A Guide to Financial Support for New Full-time HE Students 2010/2011

1. A Guide to Financial Support for New Full-time HE Students 2010/2011

2. Why come to Northumbria? • £100 million invested in new campus and refurbishment of existing buildings • State of the art support and facilities • Over 95% of graduates move into either employment or postgraduate study • Graduates gain an average of £160,000 in additional earning during their working life (UUK, Feb 2007) • Scholarships available to all ‘home’ students paying the £3,290 fee • Newcastle-a fantastic city for entertainment, shopping culture and sport with a beautiful coast and countryside

3. Who is this talk relevant for? • Full time undergraduate students starting HE in 2010 • Figures given apply to English students only. • Students who started pre 2009 returning to HE in 2010 - different income thresholds applied in the income assessment • Scottish students should visit www.student-support-saas.gov.uk • Northern Irish Students should visit www.studentfinanceni.co.uk • Welsh students should visit www.studentfinancewales.co.uk

4. Overview Expenses whilst at university fall mainly into two categories: • Tuition Fees – which help meet the cost of the course. • Living Costs –help with your day to day living expenses such as rent, food, course costs, travel, leisure & entertainment.

5. Help with Tuition Fees From September 2010 the tuition fee for all full-time ‘home’ (UK) undergraduate students is £3,290 • All eligible ‘home’ or EU students can take out aTuition Fee Loan to cover the amount charged by the University • No income assessmentinvolved • Tuition Fee Loan paid directly to Universityby Student Finance England (SFE) • Students who don’t take out Tuition Fee Loan must make arrangements with the University to pay their fees

6. Help with Living Costs Help from the Government • Maintenance Loan • Maintenance Grant / Special Support Grant • Other targeted help Help from Northumbria University • University Bursary • University Scholarship • Access to Learning Fund Other sources of support • Part-time work • State benefits • Bank overdraft

7. Student Loan for Maintenance Maintenance Loan (repayable) • Available to help with living and study costs such as rent, food, books • 72% of maximum loan is guaranteed to all eligible students (no income assessment needed) • Entitlement to remaining 28% is dependent on assessment of household income. • Only 72% of maximum loan will be awarded where household income exceeds income threshold • Students from lower income households have part of needs met by non-repayable Maintenance Grant. Amount of loan entitlement is reduced to reflect this • Loan paid directly to student’s bank account by the SLC in three instalments: September, January and April.

8. Maintenance Grant & University Bursary Maintenance Grant (non repayable) • Maintenance Grant of £2,906 paid to students who have a household income of £25,000 or less • Partial Maintenance Grant paid where household income is between £25,001 and £50,020 • Doesn’t have to be paid back • Eligibility assessed when parents/sponsors provide evidence of income. • Paid in 3 instalments (September, January & April) • For every £1 of grant awarded, maximum loan entitlement will be reduced by £0.50 University Bursary (non repayable) • Bursary of £329 paid to students who receive full Maintenance Grant of £2,906

9. Special Support Grant & University Bursary Special Support Grant (non repayable) • Paid to you if you have an underlying eligibility for means tested benefits (Housing Benefit, Income Support) e.g. lone parents • Eligibility for the grant assessed by indicating eligibility for means tested benefits when applying for financial support • Paid instead of Maintenance Grant • Maximum grant of £2,906is awarded if household income is £25,000or less • Partial grant awarded if household income is between £25,001 and £50,020 • Paid in 3 instalments (September, January & April) • Does not affect amount of Maintenance Loan entitlement University Bursary (non repayable) • Bursary of £329 paid to students who receive the full Special Support Grant of £2,906

10. Maintenance Grant & Loan entitlement - ‘living at home’ rate

11. Maintenance Grant & Loan entitlement - ‘elsewhere’ rate

12. Repaying Student Loans • Student loans are only repayable once student has finished/left their course and is earning over £15,000 • Repayments are calculated on9% of earnings over £15,000 Example – Graduate earning £16,000 would repay £7.00per month. – Graduate earning £20,000 would repay £37.00per month. • Repayment ‘holiday’ available • Students starting in 2008 or later, who complete at least 3 year course (due to start repaying loan in or after April 2012) • Repayment break of up to 5 years

13. Student Loans • The interest rate for student loans applies from 1 September to 31 August each year. • Current rate of interest is 0% (Sept 09) though this is subject to change • Interest is charged on your loan from the moment it is paid to you. • Interest accrues on your loan until it has been repaid in full.

