Student Finance 2015/16: Comprehensive Guide for Practitioners

1. STUDENT FINANCE 2015/16 A PRACTITIONERS INTRODUCTION

2. i SESSION CONTENTS • Section 1 – The Student Finance Package • Section 2 – Additional Support • Section 3 – Student Loan Repayment • Section 4 – Application Information • Section 5 – Resources

3. SECTION 1 THE STUDENT FINANCE PACKAGE 2015/16

4. 1 THE STUDENT FINANCE PACKAGE SUPPORT AVAILABLE TO STUDENTS INCLUDES: TUITION FEE LOAN MAINTENANCE SUPPORT BURSARIES & SCHOLARSHIPS ADDITIONAL SUPPORT All figures used in this section are subject to final parliamentary approval of 2015/16 student finance policy

5. SECTION 1 TUITION FEES & LOANS

6. 1 TUITION FEES & LOANS OVERVIEW • The maximum tuition charges for full-time courses will be maintained at £6,000, or £9,000* • Maximum Tuition Fee Loans for full-time courses will also be maintained at £9,000 (or £6,000 for specifically designated courses at private institutions) • The Tuition Fee Loan doesn’t depend on household income • SLC pay any Tuition Fee Loan requested directly to a university or college so eligible students shouldn't have to pay any fees upfront *Publicly funded institutions with an approved Offa Access Agreement - www.offa.org.uk/access-agreements

7. 1 TUITION FEES & LOANS SANDWICH & PLACEMENT YEARS • Policy for students starting their courses on or after 1st September 2012: • Students on sandwich placements will be charged 20% of the • maximum full-time tuition charge – Maximum charge of £1,800 • Students on Erasmus placements will be charged 15% of the • maximum full-time tuition charge – Maximum charge of £1,350 • Students on overseas placements will be charged 15% of the • maximum full time tuition charge – Maximum charge of £1,350

8. SECTION 1 PART-TIME STUDENTS

9. 1 TUITION FEES & LOANS OVERVIEW • Publicly-funded universities or colleges can charge up to a maximum tuition fee level of £6,750 a year for part-time courses* • New, eligible part-time students can apply for a non means tested loan to cover the cost of their tuition at these institutions • The actual amount charged will depend on the intensity of a course • Course intensity is how long it takes to complete a part-time course • compared to the equivalent full-time course • Students starting designated P/T courses provided wholly by a private university or college can apply for up to £4,500 in Tuition Fee Loan *With an Offa approved Access Agreement

10. 1 OTHER SUPPORT FOR PART-TIME STUDENTS • Part-time students will not be entitled to a loan or grant towards living costs but can access Disabled Students’ Allowances (DSAs) • Bursaries or scholarships offered by universities and colleges may provide additional support based on factors such as income or academic achievement • Continuing students whose course began before September 2012 can still apply for a means-tested fee and course grant • Part-time study & benefits • Part-time students can usually still claim benefits that depend on • household income (means-tested benefits) such as; Universal Credit, Income-based Jobseekers Allowance or Housing Benefit if unemployed Students should contact their Jobcentre Plus or Department for Work and Pensions for an on-going benefit eligibility assessment

11. SECTION 1 MAINTENANCE SUPPORT

12. 1 MAINTENANCE SUPPORT OVERVIEW • Maintenance support is available to help with living costs a student • will face while in higher education • Two main types of support are available, Maintenance Loan and Maintenance Grant • The Maintenance Loan is repayable and all eligible students are • entitled to receive some funding • The loan level available depends on where a student lives and studies • Maximum Maintenance Loan levels for 2015/16 have been increased • by 3.34%

13. Up to £4,565 1 MAINTENANCE LOAN EXAMPLE 2015/16 MAXIMUM RATES Up to £8,009 Parental Home - Live at home Elsewhere - Live away from home and study outside of London Up to £6,820 London - Live away from home and study in London Up to £5,740 Overseas - Study overseas as part of a UK course

