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MEDICINE OPEN DAY

MEDICINE OPEN DAY. Student Finance 2013/2014. Introduction. Details relating to funding arrangements for academic year 2013/14 yet to be fully confirmed. Please be aware that full regulations still to be laid before, and agreed to, by Parliament Updates available in Summer/Autumn of 2012 .

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MEDICINE OPEN DAY

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  1. MEDICINE OPEN DAY Student Finance 2013/2014

  2. Introduction • Details relating to funding arrangements for academic year 2013/14 yet to be fully confirmed. • Please be aware that full regulations still to be laid before, and agreed to, by Parliament • Updates available in Summer/Autumn of 2012

  3. Aims To provide an overview of funding arrangements from 2013/4 onwards Allow prospective students to gain a better understanding of the types of support they may be entitled to To ensure prospective students know where to get further advice and guidance

  4. Funding • The funding arrangements vary depending on where you normally live: • England • Northern Ireland • Scotland • Wales • Non-UK European Union

  5. Modes of Study • The MBChB is offered as either a 5-year course or a 4-year graduate entry . The funding differs in three ways: • 5-year, first degree • 5-year, graduate • 4-year, graduate entry

  6. Tuition Fees 2013/2014 • All new Home (UK and EU) students will be charged £9,000 per year from September 2012 • Fees for 2013-14 yet to be confirmed

  7. Tuition Fees 2013/2014UK students from England First degree students • No up-front fees • Years 1 to 4 = Fee Loan • Year 5 = NHS Fee Grant • Repayment of all borrowing after graduation

  8. Living CostsUK students from England First degree • Parents/spouse means-tested to determine level of funding

  9. Living Costs 2013/14 UK students from EnglandYears 1 to 4, first degree Maintenance Grant • Fully means-tested • payable on sliding scale up to income of £42,611 • max £3,354 if income £25,000 or less Maintenance Loan • 35% means-tested • Maximum Maintenance Loan rates 2013/14 - Students living away from home £5,500 - Students living at home £4,375

  10. Living CostsUK students from England Years 1 to 4, first degree • Maintenance LOAN entitlement is reduced if student receives a GRANT • LOAN is reduced by 50p for every £1 of Maintenance GRANT payable • E.G. Maintenance Grant of £1000 = £500 reduction in Maintenance Loan

  11. Living CostsUK students from England Years 1 to 4, first degree

  12. Living Costs 2013/14UK students from EnglandYear 5, first degree • Partial non means-tested Maintenance Loan • *£2,324 – Final Year £1,811 • NHS Bursaries • Non means tested grant £1,000 • *Means tested bursary max £2591 (30 weeks) , £4,395 (45 weeks) *“away from home” rates

  13. Tuition Fees 2013/2014UK students from Northern Ireland First degree students • No up-front fees • Years 1 to 4 = Fee Loan • Year 5 = Fees paid by Department of Health, Social Services and Public Safety • Repayment of all borrowing after graduation

  14. Living Costs 2013/14 UK students from Northern IrelandYear 1-4, first degree 2012-2013 rates Maintenance Grant Level of support depends on household income Up to £3,475 per year if income below £19,203. Partial grant if income between £19,204 and £41,065 Maintenance Loan Maximum £4,840 if living away from home whilst studying

  15. Living Costs 2013/14UK students from Northern IrelandYear 5, first degree • Maintenance Loan • 2013/14 details to be confirmed • 2012/13 rate approx £2,370 - £1,850 in Final Year • Department of Health, Social Services and Public Safety Bursary – fully means-tested • 2013/14 details to be confirmed • 2012/13 max approx.£2,335

  16. Tuition Fees 2013/2014UK students from Scotland First degree students • No up-front fees • Years 1 to 4 = Fee Loan • Year 5 = Fee Grant from Scottish Government Health Directorate • Repayment of all borrowing after graduation

  17. Living Costs 2013/14UK students from ScotlandYear 1-4, first degree 2012-2013 rates Students’ Outside Scotland bursary Level of support depends on household income. Up to £2,150 per year Maintenance Loan Maximum £5,570 if living away from home whilst studying Additional Loan Means tested, maximum up to £810

  18. Living Costs 2013/14UK students from ScotlandYear 5, first degree 2012-2013 rates Scottish Government Health Directorate Bursary Income assessed; up to £2,455 if living away from home Non-income assessed Maintenance Loan Maximum £2,330 if living away from home whilst studying. Final Year rate £1,700

