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northumbria.ac.uk

northumbria.ac.uk. Name: Oli Course: Drama (Scriptwriting) Hometown: Darlington. Student Finance & Budgeting. How students pay for higher education Look at what students spend their money on How to save money and make it last longer. What’re you paying for?. Living Costs.

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northumbria.ac.uk

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  1. northumbria.ac.uk

  2. Name: Oli • Course: Drama (Scriptwriting) • Hometown: Darlington

  3. Student Finance & Budgeting How students pay for higher education Look at what students spend their money on How to save money and make it last longer

  4. What’re you paying for? Living Costs Tuition Fees Expert Academics Rent and Bills Industry Standard Facilities Food and Sustenance Professional Accreditations Resources World Class Research Travel Average graduate salary is £9,500 higher pa Student Support Social Life How much will you personally have to pay? On an average graduate salary of £30,000 - £37.50 a month Who can afford to go to University? Every UK Home Student * Figures are based on Student Finance England 2018/19 and are subject to change

  5. Student Finance England 47% 53% Tuition Fee Loan Maintenance Loan Based on house-hold income Guaranteed to all students Covers full costs of Tuition Help with living costs Use the online calculator! Paid to the student Up to £9,250 per year Paid directly to the university 3 instalments each year Maintenance Loan Factors Combined household income Where you choose to live Approximate percentages below vary Living at your parents home Up to £7,324 Live away from home, outside LND Up to £8,700 Up to £11,354 Living away from home, inside LND * Figures are based on Student Finance England 2018/19 and are subject to change

  6. Repayment + Tuition Fee Loan Maintenance Loan One Loan Repayment When earning more than £25,000 Monthly repayment based on earnings Written off after 30 years It works more like a Graduate Tax than a loan Addressing Misconceptions It does follow you if you move out of the UK There is an interest rate You can pay it all off at once if you can, but it’s not recommended Not like a regular debt, does not affect credit score If you’re not earning, you’re not paying * Figures are based on Student Finance England 2018/19 and are subject to change

  7. How to Apply gov.uk/apply-for-student-finance Other sources of finance Academic Scholarships Sport Scholarships Hardship Funds Care-leavers Bursaries Other Bursaries Personal Details (Name, DOB, NI Number, Passport Number) Where you’ve lived in the last 5 years Education details Bank details Parent/Guardian financial information from the past year Each university has different scholarships * Figures are based on Student Finance England 2018/19 and are subject to change

  8. We asked 100 Northumbria University students a series of questions about how they spend their money at university CAN YOU GUESS WHAT THEY SAID ?

  9. Which do students prefer to splash their extra money on? Going Out Clothes

  10. What percentage of students walk into university each day? 58% 34%

  11. What is the average rent students pay each week? £60 - £80 £80 - £100

  12. What percentage of students live at home? 24% 48%

  13. After bills and rent, what did most students think was their biggest expense? University Resources Socialising

  14. What percentage of students do NOT visit home every semester? 7% 18%

  15. What is the most expensive ‘course cost’ for our students? Stationery Text Books

  16. Which bills do students find most expensive? Electricity Gas

  17. After bills and rent, how much money do the majority of students spend each week? £75 £150

  18. What percentage of students pay for a gym membership? 22% 33%

  19. Lovaine Hall for 43 weeks -£3160 per year £3273.40 £58 per week left over Steven Living away from home (outside London) Parents income £40,000 £6443 per year maintenance loan Part time job £7.40 for 12 hours +£98 per week £156 per week left over Netflix -£10 per month Phone -£20 per month Gym -£28 per month Food -£50 per week £98 per week left over

  20. Claude Gibb (Catered) for 39 weeks -£2702.70 per year £5492.30 £98 per week left over Kate Living away from home (outside London) Mothers income £18,000 £8200 per year maintenance loan £98 per week left over Part time job £6.20 for 8 hours +£50 per week £148 per week left over Phone -£30 per month Travelling home -£100 per Semester Food -£15 per week £120 per week left over

  21. Budgeting Tips 0% Student Overdrafts NUS Cards and Rail Cards Learn to cook! £98 per week left over £120 per week left over Split your train tickets Part Time Work NO PAY DAY LOANS Free festivals and events Don’t chuck ‘best-befores’ Look for deals on Groupon

  22. More Information The Student Room Student friendly student finance information. www.thestudentroom.co.uk/Student-Finance Student Finance England Further information on government administered support and fees www.gov.uk/student-finance/ Money Saving Expert www.moneysavingexpert.com Northumbria University www.northumbria.ac.uk/tuitionfees Please note that information in this presentation is accurate as of today, and is subject to change as we review our courses and our offers to ensure that you are receiving the best possible educational experience. Our website is the most up to date place to review our information.

  23. Any Questions? northumbria.ac.uk

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