14. 1 MAINTENANCE LOAN MEANS TESTING *Lower rates are available to final year students Additional loan is available for each extra week of study for students attending their course beyond 30 weeks

15. 1 MAINTENANCE SUPPORT MAINTENANCE GRANT OVERVIEW • The maximum Maintenance Grant will be maintained at £3,387 • How much grant a student can get depends on their household • income (100% means tested) • Existing household income thresholds maintained for 2015/2016: Household Income: Up to £25,000 Full Grant of £3,387 Household Income: Up to £42,620 Partial Grant The maximum Special Support Grant, which is paid to certain students eligible for benefits will also be maintained at £3,387

16. 1 GENERAL ELIGIBILITY INDEPENDENT STUDENTS • What does being an independent student mean? • Student Finance England will not take any parental income into • account when assessing student entitlement for support • If married or in a civil partnership, SFE will take into account the • income of the students husband, wife or civil partner A student is considered independent if: • They have care of a person under the age of 18 on the first day of the academic year for which they are applying for support • They’re 25 or over on the first day of the academic year for which they are applying for support

17. 1 GENERAL ELIGIBILITY INDEPENDENT STUDENTS - CONTINUED • A student is considered independent if: • They’ve been married or formed a civil partnership before the start of the academic year even if that marriage or civil partnership has ended • • They have no living parents • • They’ve supported themselves for at least three years before the start of their course • They’ve not communicated with their parents for one year before the beginning of the academic year for which they are applying for support, or can demonstrate a permanent estrangement from their parents

18. 1 GENERAL ELIGIBILITY INDEPENDENT STUDENTS - CONTINUED • A student is considered independent if: • Their parents cannot be traced or it is not practical or possible to contact them • Their parents live outside of the EC and an income assessment would put them in jeopardy, or if not reasonably practicable for them to send funds to the UK if a contribution were assessed • • Subject to certain exceptions, they were looked after by a local authority throughout any three month period ending on or after the date on which they turned 16 and before the first day of the first academic year of their course

19. 1 COMBINED MAINTENANCE SUPPORT LIVING AWAY FROM HOME, OUTSIDE LONDON Students can get a quick estimate of their student finance entitlement using the calculator on gov.uk/studentfinance

20. SECTION 1 BURSARIES & SCHOLARSHIPS

21. 1 BURSARIES & SCHOLARSHIPS BURSARIES & SCHOLARSHIPS OVERVIEW • Many universities and colleges offer financial support to their students • through bursaries and scholarships • Bursaries: • Linked to personal circumstances and often, household income • Awards can include fee reductions, discounted accommodation or cash • Scholarships: • Often based on academic results or ability in sport, art or music etc.. • Can be subject specific and are limited in numbers Students should check university websites early and ask at open days for information on support available and how to apply

22. 1 BURSARIES & SCHOLARSHIPS STUDENTS LEAVING CARE – BUTTLE TRUST www.buttleuk.org/pages/quality-mark-for-care-leavers.html

23. SECTION 1 ADDITIONAL SUPPORT

24. 2 ADDITIONAL SUPPORT OVERVIEW • Extra money or support may be available to students if they: • Have children or adults dependent on them • Have a disability, long-term health condition, mental-health condition • or specific learning difficulty • Are studying an NHS or Social Work course • NHS courses include: • Nursing, midwifery, physiotherapy, chiropody, dietetics, radiography, occupational therapy, the later stages of medicine and dentistry For further information and applications students should visit: www.nhsbsa.nhs.uk/students

25. 2 ADDITIONAL SUPPORT DISABLED STUDENTS’ ALLOWANCES • Disabled Students’ Allowances provide help towards the additional costs • that a student may face as result of their disability, long-term health • condition, mental-health condition or specific learning difficulty: • DSAs Support: • Is available in addition to the standard student finance package, • Does not have to be repaid, • Is not affected by household income, • Looks at the specific needs of the individual in relation to their circumstances and studies Students need to be aware the DSA application process can take up to 10 weeks!

