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Student Finance for full time undergraduates starting BSc Social Work in September 2014

Student Finance for full time undergraduates starting BSc Social Work in September 2014 Student Services. Student Finance. Tuition Fees Tuition Fee Loans Grants for living costs Loans for living costs Additional grants Social work bursary National Scholarship Programme

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Student Finance for full time undergraduates starting BSc Social Work in September 2014

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  1. Student Finance for full time undergraduates starting BSc Social Work in September 2014 Student Services

  2. Student Finance • Tuition Fees • Tuition Fee Loans • Grants for living costs • Loans for living costs • Additional grants • Social work bursary • National Scholarship Programme • Repayment terms on loans • Top tips

  3. Tuition Fees • Institutions can charge up to £9,000 for the year in 2014/15 • BCU proposes three separate fee bands of £7,500, £8,200 and £9,000 per annum for full time undergraduate degree courses • BSc Social Work was charged at £7,500 per annum in 2013, to be confirmed if this will remain the same for 2014 starters.

  4. Tuition Fee Loans • You don’t have to pay for your course upfront • Tuition Fee Loan available • Apply through Student Finance England • Must meet the residential & previous study requirements • Interest rate 3% plus inflation • Salary threshold £21,000 • Written off after 30 years

  5. Grants for living costs • Maintenance Grants and Loans available for living costs • Maximum maintenance grant available of up to £3,387 if household income is less than £25,000 • Partial maintenance grant available if household income is between £25,000 and £42,600 • Alternative special support grant of up to £3,387, for those eligible for means tested benefits, such as some single parents.

  6. Loans for living costs • Loan for living costs available in addition to the Tuition Fee Loan • Maximum amounts • living in parental home - £4,418 • living away from parental home - £5,555 • 65% is an automatic entitlement • 35% is means tested on your household income

  7. Examples

  8. Additional Grants • Adult Dependants’ Grant - up to £2,668 • Childcare Grant - up to 85% of costs • Parents’ Learning Allowance - up to £1,523 • Disabled Students’ Allowance • specialist equipment - up to £5,212 for course • non-medical helper - up to £20,725 per year • other disability related - up to £1,741 per year

  9. Social Work Bursary The availability of bursaries for 2013/14 had been under review. The latest information to hand is that there will be no social work bursaries to new students in 2014/15, however there may be a bursary available to students when they move into the second year of the course. The methodology of who gets bursaries is yet to be released by the NHS.

  10. National Scholarship Programme • We will also be offering National Scholarships to over 664 students from the lowest income backgrounds who demonstrate excellence in academic achievement, performance or potential and • Have given firm acceptance of a conditional or unconditional offer by June 2014. • Available to Home and EU students

  11. National Scholarship Programme • These will be worth £3,000 each and will be awarded as a fee waiver to first year students. • Eligible part time students will receive a pro rata fee waiver. • A fee waiver of £1,250 in year 2 • A cash award of £1,000 in year 3 • Further details will be available later in the year.

  12. Repayment terms on loans • Loans are repayable from the April after graduation and earnings are above £21,000. • From the April after you leave university if you are earning below £21,000, interest will reduce to just the rate of inflation • Graduates earning between £21,000 and £41,000 will be charged interest at the full rate of inflation plus interest of up to 3 per cent. • Graduates earning above £41,000, will be charged interest at the full rate of inflation plus 3 per cent.

  13. Repayment Examples

  14. Top tips • Explore all funding you are eligible for • Apply in plenty of time • www.direct.gov.uk/studentfinance • Think about part time work • Prepare a budget plan • http://www.bcu.ac.uk/studentcalculator

  15. Student Services Telephone: 0121 331 5588 Email: student.services@bcu.ac.uk Ask Us Service: www.bcu.ac.uk/askus Web: www.bcu.ac.uk/studentservices www.facebook.com/bcussv www.twitter.com/bcussv • We have dedicated staff who • can help you with: • Budgeting • Money Management • Debt Counselling • Alternative sources of funding • Access to Learning Fund

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