Finances, Forms, Student Loans and working whilst at university

1. Finances, Forms, Student Loans and working whilst at university • Choosing a university: • University Open Days • Prospectuses • University statistics e.g. graduate employment rates • Student Loans for: • Tuition fees • Living costs • Practicalities: List of forms to fill in to apply for a student loan and where to get them. • Working in University Holidays, Internships, Subject Experience Days in Y12/13

2. CHOOSING A UNIVERSITY www.unistats.com (http://unistats.direct.gov.uk/)

3. Employability Rates of Graduates Reputation of University / Quality of Course?

4. http://www.direct.gov.uk/en/EducationAndLearning General site for all UK Higher education administrative enquiries CHOOSING A UNIVERSITY • Open Days • http://www.opendays.com/ • Prospectuses • Google search university (and course), UCAS lists of universities, IB common room at school.

5. List of Fees charged by University(Maximum limited by govt to £9 000 (as of 2012-13) http://www.publicgoods.co.uk/

6. Student Loans Once you earn over £21,000 per year (before taxes & deductions). • £1,750 a month • £438 a week • PAYE (Pay As You Earn): if you are employed, Student Loan deductions are made automatically from your salary • Self Assessment: if you are self-employed, or a combination of employed and self-employed, you will be responsible for calculating and making your own repayments • overseas: if you work or are planning to work abroad, you will be required to make a repayment arrangement with the Student Loans Company • you would repay nine per cent of the amount you earned over the monthly threshold of £1,750

7. Repaying a Student Loan

8. Estimated Debt 3 year course: £30,000 of debt For fees of £9,000 3 year course: £38,000

9. 2012/13 Student Loan Living Expenses Eligibility http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/DG_194804 The loan to cover tuition fees is paid directly to your university or college each year of study, once you've registered on your course. ‘EU students: what type of finance could you qualify for?’ http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/StudentsFromOtherEUCountries/DG_065322 Living Expenses Loan: • are a student from England who’s returning to the UK to study after having exercised a right of residence elsewhere in the EEA or Switzerland • amount you get depends on where you live and study and your household income. • £5,500 if you live away from home and study at a university or college outside London • £7,675 if you live away from home and study at a university or college in London • £4,375 if you live at home

10. Students from England returning to the UK to study Living Expenses Loan: • are a student from England who’s returning to the UK to study after having exercised a right of residence elsewhere in the EEA or Switzerland Ring Student Finance Services – European Team on 0044 (0)141 243 3570 (Mon-Fri 0900 to 1730) or EU_Team@slc.co.uk before completing an EU applicant EU9N form.

11. UK nationals, resided in UK for at least 3 months at one stage in their lives: apply in the same way as ‘home’ students PN1 form (UK home student form), short covering letter stating wished to be considered a home student under the “Category Two: Settled in the UK and have exercised a right of residence in the EEA/Switzerland ” (exercised your EU right to work in another EU country). You can apply directly « online » or fill in and send off a paper form at the weblink - see « Finances » page links on the IST « Careers » website. In either case, don’t forget to SAVE / PHOTOCOPY your COMPLETED FORM for reference later!

12. Student Loans: EU non-UK nationals • EU9N: Student loan form to cover tuition fees for EU non-UK national citizens. • All student loan forms for EU (non UK national) applicants to UK universities Check list of forms to download from this page: • Evidence of income: French residents • EU9N form (non-UK citizens or UK citizens who have never resided in the UK) For further information contact the Student Finance Services – European Teamon 0044 (0)141 243 3570 (Mon-Fri 0900 to 1730) or EU_Team@slc.co.uk before completing an EU applicant EU9N form.

13. 2012/13 Grants http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/DG_194804 GRANTS • You’ll be entitled to a partial grant (you don’t have to repay a grant) if your household income is between £25 000 and £42 600.

14. Living Costs by Universityhttp://www.rbs.co.uk/content/personal/current_accounts/student/downloads/RBS_Student_Living_Index.pdf (Royal Bank's Student Living Index 2007) Bank of Mum and Dad dries up: More than one in four (28%) students are receiving less financial support from their parents with nearly half (46%) not receiving any parental funding. Saving over socialising:Students' are putting money earned from part time jobs into savings 1 and less being spent on socialising. Working longer hours:Dundee students work the most,16 hours a week. London students who earn the most with ave income of £5,024.40 2, the equivalent of approximately 7,850 3 tins of baked beans. Being practical about the graduate job market:Over three quarters (76%) of students are for internships, working instead of travelling, and generally working harder, aiming for higher grades. Natwest, Student Living Index 2010 summary WORK IN THEIR HOLIDAYS! (sponsorship)

15. National Insurance Number You need a national insurance number if: • You must apply for a National Insurance number if: • you need to claim benefits and/or tax credits • you have the right to work in the UK • you are entitled to and have applied for a student loan and require a National Insurance number See website for details:http://www.direct.gov.uk/en/MoneyTaxAndBenefits/BenefitsTaxCreditsAndOtherSupport/BeginnersGuideToBenefits/DG_10014073 If you’re between 16 and 20 years old and haven’t received a National Insurance number contact the National Insurance Registrations Helpline: 0044 (0) 845 915 7006 Phone lines are open Mon-Fri 08h00-17h00 (09h00-18h00 French time)

16. Study & Work Abroad during your UK degree http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigher Education/DecidingWhereToStudy/DG_065789 WORK EXPERIENCE abroad during University holidays: http://www.iaeste.org.uk/ To provide science, engineering and applied arts undergraduates with training experience abroad relevant to their studies.

17. Internships • http://www.prospects.ac.uk/cms/ShowPage/Home_page/p!eLaXi • Careers Website: « sponsorship » links. • « Graduate Talent Pool » (Government initiative): Employers won’t now have to pay their interns if they don’t want to. The Government would quite rightly prefer that a modest wage be offered but is having to take account of the dire situation of many companies. Graduates who have been registering as unemployed for six months will be allowed to keep Jobseeker’s Allowance while taking part http://www.prospects.ac.uk/p/articles/internships_are_coming.jsp

18. Subject Experience Days These events will help students: • Understand the different study routes and courses available • Understand the careers opportunities • Meet organizations and professions who apply the subject in their work Summer 2011 events: • Maths 8th July 2011 • Languages 9th July 2011 • English 11th July 2011 • Politics 13th July 2011 • Art 15th July 2011 • Economics 20th July 2011 • Biology 22nd July 2011 • Psychology 25th July 2011 • History 28th July 2011 • Geography 29th July 2011 • Average cost: £55 = 63€ For more information and booking details go to: www.myfuturewise.org.uk/events

19. What do we learn at university? Use spare time productively, take on responsibilities, get involved in societies, associations, paid employment, clubs, sports etc.