26. 2 ADDITIONAL SUPPORT DISABLED STUDENTS’ ALLOWANCES Maximum DSA rates maintained for 2015/16: For both full-time and part-time postgraduate students there is a single allowance of up to £10,362 a year

27. 2 ADDITIONAL SUPPORT STUDENTS WITH DEPENDANTS’ • Childcare Grant: • Based on 85% of actual registered/approved childcare costs up to • maximum of: £155.24 per week for one child £266.15 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 £1,573 • Adult Dependants’ Grant: • Normally for the student’s partner. Can be for another adult who is • financially dependent on the student where the adult’s net income is not • more than £3,796 p.a.Maximum grant available: £2,757 The maximum Dependants Grant levels will be increased by 3.34% for 2015/16

28. 2 STUDENT FINANCE POLICY POINTS OF INTEREST • Proposals submitted for Sharia law compliant finance system • Student Finance Wales service and launch of part-time applications • Changes to DSA’s (funding will no longer be provided for) • Standard specification computers, software, associated peripherals and associated warranties/insurance • Non-specialist non-medical help (NMH) support or general consumable items Updates and student support information notices can be found at: www.practitioners.slc.co.uk/policy-information.aspx

29. SECTION 3 STUDENT LOAN REPAYMENTS

30. 3 STUDENT LOAN REPAYMENTS AN OVERVIEW • Students won’t make repayment contributions until their income is • over £21,000 a year (£1,750 pm) gross • Full-time studentswill begin to repay in the April after graduating from/leaving their HE course (from April 2016 at the earliest) • Part-time students enter repayment in the April 4 years after they started their course, or the April after they leave their course* • Repayments will be a basic 9% of income earned over £21,000, but • if income falls to £21,000 or below, repayments will stop • Early repayments can be made at any time, but any outstanding • loan balance will be written off 30 years after entering repayment *whichever comes first

31. 3 STUDENT LOAN REPAYMENTS THE FIGURES £ £ Monthly Repayment? £4,000 9% Deducted from? Income £25,000 £30 Interest will be applied to the loan at a maximum rate of RPI +3% More info can be found on: www.studentloanrepayment.co.uk

32. 3 STUDENT LOAN REPAYMENTS THE INTEREST Interest added will vary, depending on a students circumstances: • Interest rate is: • Retail Price Index (RPI) +3% • Interest rate is: • Retail Price Index (RPI) +3% • Interest rate is: • RPI plus up to 3% Income: Below £21,000 During study until entering repayment Income: £21,000 to £41,000 Income: Above £41,000 • Interest rate is: • Set at RPI Only The interest rate applied is updated once a year in September, using the rate of RPI from that March which is carried forward

33. 3 STUDENT LOAN REPAYMENTS DEDICATED WEBSITE www.studentloanrepayment.co.uk

34. SECTION 4 APPLICATION INFORMATION

35. 4 STUDENT FINANCE APPLICATIONS KEY MESSAGES – APPLY EARLY • Each year thousands of students are late in applying for their finance and • have no way to pay for their course or halls, some even have to drop out.. • ...Key messages to communicate to students include! • It will take at least six weeks* to process an application so apply early! • Apply online at gov.uk/studentfinance to make sure that their student finance is in place for the start of their course • They don’t need a confirmed place at university or college to apply • for student finance • Apply with their first choice, they can change details later if they need to *SFE handle over 1 million applications a year, most involve interactions with other government departments e.g. HMRC

36. 4 GOV.UK FOR MORE INFORMATION & TO APPLY www.gov.uk/studentfinance

37. 4 STUDENT FINANCE APPLICATIONS KEY MESSAGES – GET IT RIGHT FIRST TIME • Make a note of their account log-in details and keep them safe • Agree to share information from their application, this helps apply • for many bursaries and some scholarships • Make sure any evidence and information needed to support an • application is supplied first time (students and parent/partners’) • Submit an application even if there is a delay in getting income details from parent/sponsors so some funding (Tuition and Maintenance Loan) will be available when they start their course • If SFE request any additional evidence or documents to support the application use recorded delivery!