14. Targeted Help Depending on circumstances some students may be able to claim additional non-repayable allowances: • The Childcare Grant up to £148.75 pw for one child and £255 pw for two or more children • The Parents’ Learning Allowance • up to £1,508 payable to students with dependent children • Adult Dependants’ Grant up to £2,642 where student has an adult who is financially dependant on them • Disabled Students’ Allowance helps with extra costs student has resulting from disability or specific learning difficulty. (All are means tested except Disabled Students’ Allowance)

15. Additional Financial Helpfrom the University University Bursary – £329 • For students awarded maximum Maintenance Grant/Special Support Grant of £2,906 • Paid directly to the Student’s bank account in October, via the SLC University Scholarship • £250 - £1000 depending on programme studied • Paid to ‘home’ students who pay £3,290 fee and meet the entry requirements for their course • Paid in subsequent years depending on satisfactory progression to next level • Paid directly to student’s bank account in February, via the SLC You do not have to apply for the Scholarship or Bursary if you have already applied for financial support

16. Additional Financial Helpfrom Northumbria Access to Learning Fund • Government fund distributed by University to eligible students in financial hardship. • Application forms available at the start of academic year Help for Care Leavers (must be under 21) • Maximum Scholarship available (£1000) • Help applying for financial support • ‘Fast tracked’ Access to Learning Fund Support • Reduced rates for accommodation • Reduced price tickets for ‘Welcome Week’ Contact: Barbara Wooden (0191) 227 4197

17. Other Sources of Support Part-time work • Provides a different kind of experience • A welcome source of additional funding. • Careers & Employment Service can help students search for part-time jobs Average student wage of £5.70 per hour 10 hours x £5.70 = £57 per week extra income

18. Other Sources of Support State Benefits • Certain categories of students retain eligibility to welfare benefits • Including lone parents, disabled people, pensioners and students with dependant children • Tax Credits, Income Support and Housing Benefit Bank Overdraft • All students need a bank account to have their support paid into. • Most banks offer student accounts with free overdrafts. • Valuable source of financial help in emergencies • However, should not be seen as additional income

19. How much money could I haveper week? Student from family with an income of £45,000 per year on a French & German programme, living away from home would receive: • Maintenance Grant £381 • Maintenance Loan of £4,760 • Northumbria Scholarship of £500 Total: £5,641- £3,640 (£70 per week rent x 52) = £2,001 Divide by ‘period of study’ 38 weeks £2,001  38 = £53 per week to live on Plus any money from part-time work *Nothing for summer vacation (14 weeks) , assumed students will work in the vacation

20. How much money could I haveper week? Student from family with an income of £34,000 per year on a Food Science & Nutrition programme, living away from home would receive: • Maintenance Grant £1,106 • Maintenance Loan of £4,397 • Northumbria Scholarship of £1000 Total: £6,503 - £3,640 (£70 per week rent x 52) = £2,863 Divide by ‘period of study’ 38 weeks, £2,863  38 = £75 per week to live on Plus any money from part-time work *Nothing for summer vacation (14 weeks) , assumed students will work in the vacation

21. How much money could I haveper week? Student from family with an income of£25,000 or less per year on an Accounting programme, living away from home would receive: • Maintenance Grant £2,906 • Northumbria Bursary of £329 • Maintenance Loan of £3,497 • Northumbria Scholarship of £500 Total: £7,232- £3,640 (£70 per week rent x 52) = £3,592 Divide by ‘period of study’ 38 weeks £3,592 38 = £95 per week to live on Plus any money made from part-time work *Nothing for summer vacation (14 weeks) , assumed students will work in the vacation

22. How much money could I haveper week? Student from family with an income of £40,000 per year on an Applied Biology programme, living at home would receive: • Maintenance Grant £711 • Maintenance Loan of £3,483 • Northumbria Scholarship of £1000 Total: £5,194 Divide by ‘period of study’ 38 weeks, £5,194  38 = £137 per week to live on Less any rent contribution to parents Plus any money from part-time work *Nothing for summer vacation (14 weeks) , assumed students will work in the vacation

23. How much money could I haveper week? Student from family with an income of £25,000 or less per year on a Pyschology programme, living at home would receive: Maintenance Grant £2,906 Northumbria Bursary of £329 Maintenance Loan of £2,385 Northumbria Scholarship of £250 Total: £5,870 Divide by ‘period of study’ 38 weeks £5,870  38 = £154 per week to live on Less any rent contribution to parents Plus any money from part-time work *Nothing for summer vacation (14 weeks) , assumed students will work in the vacation

24. Applying for Financial Support Students from England • New students no longer apply to Local Authorities • All new students apply to Student Finance England • Partnership between Government and Student Loans Company • Student Finance England replaces previous Student Finance Direct Student Finance England launched February 2009 • Apply online from January 2010 for 2010 entry

25. Completing your Application • Once the application is submitted, you and your parents/ sponsors will receive unique reference numbers, known as a Customer Reference Number (CRN) • You will also receive a Password&Secret Answerwhich you must keep safe. You will need these for all correspondence with Student Finance England (and The Student Loans Company) • An Internet Passwordis also issued for you to track your application online.

26. Budgeting for University Find out what you might be entitled to by visiting our web pages & Work out a budget before you come!

27. Useful Contacts All Student Finance Information & to apply online: www.direct.gov.uk/studentfinance Student Finance England Customer Service Office: 0845 300 5090 Northumbria Welfare & International Service www.northumbria.ac.uk/welfareandinternational sv.welfareandinternational@northumbria.ac.uk (0191) 227 4127