Higher Education Finance 2009/10

1. Higher Education Finance2009/10 Hannah Archer

2. Overview Expenses whilst at university or college fall broadly into two categories: • Tuition fees – help meet the cost of a course • Living costs – accommodation, food, travel, books, etc.

3. Tuition Fees • Higher Education Institutions can charge up to £3,225 per year for tuition fees • Students will be able to take out a loan to cover the cost of the tuition fees – this is not means tested • The loan for tuition fees gets paid direct to the university or college by the Student Loans Company • Loans do not have to be repaid until a graduate’s income exceeds £15,000 a year

4. Health related courses NHS (Dental Hygiene, Speech & Language Therapy, Radiography, Nursing, Physiotherapy): • Tuition fees continue to be paid • Degree students – entitled to a means tested bursary and reduced rate student loan • Diploma students – entitled to a non-means tested bursary but not a student loan Social Work: • Tuition fees will be the responsibility of the student • Entitled to a tuition fee loan and a maintenance loan • Entitled to a non-means tested bursary (administered by the NHS Business Services Authority) • Entitled to a maintenance grant

5. Teaching There are 2 routes into teaching: • Teaching Degree • Any degree plus PGCE (Post Graduate Certificate of Education) Teaching Degree • Same financial rules apply as with other degrees PGCE • Tuition fees will be £3,225 • A proportion of the maintenance grant for all students and up to £2,906 for those less well off • Tax-free bursary of £4,000 to £9,000 • ‘Golden Hello’ after completing 1st year

6. Scotland: £1,735 (4 year course) Northern Ireland: likely to be £3,225 Wales: £3,225 Studying elsewhere?

7. Help with livingexpenses

8. Non-repayable Government Grants • A Maintenance Grant is money to help with your accommodation and living expenses that you do not have to repay • Students can claim up to £2,906 a year depending on household income: £25,000or less - £2,906 £25,000 - £50,000 - partial grant £50,020 - £50

9. Maintenance Loans • There are also loans to help pay for living costs • Maximum maintenance loans for 2009/10: • Student living at home: £3,838 • Student living away from home in London: £6,928 • Student living away from home & outside London: £4,950 • All students are entitled to 72% of the loan. The remaining 28% is means-tested

10. Maintenance Loans The amount of maintenance loan a student can get is dependant on household income and where they study

11. Repayment of loans • Loans for fees and loans for maintenance are combined into a single payment • Repayments are based on how much how much a graduate earns not how much they owe, and is worked out as a % of income above £15,000, (currently 9%): • £20,000 - £8.65 a week • £25,000 - £17.30 a week • Repayments will be deducted automatically along with tax and national insurance contributions

12. Bursaries from individual universities • All institutions charging £3,225 for tuition fees must provide extra help to students who are receiving the full maintenance grant • The minimum amount they are required to offer is £319, but most will offer more

13. University Campus Suffolk Full-time courses • Will be charging the maximum fee permissible: £3,225 • UCS’ bursary scheme may provide generous payments to less well off students

14. Universities in the region UEA • Students who are entitled to the maximum maintenance grant will receive £600 • Others will receive support on a sliding scale if family income is below £50,020 Anglia Ruskin University • £319 to all students in receipt of the full maintenance grant • Will provide a non-repayable, non means-tested award of £500 a year to those who complete the year successfully

15. Universities elsewhere University of Leeds • £1,540 to students who have a household income of less than £25,600 • £335 to students who have a household income of between £35,601 and £36,600 Keele University • Household income of £25,000 or less: £800

16. For more information about other universities’ bursary schemes, visit: http://bursarymap.direct.gov.uk/ or their own websites

17. Other support available Disabled Student’s Allowance • Helps with the extra costs incurred as a direct result of someone’s disability such as additional travel costs, or specialist equipment • Available for full-time students or students studying 50% of a full-time course • For more information, please go to: www.direct.gov.uk/studentfinance

18. How to apply • Apply online through www.direct.gov.uk/studentfinance • Applications should be made as early as possible • The information provided will be used to calculate how much support the student is entitled to

19. Learn how to budget!

20. Budget Calculators: www.ucas.com/students/studentfinance www.studentmoney.org

21. Look out for… • Student discounts:certain shops, cinemas, theatres, etc. offer discounts to students. Students will need to apply for a NUS card (National Union of Student’s) to be eligible for these discounts • Local jobs:there are many opportunities for part-time work at the university or college, or even local pubs, restaurants, supermarkets, etc. • Student bank accounts: there are many different bank accounts available

22. Any questions?