Download - Finance in the new fees environment – update on the new fees & finance structure from 2012
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Finance in the new fees environment –
update on the new fees & finance structure from 2012
University of Exeter Students’ Guild Advice Unit
Joanna Thomas – Student Advisor
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Tuition Fees
2012/13:
• Tuition Fees – Up to £9,000 pa
• ALL UK/EU students can take out a tuition fee loan, regardless of household
income
• Available to full & part-time students
• Some fee waivers available & fees paid
(or part fees paid) depending on course,
University and personal situation
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Income
Main sources of income for living costs:
- Maintenance Grant- Maintenance Loan- Bursaries - Scholarships- Additional support...
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Maintenance Grant (or Special Support Grant)
• Up to £3,250 pa
• Full grant – household income of £25,000
or less
• Some support – household income
of up to approx £42,600
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Maintenance Loan 2012/13 – approx. between £3,575 - £5,500
- living away from parental home & studying outside of London
Or, 2012/13 – approx. between £2,850 - £4,375 - living
at parental home & studying in or outside London
• Or, 2012/13 - approx. between £5,525 - £7,675 -if living away from parental home & studying in London
Difference between min. & max. depends on…
how much Maintenance Grant you are eligible for
and how much your household income is
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University specific…
University of Exeter (UK/Home & EU students):
Access to Exeter Bursaries:
- £1500 per year - Household income up to £25,000
- £1000 per year – Household income between £25,000 - £35,000
- £500 per year - Household income between £35,000 - £42,600
National Scholarship partial fee waivers:
- Household income below £16,000:
Either, a partial fee reduction of £3000,
Or, a partial fee reduction of £2000 and a £1000 bursary
- Household income between £16,000 - £20,000:
A partial fee reduction of £2,000
- Household income between £20,000 - £25,000:
A partial fee reduction of £1,000
------------------------------------------------------------------------------You also have Bursaries and Scholarships from Universities
which are merit based – e.g. Academic, Sports, Music, Drama etc
UNIVERSITY BURSARIES & NATIONAL SCHOLARSHIP PROGRAMME
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Application & Assessment
Loans & Grants:
• Assessment by Student Finance (SLC)• On-line application
Means-test household income
Bursaries/Scholarships:
• University specific
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Income Main sources of income:
- Maintenance Grant
- Bursaries
- Maintenance Loan
- Tuition Fees Loan
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Repaying Tuition Fees & Maintenance Loan
• When?
After leaving course & earning £21,000+ pa.
• How?
Deductions directly from wages, like tax & NI
• How much?
9% of earnings over £21,000 pa.
(e.g. £7.50 per month @ £22,000)
(e.g. £30 per month @ £25,000)
• Interest rate –
Linked to the rate of inflation plus up to 3%
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Additional support for:• Students with disabilities:
- Disabled Students’ Allowances
• Students with children or dependants: - Parents’ Learning Allowance
- Childcare Grant
- Adult Dependants’ Grant
• Care Leavers (University of Exeter students only):
- Full fee waiver - £9,000
- Bursary - Additional support up to £100 per week
for accommodation costs in the summer vacation
• Also, grants/bursaries/loans for students studying
particular courses (e.g. Teaching & NHS courses)
– including partial payment of tuition fees from NHS
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StudentFinance:
Key Messages 2012/13
Fiona DabornStudent Finance EnglandSouth West
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Key messages
• No up front payments for tuition
• Apply now
• Research scholarships and bursaries
• Students repay according to what they earn
not what they owe
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Student Resource
s
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http://www.facebook.com/SFEngland
Ask Questions/Q&A Forums Fun Applications
Link to Help VideosInformation & Support
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http://www.twitter.com/SF_England
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Practitioner Resources
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http://www.practitioners.slc.co.uk/
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Resources for you to use with students
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Materials linked to IAG Quality Standards
Two fully scripted 45 minute lesson plans
Developed & trialled with IAG partners, updated for 12/13
Interactive & encourage research
Fully mapped to IAG Quality Standards
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Videos for students-myths and facts
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Resources for you to use with parents
Developed following partner survey & consultation
Suite of resources including myth buster, FAQ & video
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Resources to embed in your website
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Resources to embed in your website
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Practitioner Helpline Team
Regulations
Complex Queries
Designated Courses
Expert Advice
10am to 4pm Monday to Friday
0845 602 0583 or [email protected]