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Student Finances 2008

Student Finances 2008. Queen Elizabeth’s Grammar School. Fees. Tuition Fees Individually set University fees (“top-up” fees) £3145 per annum in 2008 (Scotland, £1700) Fee loan available from SLC Payable after graduation, when your earnings reach £15,000 9% of earnings above £15,000.

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Student Finances 2008

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  1. Student Finances 2008 Queen Elizabeth’s Grammar School

  2. Fees • Tuition Fees • Individually set University fees (“top-up” fees) • £3145 per annum in 2008 (Scotland, £1700) • Fee loan available from SLC • Payable after graduation, when your earnings reach £15,000 • 9% of earnings above £15,000

  3. Living Expenses • Loan from SLC • Maximum amounts • At home £3580 • Away from home £4625 • Away in London £6475 • Based on 30 week academic year

  4. Living Expenses • 75% loan entitlement for everyone • 25% on sliding scale if residual income • Less than £17,900 full loan • More than £38,805 75% only • Parents expected to contribute difference • Payable after graduation, when your earnings reach £15,000 • RPI-linked interest

  5. Living Expenses • Maintenance Grant • Non-repayable • Sliding scale • less than £17,900 £2765 • more than £38,805 £0 • Grant reduces loan £ for £ up to a maximum of £1230

  6. Bursaries • University specific finance • Not repayable • Usually linked to residual income • Nottingham £1050 • Newcastle £1240 • Cambridge £3100 • Sheffield Hallam £700

  7. Bursaries • Lincoln • £600 on £17,900 • £1,500 if in LA Care • £1,00) or £500 sports bursaries • £1,000 Science Bursaries • £,1000 EU Bursaries Find out what’s available!

  8. Bursaries • QEGS • Leaver’s Scholarship • High potential for excellence • One payment • Varies according to number awarded

  9. How much? • Accommodation • In halls • Private • Catered • Non-catered • Location (SE premium)

  10. How much? • Food • Heating • Telephone • Internet • Insurance • Travel • Laundry • Social • Books

  11. How much? • Rent £3250 (Catered) • Food £800 • Travel £450 • Social £1000 • Books £400 • Clothes £450 • Laundry £150 £6500

  12. And the rest? • Insurance £125 • Telephone £150 • Toiletries £50 • Contingencies £100 £6955

  13. Other sources of income • Earnings • Part-time, holidays • Sponsorship • Industrial, commercial • Grants and Scholarships • Local charities

  14. Access to funding • Complete LA application form • They will assess your eligibility and send you a Financial Assessment Form • Complete Financial Form • Meet the deadlines • Delays can cause problems in the Autumn

  15. Access to funding • Receive financial notification • One for you • One for institution • Apply for loan/grant • Do it straightaway!

  16. Advice • Bank account where and which? • Credit card can you control it? • Budget will it work? • In trouble? Ask for help!!

  17. Useful websites www.slc.co.uk - student loan company www.nusonline.co.uk - NUS http://www.lincolnshire.gov.uk/section.asp?catid=14926&docid=27177 - LA http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/index.htm - DCSF

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