38. 4 APPLICATION INFORMATION COMPLETING AN APPLICATION • Before starting an application, students should have the following to hand: • • Passport - SFE can check identity using valid UK passport details • • University and course details • Bank account details and National Insurance number • The easiest way for parents or other sponsors to support a students • application is online through GOV.UK, providing information including: • • National Insurance number(s) • Household income information (Based on prior tax year) • Details of other child dependants If sponsors can’t submit details online, they should send a paper application form and copies of financial evidence - P60’s etc...

39. 4 STUDENT FINANCE APPLICATIONS AUTOMATICALLY ISSUED SPONSOR EMAIL

40. 4 SFE ONLINE FOR FURTHER INFORMATION & RESOURCES www.youtube.com/SFEFILM www.twitter.com/sf_england www.facebook.com/SFEngland www.thestudentroom.co.uk/studentfinance

41. SECTION 4 APPLICATION INFORMATION NEXT STEPS

42. 4 NEXT STEPS SFE DOCUMENTATION • Following assessment, SFE send important documentation to the student • regarding their application and financial entitlement: • Entitlement Letter: • Once an application is assessed we send the student an entitlement • letter highlighting the student finance they can get • Students should keep this letter as they might have to show it to their • university or college when they register • Online Declaration: • If the student applied online, the letter will also include a declaration • students must sign and return to us

43. 4 NEXT STEPS CHANGE OF CIRCUMSTANCES Making changes depends on the status of an application/course start date: • Submitted Applications • (Not yet approved) • Before their course start date students • can amend most of their application • details, including: • Course/University or College • Loan requests and personal details • Cancel their application if necessary

44. 4 NEXT STEPS CHANGE OF CIRCUMSTANCES • Submitted and Approved Applications - Before Course Start Date • Students can: • Change/cancel application and update personal details • Change course or University/College • Change loan amount (the amount the student wants to borrow) • Approved Application - After course start date • Students can make basic changes to their application and loan amount • requested (via Loan Request Form) • However, students must contact their HEI if they wish to: • Change their course (Course and HEI transfer) • Take a break, withdraw from, or return to a course • Change Tuition Fee charged by the HEI (Prior to the term start date) Full online CoC functionality will be available by the end of June (links currently available to relevant paper forms)

45. SECTION 5 PRACTITIONER RESOURCES

46. www.practitioners.slc.co.uk 5 PRACTITIONER RESOURCES DEDICATED WEBSITE

47. 5 PRACTITIONER RESOURCES DEDICATED WEBSITE • Access and download our wide range of • IAG resources, including: • Suite of Factsheets • Series of Full and Quick Guides • PowerPoint Presentations • Videos and Marketing Materials • Policy Documents and SFE Updates

48. 5 PRACTITIONER RESOURCES STUDENT APPLICATIONS – MOCK ACCOUNT

49. www.slc.co.uk www.heiinfo.slc.co.uk 5 PRACTITIONER RESOURCES OTHER USEFUL WEBSITES

50. 5 PRACTITIONER RESOURCES SUPPORT FOR PRACTITIONERS • Student Finance Advisers: • Our team of dedicated regional advisers work closely with key partners • across England to deliver a range of Matrix accredited services including: • Staff development through bespoke training, • Advice and support with SFE resources, policy and processes • If I can support you and your colleagues with any area of student finance • IAG delivery, please do get in touch: • Email: ben_rutter@slc.co.uk Tel: 075544 58871 • www.practitioners.slc.co.uk/regional-support Practitioner Helpline: For detailed/complex regulatory advice and particularly complex assessment enquiries – 0300 100 0618