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Briefing for Parents and Partners

Briefing for Parents and Partners. Peter Smith Assistant Dean For Recruitment. Overview. Aim : to help you support the students in their decision-making process. We’d like to spend some time on: Finance IT job market Then, over to you…. How Much Will HE Cost Me?. Tuition Fees

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Briefing for Parents and Partners

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  1. Briefing for Parents and Partners Peter Smith Assistant Dean For Recruitment

  2. Overview • Aim: to help you support the students in their decision-making process. • We’d like to spend some time on: • Finance • IT job market • Then, over to you…

  3. How Much Will HE Cost Me? • Tuition Fees • Living Expenses • £9,000 (2012/13) • Increases each year with inflation • £800-£1,000 per month living in London • £600-£700 per month outside London

  4. Student Loan for Fees All Home/EU students can take out a Student Loan for Fees charged by the University • Paid to the University • Not means-tested • Loans are repayable once students have left their course and are earning over the threshold: £21,000 p.a. • 9% of Gross above threshold of £21K • Interest rate currently 3.0%+ RPI (after graduation, interest rate depends on income). • Variable, set each September

  5. Student Loans for Maintenance • For living and study costs such as rent, food & books • Repayable after graduation • Paid in three instalments, direct to bank account

  6. Maintenance Grant • Worth up to £3,250 per year, depending on household income • Household income < £25,000 = full grant • Independent status, household income = £0, full grant • Household income between £25,000 - £42,600 = partial grant • Paid in 3 instalments, directly into students’ bank accounts • Doesn’t have to be paid back

  7. How To Apply • Visit direct.gov.uk/studentfinance • Apply from Autumn for the following academic year • National Insurance Number (NINO) • No NIN, no student loan • Job Centre Plus - www.jobcentreplus.gov.uk • Apply each year of your course

  8. University Bursaries and Scholarships • Lord Mayor’s Scholarships • Based on Academic Excellence • National Scholarship Programme • Half Government Funded, Half University Funded • Eligibility Based on Household Income

  9. The Lord Mayor’s Scholarships • Awarded For Exceptional Academic Performance. • The award extends over three or four years and is available to anyone who meets the grade criteria. • The Scholarship is a cash-back award. • The award for Computing courses is as follows: • A*AA - £3000 per annum • AAA (or BTEC DDD) - £2000 per annum • AAB - £1000 per annum

  10. National Scholarship Scheme • Half government funded, half university funded • Home and EU students can be considered • Eligibility to be based on household income as assessed by SFE • 150 scholarships on offer • Awards of £3,000 each for first year • £1,000 of which can be paid to the student • Priority groups will also be a factor Full list on www.city.ac.uk/2012funding

  11. Access to Learning Fund • Government fund, administered by universities. • ‘Hardship fund’ for Home UK students • Additional consideration given to: • Students with children • Students previously in care/homeless • Undergraduate final year students • Students with disabilities • Can apply each year between September and July.

  12. Other Funding • City University London Hardship Fund • Replaces Access to Learning Fund when funds run out. • Richard Reeves Foundation • Block grant given to City University London • Must have lived, worked or studied in Islington or Camden • Must apply for all eligible funding first • Individual grants following application and interview • Other Charities and Trusts: • Funderfinder.co.uk

  13. Extra Allowances • Dependents allowances • Parents Learning Allowance • Child Care Grant • Disabled students allowances (DSA) • Needs-tested, not means-tested • Non-medical helpers • Specialist Equipment • Other expenses • Learning Success – 0207 040 0246

  14. Survival tips at University • Check you are aware of all help available – From the University, SLC, DWP and Local Housing Authority • Shop around for a student bank account • Keep a spending diary and make a budget • Attend money management workshops • Check out the Careers Service for part-time work advice if your course permits

  15. More Information • Directgov: direct.gov.uk/studentfinance • Online Student Calculator: www.studentcalculator.org.uk/ • Student Centre, City University: www.city.ac.uk/studentcentre • Additional Questions: fundsservice@city.ac.uk

  16. Current IT Job Market • Over 1m IT workers in the UK • half in the IT industry, half embedded in other industries. • Inter-quartile range of advertised IT salaries is £33-61K per year, median is £43K (jobstats.co.uk, 29/3/10). • Employers place emphasis on “soft” skills such as business awareness as much as technical skills. • IT Professionals are “professional problem-solvers” • Growth in demand for higher-level skills, decline in the lower-skilled sectors of the IT market. • Off-shoring is a factor, but not a threat. • Some IT job losses, but secondary effect of recession. • Finance, retail and manufacturing worst hit.

  17. www.jobstats.co.uk • Charts advertised IT job vacancies. • However – this denotes a recruitment downturn, NOT job losses • Employees are staying in their jobs , hoping to ride out the recession • Companies are hiring cautiously for the same reason.

  18. Consider the Fundamentals… • Digital Economy comprises ~8% of GDP • Larger than agriculture and transport combined • It is where growth is expected, and makes other industries effective. • Over 50% of UK GVA in in IT-intensive industries • E.g. finance, creative industries, high-value manufacturing… • Effective IT key to UK competitiveness • Government Commitment To IT – New School Initiative

  19. Return on Investment? • IT has the highest employment of any STEM subject after 6 months. • Over the coming years 141,000 new IT professionals are needed per year. • But they must be of suitable quality.

  20. Some Advice… • Universities have changed dramatically • Much of your experience may not be valid! • No degree is a “meal ticket” - competitive job market • Employers look for more than paper qualifications • The applicant has to take the course…. • Motivation/interest is everything! HE not for all… • Any other reason is inviting drop-out… • We can only deal with applicants themselves • There are data protection issues • It’s the applicant who needs to convince us! • This counts double in clearing/confirmation

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