1 / 40

Student Finance Package

Student Finance Package. Student Finance Package. Tuition Fee Loan. Student Finance Package. Maintenance Support. Additional Support. Scholarships & Bursaries. Tuition Fee Loan. Tuition Fees. HE institutions can charge up to £9,000 per year

rosina
Download Presentation

Student Finance Package

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. StudentFinancePackage

  2. Student Finance Package Tuition Fee Loan Student Finance Package Maintenance Support Additional Support Scholarships & Bursaries

  3. Tuition Fee Loan

  4. Tuition Fees • HE institutions can charge up to £9,000 per year • The fee levels set will be decided by the university • The average for 2012 is thought to be around £8,657

  5. Tuition Fee Loan Paying the Tuition Fee • Eligible students will not have to pay up front for • tuition • The non means tested tuition fee loan (not dependent on • household income) is available to cover tuition fees • SLC will pay the university/college in instalments across the academic year. • Not compulsory

  6. Tuition Fee Loan Tuition Fee Liability Tuition Fees will be paid to HEI at three times in the academic year Interest on the loan will be charged from day payment is made to the university/college not from the liability date

  7. Tuition Fee Loan Part Time Students • From September 2012 new part-time students can apply for a non means tested tuition fee loan which replaces the existing means tested fee and study grant • The maximum for part-time courses is £6,750 a year • Part-time students are not entitled to support for living costs but may get Disabled Students Allowance (DSA)

  8. Maintenance Support

  9. Maintenance Support Maintenance Loan • All eligible students are entitled to a Maintenance Loan, with 65% of the total loan amount being Non Means Tested • (not based on household income) • The amount of Maintenance Loan available will be • linked to where a student lives and studies:

  10. Maintenance Support Maintenance Loan Specific Amounts • Students attending their course beyond 30 weeks, additional means tested loan is available for each additional week of study.

  11. Maintenance Support Maintenance Loan Changes in Maintenance Loan levels For 2012/13 entrants, income exceeding £42,600 and up to £42,875 the maximum loan will be awarded. (If applied for)

  12. Maintenance Support Maintenance Grant • The maximum non repayable Maintenance Grant level in • 2012 is £3250 • The Maintenance Grant is 100% means-tested • Students from households with income of up to • £25,000 will be entitled to the maximum £3,250 • Students from households with incomes of up to • £42,600 will be entitled to a partial grant

  13. Maintenance Support Maintenance Grant Comparative Maintenance Grant Levels *Maximum Maintenance Grant for 2011/12 Starters in 2012/13 will be £2984

  14. Maintenance Support Combined Support Student living away from home outside London 2012/13

  15. Tuition Fee Loan Maintenance Support Special Support Grant • Replaces the Maintenance Grant for students who can claim income-related benefits. Some examples: - • Lone (single) parent • Student with a partner who is also a student and one or both are responsible for a child under 20 who is in full-time education below higher education level • Student with a disability who qualifies for the Disability Premium, Severe Disability Premium or income-related Employment and Support Allowance • If awarded the Special Support Grant, the student’s Maintenance Loan entitlement will not be reduced

  16. Scholarships & Bursaries

  17. Scholarships & Bursaries Scholarships & Bursaries • Bursaries: • Depend on circumstances • Example: University of Exeter • Access to Exeter Bursary Scheme • Bursaries of £1,500 for students with household income of below £25,000 • £1,000 for students whose household income is between £25,000 and £35,000 • £500 for students with a household income between £35,000 and £42,600. • Scholarships: • Academic, sport or music • Subject specific or generic • Vary by institution

  18. Scholarships & Bursaries Options could include: • Fee waiver or discount • Discounted accommodation or other service • Scholarship/bursary – capped as a cash award at £1,000. Example: University of Exeter • Household income below £16,000: Tuition fee reduction of £3,000, OR £2,000 fee reduction and £1,000 as an accommodation bursary • Household income £16,000 - £20,000: Tuition fee reduction of £2,000 • Household income £20,000 - £25,000: Tuition fee reduction of £1,000 National Scholarships (NSP)

  19. Additional Support

  20. Additional Support Disabled Students Allowance • Help towards the additional costs that a student may face as a result of their impairment, health condition or specific learning difficulty • In addition to the standard student finance package. • Does not have to be repaid • Is not affected by the household income • Looks at the specific needs of the individual in relation to their studies.

  21. Additional Support Disabled Students Allowance DSA Allowance rates 2012/13 Full and part-time disabled postgraduate students can receive up to £10,260 a year

  22. Additional Support Dependants’ Grants • Childcare Grant • Based on 85% of actual childcare costs up to maximum of: • £148.75 per week for one child • £255 per week for two or more children • Parents’ Learning Allowance • Help with course-related costs for students with dependent children. Amount received will be between £50 and £1,508 • Adult Dependants’ Grant • For students with a partner or another adult who is financially dependent on them (cannot be an adult child). Maximum grant £2,642 • The amount the student receives will depend on net household income in the academic year of the course.

  23. Student loan repayment

  24. Student Loan Repayment • Student is eligible for repayment: • the April after they leave/graduate if full-time • the April 3 years after starting if part-time • No repayments until earning over £21,000 pa (£1,750 per month) gross • Repayments collected by HMRC, at a rate of 9% of earnings above £21,000 • Any outstanding debt written off after 30 years

  25. Student Loan Repayment • Student is eligible for repayment: • the April after they leave/graduate if full-time • the April 3 years after starting if part-time • No repayments until earning over £21,000 pa (£1,750 per month) gross • Repayments collected by HMRC, at a rate of 9% of earnings above £21,000 • Any outstanding debt written off after 30 years

  26. Loan Repayment

  27. Interest Rates

  28. IAG Resources 2012/13

  29. Student & Sponsor Resources

  30. http://www.direct.gov.uk/studentfinance

  31. http://yourfuture.direct.gov.uk

  32. Customer Helpline (for students & sponsors) Help with applications Info on student finance But check website first! 8am to 8pm Monday to Friday 9:30am to 5pm Saturday & Sunday 0845 300 5090

  33. Practitioner Resources

  34. http://www.bis.gov.uk/studentfinance

  35. http://practitioners.studentfinanceengland.co.uk

  36. Practitioner Pack Resource pack containing fact sheets covering all aspects of student finance, fully updated for 12/13

  37. Resources for use with parents Developed following partner survey & consultation Suite of resources including myth buster, FAQ & video

  38. Practitioner Team Helpline Regulations Complex Queries Designated Courses Expert Advice 10am to 4pm Monday to Friday 0845 602 0583 or ssin_queries@slc.co.uk

  39. IAG Resources 2012/13 Overview http://practitioners.studentfinanceengland.co.uk

  40. Questions Or Comments?

More Related