  19. Tuition Fees 2013/2014UK students from Wales First degree students • No up-front fees • Years 1 to 4 = Fee Loan + Fee Grant • Year 5 = NHS Wales Fee Grant • Repayment of all borrowing after graduation

  20. Tuition Fees 2013/2014UK students from Wales First degree students • Welsh Assembly Fee Grant to cover the increase in fee costs. • E.g. In 2012-2013 a CONTINUING student will pay a tuition fee of £3,465 • Welsh Assembly Fee Grant will cover difference between this rate and the ACTUAL Tuition Fee being charged to NEW students. • Welsh students will therefore be able to take out a Tuition Fee Loan of £3,465 and be awarded a Fee Grant of £5,535

  21. Living Costs 2013/14UK students from WalesYear 1-4, first degree 2012-2013 rates Assembly Learning Grant Amount received depends on your household income £18,370 or less: Full £5,000 grant, Between £18,371 and £50,020: Partial grant Over £50,020: No grant Maintenance Loan Students living away from their parents’ home and studying outside of London: Up to a maximum of £4,745

  22. Living Costs 2013/14UK students from WalesYear 5, first degree • Partial non means-tested Maintenance Loan • 2013/14 details to be confirmed • 2012/13 rate £2324 - £1811 in Final Year • NHS Bursaries • 2013/14 rates to be confirmed • 2012/13 Non means tested grant £1,000 • Means tested bursary max £2,591

  23. Tuition Fees 2013/2014UK students from England Graduate entry student: 4-year course • Year 1 • Tuition Fee Loan available to cover gap between fees charged to returning students and fees charged to new students. E.g. 2012/13 continuing students fees = £3465, new students fees = £9,000. Tuition Fee Loan available = £5535. • Years 2 to 4 • NHS Fee Grant to cover level of fees charged to continuing students • Tuition Fee Loan to cover rest of fees

  24. Living Costs 2013/14UK students from England4-year graduate entry • Year 1 • Full Maintenance Loan available • 65% means-tested • Between £3,575 and £5,500 (away from home rate) • Years 2 to 4 • Partial non-means-tested Maintenance Loan • 2012/13 rate £2324, drops to £1811 in Final Year • NHS Bursaries • Non means tested grant £1,000 • Means tested bursary max £4,395

  25. Tuition Fees 2013/2014UK students from England Graduate entry students: 5-year course • Years 1 to 4 • Fees payable by student, no Tuition Fee Loan available • Year 5 • Partial NHS Fee Grant

  26. Living Costs 2013/14UK students from England5-year, second degree • Years 1 to 4 • Full Maintenance Loan available • 65% means-tested • Between £3,575 and £5,500 (away from home rate) • Year 5 • Partial non-means-tested Maintenance Loan • 2012/3 - £2324 or £1811 in Final year • NHS Bursaries • Non means tested grant £1,000 • Means tested bursary max £4,395

  27. Tuition Fees 2013/2014 UK students from Northern Ireland • Graduate entry student: 5-yearand4-yearcourses • Fees payable by student for full course – no Tuition Fee Loan or NHS Grant

  28. Living Costs 2013/14UK students from Northern Ireland • Graduate entry student: 5-yearand4-yearcourses • Means tested Maintenance Loan of up to £4,840 (2012-2013) available each year, if living away from home whilst studying • Final Year rate currently £4480

  29. Tuition Fees 2013/2014 UK students from Scotland Graduate entry student 4-year course • Fees payable by student for full course – no loans or Health Directorate support available

  30. Living Costs 2013/14UK students from Scotland4 - year graduate entry • Years 1 - 4 • Full means tested Maintenance Loan • - 2012-2013 rates up to £5,570 per year (£4945 final year rate)

  31. Tuition Fees 2013/14UK students from Scotland • Graduate entry student: 5-year course • Years 1 to 4 • Fees payable by student, no loan available • Year 5 • Health Directorate Fee Payment (subject to qualifications)

  32. Living Costs 2013/14UK students from Scotland5 -year graduate entry • Years 1 - 4 • Full means tested Maintenance Loan • - 2012-2013 rates up to £5,570 per year (£4945 Final Year rate)

  33. Living Costs 2013/14UK students from Scotland5 -year graduate entry Year 5 In your fifth year of study onwards, as long as your first degree does not qualify you with a profession, you are eligible to apply for; 2012-2013 rates Scottish Government Health Directorate Bursary Income assessed up to £2,455 if living away from home Non-income assessed Maintenance Loan Maximum £2,330 if living away from home whilst studying (£1700 in Final Year)

