independent & Times Higher Education) *Presented in OFFA approved Access Agreement

12. Tuition Fee Loan Tuition Fee Liability Tuition Fees will be paid to HEI at three times in the academic year Interest on the loan will be charged from day payment is made to the university/college not from the liability date

13. Tuition Fee Loan Paying the Tuition Fee • Eligible students will not have to pay up front for their • tuition • The non means tested tuition fee loan (not dependant on • household income) is available to cover the fee levels • set by the HEI (up to £9000 max) • The Student Loans Company will lend the requested • amount and pay the university/college in instalments • across the academic year • Not compulsory: students can also • Pay full fees themselves; or • Pay part of the fees and take tuition fee loan for the rest

14. Tuition Fee Loan Sandwich Years/Private Providers • Students on Sandwich years/study years abroad will be subject to lower fee limits • 2012/13 levels, up to a basic amount of £3,000 or up to a £4,500 higher amount for students at institutions with an accepted access agreement • Students at Institutions not receiving funding from HEFCE but offering courses designated by BIS will be entitled to borrow up to £6,000 to cover their tuition costs* *If the institution is charging more, the student will have to self-fund the remainder

15. Tuition Fee Loan Part Time Students • From September 2012 new part-time students can apply for a non means tested tuition fee loan which replaces the existing means tested fee and study grant • The maximum universities or colleges can charge for part-time courses is £6,750 a year* • The amount charged will depend on the intensity of their course (Minimum 25%; Maximum 75%) • Part-time students will not be entitled to a loan or grant towards living costs but can access Disabled Students Allowance (DSA) *Students starting designated P/T courses provided wholly by a private institution can apply for up to £4500 in tuition fee loan

16. Maintenance Support

17. Maintenance Support Maintenance Loan • The majority of the repayable maintenance loan will be available to all eligible students (if required), with 65% • of the total loan amount being Non Means Tested • (Not based on household income) • The amount of maintenance loan available will be • linked to where a student lives and studies

18. Maintenance Support Maintenance Loan Specific Amounts • Students attending their course beyond 30 weeks, additional means tested loan is available for each additional week of study

19. Maintenance Support Maintenance Loan Changes in maintenance loan levels For income exceeding £42,600 and up to £42,875 the maximum loan will be awarded (If applied for)

20. Maintenance Support Maintenance Grant • The maximum non repayablemaintenance grant level in • 2012 is £3250 • Unlike 100% of the tuition fee loan and up to 65% of the • maintenance loan, the grant a student receives is solely • dependant on household income levels (100% Means Tested) • Students from households with income of up to • £25,000 will be entitled to the maximum £3,250 • Students from households with incomes of up to • £42,600 will be entitled to a partial grant If awarded the grant, the amount of maintenance loan entitlement is reduced by 50p for every £1 of grant the student is entitled to (up to £1,625)

21. Maintenance Support Combined Support Student living away from home outside London 2012/13

22. Tuition Fee Loan Maintenance Support Special Support Grant • Replaces the Maintenance Grant for students who can claim income-related benefits. Some examples: - • Lone (single) parent • Student with a partner who is also a student and one or both are responsible for a child under 20 who is in full-time education below higher education level • Student with a disability who qualifies for the Disability Premium, Severe Disability Premium or income-related Employment and Support Allowance • If awarded the Special Support Grant, the student’s maintenance loan entitlement will not be reduced

23. Scholarships & Bursaries

24. Scholarships & Bursaries Scholarships & Bursaries • Bursaries: • May link to National Scholarship Programme • Depend on circumstances • Vary by institution • Scholarships: • Academic, sport or music • Subject specific or generic • Vary by institution

25. Scholarships & Bursaries Real help for students with the costs of study. Options could include: • Fee waiver or discount • Free foundation year • Discounted accommodation or other service • Scholarship/bursary – capped as a cash award at £1,000. National Scholarships (NSP)

26. Additional Support

27. Additional Support Disabled Students Allowance • Help towards the additional costs that a student may face as a result of their impairment, health condition or specific learning difficulty • In addition to the standard student finance package • Does not have to be repaid • Is not affected by the household income • Looks at the specific needs of the individual in relation to their studies

28. Additional Support Disabled Students Allowance DSA Allowance rates 2012/13 Full and part-time disabled postgraduate students can receive up to £10,260 a year

