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Student finance

Student finance. Ali Chandler Schools and Colleges Liaison. Main topics. What are the costs? How will students pay for it? What are the repayments?. offa. Office for Fair Access (OFFA) proposal written April 2014 OFFA Agreements confirmed July 2014 Check university website for details.

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Student finance

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  1. Student finance Ali Chandler Schools and Colleges Liaison

  2. Main topics What are the costs? How will students pay for it? What are the repayments?

  3. offa Office for Fair Access (OFFA) proposal written April 2014 OFFA Agreements confirmed July 2014 Check university website for details

  4. What are the costs? Two main costs: • Tuition Fees • Living Costs

  5. Tuition fees £6,000 - £9,000 per year (2014 entry) (Check individual universities and courses for details) Oxford Brookes University £9,000 per year (Undergraduate degrees taught at Oxford Brookes)

  6. Foundation degrees Foundation degree costs may differ to onsite degrees Oxford Brookes University £6,000 per year / £7,000 per year for top up year (Foundation/Bachelor degrees taught in Further Education Colleges)

  7. Living costs

  8. How will students pay for it all? LOANS Non-Repayable Sources Maintenance Grant Bursaries Scholarships Tuition fee loan Maintenance loan

  9. How will students pay for it all? LOANS Non-Repayable Sources Maintenance Grant Bursaries Scholarships Tuition fee loan Maintenance loan

  10. Tuition fee loan £6,000 - £9,000 per year (2014 entry) Tuition fee available to all Fees are paid directly to the university

  11. Maintenance loan To help pay for living costs All full-time UK students eligible (for 65%) Means-tested (35%)

  12. Maximum maintenance loan allowance

  13. How do the loans work? Loans combined into one amount Repayments start: • Aprilafter the course finishes • Student earning at least £21,000per year Loan wiped after 30 years Interest Rates Inland Revenue

  14. repayments Repay tuition fee and maintenance loan at: 9% of income over £21,000

  15. How will students pay for it all? LOANS Non-Repayable Sources Maintenance Grant Bursaries Scholarships Tuition fee loan Maintenance loan

  16. Maintenance grant Payment up to £3,387 per year (means-tested – not all are eligible)

  17. Application not dependent on household income Applying for: • Tuition Fee loan and • Basic maintenance loan (non means-tested) Student can fill in application without parental information

  18. Applications dependent on household income Before starting online application, the following information is needed: Passport (do not send) OR Birth Certificate University and Course details Bank account details National Insurance number; and Parent’s or partner’s National Insurance number and income details (parents must also register) Applications cannot be processed until all information given

  19. Applying for student finance 1 Fill in and send application online: www.gov.uk/studentfinance 2 Application assessed 3 Student Entitlement and Declaration letter sent The student will not receive instalments until they have enrolled with a university 4

  20. Bursaries and scholarships Cash bursaries Fee waivers Halls discount Check university websites for details University specific financial packages

  21. Oxford brookes universityfinancial support(2014 Entry)

  22. Nhs and social care courses • Tuition paid in full (Nursing, Midwifery, Occupational Therapy, Operating Department Practice and Physiotherapy) • Grant and Loan (non-means tested) • Bursary (means tested) Social Care • http://www.nhsbsa.nhs.uk/Students/825.aspx

  23. Other help Access to Learning Fund (One off-payment) • Disabled Student Allowance • www.direct.gov.uk/studentfinance • Processed by Student Finance England • Student Services can help • Support available for dyslexic students

  24. Other sources of income

  25. Extra income

  26. Extra income Student Account Overdraft Credit Card

  27. How to save money! NUS Card Bulk Buy Value Food Mobile Phone tariff 16 – 25 Railway Card

  28. benefits It opens doors Meet new people Gain a qualification Learn new skills On average, graduates will earn more than non-graduates April 2011, National Statistics More employers require you to have a degree It’s your choice!

  29. helpful information www.unipodadvice.com www.twitter.com/brookesstudents www.facebook.com/brookesstudents

  30. Useful websites Government: www.gov.uk/studentfinance Student Room:www.thestudentroom.co.uk/studentfinance Brookes: www.brookes.ac.uk/studying/finance NHS:www.nhsbsa.nhs.uk/students (NHS and Social Care courses)

  31. Any Questions?

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