  34. Tuition Fees 2013/2014UK students from Wales Graduate entry student: 4-year course Year 1 • Tuition Fee Loan available to cover gap between fees charged to continuing students and fees charged to new students. E.g. 2012/13 continuing students fees = £3465, new students fees = £9,000. Tuition Fee Loan available = £5535. Years 2 to 4 • NHS Fee Grant to cover level of fees charged to continuing students • Tuition Fee Loan to cover rest of fees

  35. Living Costs 2013/14UK students from Wales4-year graduate entry • Year 1 • Full means tested Maintenance Loan • Up to £4745 (away from home rate) • Years 2 to 4 • Partial non-means-tested Maintenance Loan • 2012/13 rate £2324, drops to £1811 in Final Year • NHS Bursaries • Non means tested NHS Grant £1,000 • Means tested bursary max £2,591

  36. Tuition Fees 2013/2014UK students from Wales Graduate entry students: 5-year course • Years 1 to 4 • Fees payable by student, no Tuition Fee Loan available • Year 5 • NHS Wales Fee Grant

  37. Living Costs 2013/14UK students from Wales5-year, second degree • Years 1 to 4 • Full Maintenance Loan available • Up to £4745 (away from home rate) • Year 5 • Partial non-means-tested Maintenance Loan • 2012/3 - £2324 or £1811 in Final year • NHS Wales Bursaries • Non means tested grant £1,000 • Means tested bursary max £2591

  38. EU Students • Students can apply for fee support on the same basis as English domiciled students via the student loan and NHS grant • Ineligible for living cost support • Some exceptions linked to: • Length of time in UK • Family situation

  39. Repayment of Borrowing Repayments begin from April after graduation if earning more than £21,000 p.a. You repay 9% on income above £21,000 • Income £25,000 per year - repayments £30:00 per month • Income £40,000 per year - repayments £142:50 per month • Income £50,000 per year - repayments £217:50 per month

  40. Repayment of Borrowing(subject to Parliamentary approval) Interest on loans will be applied at inflation (RPI) + 3% up until the April after you leave university If you are earning below £21,000 from the April after you leave university, interest will be applied at the rate of inflation If you earn between £21,000 and £41,000, interest will be applied between RPI and RPI + 3% on a gradual scale Earning above £41,000 interest will be applied at RPI + 3%

  41. National Scholarship Programme University of Leicester National Scholarship Only available to First Degree students from England (Years 1-4) £3,000 award - £2,000 towards your tuition fee each year - £1,000 cash each year Eligibility linked to household income and academic ability Application information provided after you receive your offer of a place at Leicester CULN College Transition Scholarship £1,000 cash available in your first year only For students from colleges which are members of the Colleges-University of Leicester Network (CULN)  Apply through your local college Further information at www.le.ac.uk/study/fees

  42. How to meet additional needs If you are a parent or have an adult dependant you may be eligible for assistance through additional means tested support • Parents Learning Allowance £1,508 max • Childcare Grant max of £148:75 per week for one child and £255 per week for two or more children • Adult Dependants Grant maximum of £2,642 SFE 2013-2014 rates shown – support may vary regionally

  43. Sources of additional support • Part-time work • Bank overdraft / services • Family • Savings • Charities / Trusts • http://www.turn2us.org.uk/ • http://www.family-action.org.uk • http://www.money4medstudents.org

  44. Further Information • University of Leicester funding • www.le.ac.uk/fees • Student Welfare Service • www.le.ac.uk/welfare • 0116 223 1185 • welfare@le.ac.uk • @uolsupport

  45. Further Information Where you normally live determines who you apply to for support and information: • England 0845 300 5090 www.direct.gov.uk/studentfinance • Northern Ireland Call local ELB www.studentfinanceni.co.uk • Scotland 0845 111 1711 www.saas.gov.uk

  46. Further Information • Wales 0845 602 8845 www.studentfinancewales.co.ukwww.cyllidmyfyrwyrcymru.co.uk • NHS 0845 358 6655www.nhsbsa.nhs.uk/ • NHS Wales 02920 196 167 www.wales.nhs.uk/siteplus/829/home • EU +44 (0) 141 243 3570 www.direct.gov.uk/studentfinance

  47. Thank you for listening - any questions?

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