29. Additional Support Additional Finance • Childcare Grant • Non repayable grant to assist with registered/approved • childcare costs for students with dependent children aged • under 15 at the start of an academic year • (Under 17 if they have special educational needs) • The amount the student receives will be dependent on • household income and based on up to 85% of actual • childcare costs during term times and holidays • The maximums available are: • £148.75 per week for one child • £255 per week for two or more children

30. Additional Support Additional Finance • Adult Dependants’ Grant • For students with a partner or another adult who is • financially dependent on them (cannot be an adult child). • The amount students receive is dependent on their • household income • Where applicable, the maximum grant in respect of a spouse or civil partner will be £2,642 • Where there is no spouse or civil partner, a student may be eligible for this grant in respect of one adult dependant • whose net income does not exceed £3,796

31. Additional Support Additional Finance • Parents’ Learning Allowance • For help with course-related costs for students with • dependent children • The amount received will be between £50 and £1,508 • dependent upon household income • Access toLearning Fund • Additional source of funding available to students through • their HEI if facing financial hardship, need extra support with course/living costs or considering leaving higher education due to financial problems

32. Student Research

33. www.yourfuture.direct.gov.uk

34. www.direct.gov.uk/studentfinance

35. Scholarship/Bursary Information www.direct.gov.uk A-Z Search of National Scholarships offered by individual HEI’s www.ucas.com Course Search includes: Information on fee levels and links to HEI bursary & scholarships

36. Social Media Given the increasing value of social media in communicating key information SFE has a presence on Facebook and Twitter, providing students various ways to interact with us http://twitter.com/sf_england http://www.facebook.com/SFEngland

37. SFE on Facebook Ask Questions/ Live Q&A Forums Fun Applications Information & Support Link to Help Videos

38. Customer Helpline (for students & sponsors) Help with applications Info on student finance But check website first! 8am to 8pm Monday to Friday 9:30am to 5pm Saturday & Sunday 0845 300 5090

39. Online Application Process

40. Applications • Applications should be made to SFE as soon as possible • to ensure payments can be made at start of the academic • year • Applying online through www.direct.gov.uk/studentfinance • is the quickest and easiest method • No need to wait for confirmed offer from a university • /college • Students can indicate if they qualify for/wish to apply for • DSA, CCG/PLA or ADG in which case we will provide the necessary details/forms

41. UCAS & Student Finance Data Share; Share key information between both forms to save time and effort Consent to share; Applicants and their parents/sponsor share financial details provided with HEI’s helping identify student bursary/NSP entitlement Ensure any required evidence is supplied to support applications as soon as possible In most cases this will be; Applications • The students UK passport number • Their own and parent’s/partner’s* National Insurance • Number *If applying for means tested support

42. Application Dates New students will be able to apply for student finance from…….TBC Returning students can re-apply from…….TBC Jan 2012 The application deadline for new students is 31st May 2012 Returning students should re-apply by 29th June 2012 May 31

43. www.direct.gov.uk/studentfinance

44. GettingPaid!

45. Payment Process Core Student Finance is paid in 3 instalments Maintenance loan and any Maintenance Grant entitlements are paid together The 1st instalment triggered by enrolment. The 2nd & 3rd instalments are automatically paid at the start of each subsequent term Maintenance Loan & Grant are paid directly into the students bank account Tuition Fee Loans are paid directly to the HEI in separate instalments

46. Loan Repayments

47. Repayments • Graduates will not make repayment contributions until • they are earning at least £21,000(£1,750 pm) gross • This threshold will rise annually in line with inflation • Full time students will begin to repay in the April after • Graduating from/leaving their HE course • Part time students will begin to repay in the April • 4 years after they have started their course • Repayments will be a basic 9% of income £21,000 and • will be deducted automatically from pay through the • HMRC tax system for most students

48. Repayments • If income falls to £21,000 or below repayments will be suspended • Outstanding loan debt will be written off after 30 years • Interest will be added at RPI plus 3% while studying up to entering repayment • Early repayment system sill in consultation

49. Repayments – Interest Rates Under the 2012 system there will be a variation in the interest rate attached to the students loan; Earnings below £21,000pa • No real rate of interest applied to loan Earnings between £21,000 – approx £41,000 Earnings over £41,000 • Real rate of interest will start to be charged, reaching • a maximum of RPI plus 3% • Interest charged at maximum RPI plus 3% rate

50. Loan Repayments – 2012 Entrants