medicine open day student finance 2013/2014. introduction details relating to funding arrangements...
TRANSCRIPT
MEDICINE OPEN DAY
Student Finance
2013/2014
Introduction
• Details relating to funding arrangements for academic year 2013/14 yet to be fully confirmed.
• Please be aware that full regulations still to be laid before, and agreed to, by Parliament
• Updates available in Summer/Autumn of 2012
Aims
• To provide an overview of funding arrangements from 2013/4 onwards
• Allow prospective students to gain a better understanding of the types of support they may be entitled to
• To ensure prospective students know where to get further advice and guidance
Funding
• The funding arrangements vary depending on where you normally live:
– England– Northern Ireland– Scotland– Wales– Non-UK European Union
Modes of Study
• The MBChB is offered as either a 5-year course or a 4-year graduate entry . The funding differs in three ways:
–5-year, first degree
–5-year, graduate
–4-year, graduate entry
Tuition Fees 2013/2014
• All new Home (UK and EU) students will be charged £9,000 per year from September 2012
• Fees for 2013-14 yet to be confirmed
Tuition Fees 2013/2014UK students from England
First degree students
• No up-front fees
• Years 1 to 4 = Fee Loan • Year 5 = NHS Fee Grant
• Repayment of all borrowing after graduation
Living Costs UK students from England
First degree• Parents/spouse means-tested to determine
level of funding
Living Costs 2013/14 UK students from EnglandYears 1 to 4, first degree
Maintenance Grant • Fully means-tested• payable on sliding scale up to income of £42,611• max £3,354 if income £25,000 or less
Maintenance Loan • 35% means-tested• Maximum Maintenance Loan rates 2013/14
- Students living away from home £5,500
- Students living at home £4,375
Living CostsUK students from England Years 1 to 4, first degree
• Maintenance LOAN entitlement is reduced if student receives a GRANT
• LOAN is reduced by 50p for every £1 of Maintenance GRANT payable
• E.G. Maintenance Grant of £1000 = £500 reduction in Maintenance Loan
Household Income
Grant Loan TOTAL
£25,000 or less £3,354 £3,823 £7,177
£30,000 £2,416 £4,292 £6,708
£35,000 £1,478 £4,761 £6,239
£40,000 £540 £5,230 £5,770
£42,611 £50 £5,475 £5,525
£42,875 £0 £5,500 £5,500
£50,000 £0 £4,788 £4,788
£55,000 £0 £4,288 £4,288
£60, 000 £0 £3,788 £3,788
£62,125 £0 £3,575 £3,575
Living CostsUK students from England Years 1 to 4, first degree
Living Costs 2013/14 UK students from England
Year 5, first degree• Partial non means-tested Maintenance Loan
• *£2,324 – Final Year £1,811
• NHS Bursaries • Non means tested grant £1,000• *Means tested bursary max £2591 (30 weeks) , £4,395 (45
weeks)
*“away from home” rates
Tuition Fees 2013/2014UK students from Northern Ireland
First degree students
• No up-front fees
• Years 1 to 4 = Fee Loan • Year 5 = Fees paid by Department of Health,
Social Services and Public Safety
• Repayment of all borrowing after graduation
2012-2013 rates
Maintenance Grant• Level of support depends on household income• Up to £3,475 per year if income below £19,203.• Partial grant if income between £19,204 and £41,065
Maintenance Loan• Maximum £4,840 if living away from home whilst studying
Living Costs 2013/14 UK students from Northern Ireland
Year 1-4, first degree
Living Costs 2013/14 UK students from Northern Ireland
Year 5, first degree
• Maintenance Loan• 2013/14 details to be confirmed• 2012/13 rate approx £2,370 - £1,850 in Final Year
• Department of Health, Social Services and Public Safety Bursary – fully means-tested
• 2013/14 details to be confirmed• 2012/13 max approx.£2,335
Tuition Fees 2013/2014UK students from Scotland
First degree students
• No up-front fees
• Years 1 to 4 = Fee Loan • Year 5 = Fee Grant from Scottish Government
Health Directorate
• Repayment of all borrowing after graduation
2012-2013 rates
Students’ Outside Scotland bursary • Level of support depends on household income. Up to £2,150 per year
Maintenance Loan• Maximum £5,570 if living away from home whilst studying
Additional Loan • Means tested, maximum up to £810
Living Costs 2013/14 UK students from Scotland
Year 1-4, first degree
2012-2013 rates
Scottish Government Health Directorate Bursary•Income assessed; up to £2,455 if living away from home
Non-income assessed Maintenance Loan• Maximum £2,330 if living away from home whilst studying. Final Year rate £1,700
Living Costs 2013/14 UK students from Scotland
Year 5, first degree
Tuition Fees 2013/2014UK students from Wales
First degree students
• No up-front fees
• Years 1 to 4 = Fee Loan + Fee Grant • Year 5 = NHS Wales Fee Grant
• Repayment of all borrowing after graduation
First degree students•Welsh Assembly Fee Grant to cover the increase in fee costs.
– E.g. In 2012-2013 a CONTINUING student will pay a tuition fee of £3,465
– Welsh Assembly Fee Grant will cover difference between this rate and the ACTUAL Tuition Fee being charged to NEW students.
– Welsh students will therefore be able to take out a Tuition Fee Loan of £3,465 and be awarded a Fee Grant of £5,535
Tuition Fees 2013/2014UK students from Wales
2012-2013 rates
Assembly Learning Grant • Amount received depends on your household income• £18,370 or less: Full £5,000 grant, Between £18,371 and £50,020: Partial grant Over £50,020: No grant
Maintenance Loan• Students living away from their parents’ home and studying outside of London: Up to a maximum of £4,745
Living Costs 2013/14 UK students from Wales
Year 1-4, first degree
Living Costs 2013/14 UK students from Wales
Year 5, first degree
• Partial non means-tested Maintenance Loan• 2013/14 details to be confirmed• 2012/13 rate £2324 - £1811 in Final Year
• NHS Bursaries • 2013/14 rates to be confirmed• 2012/13 Non means tested grant £1,000 • Means tested bursary max £2,591
Tuition Fees 2013/2014UK students from England
Graduate entry student: 4-year course• Year 1
• Tuition Fee Loan available to cover gap between fees charged to returning students and fees charged to new students. E.g. 2012/13 continuing students fees = £3465, new students fees = £9,000. Tuition Fee Loan available = £5535.
• Years 2 to 4• NHS Fee Grant to cover level of fees charged to continuing
students• Tuition Fee Loan to cover rest of fees
Living Costs 2013/14 UK students from England
4-year graduate entry• Year 1– Full Maintenance Loan available
• 65% means-tested• Between £3,575 and £5,500 (away from home rate)
• Years 2 to 4– Partial non-means-tested Maintenance Loan
• 2012/13 rate £2324, drops to £1811 in Final Year
– NHS Bursaries • Non means tested grant £1,000• Means tested bursary max £4,395
Tuition Fees 2013/2014UK students from England
Graduate entry students: 5-year course
• Years 1 to 4
• Fees payable by student, no Tuition Fee Loan available
• Year 5
• Partial NHS Fee Grant
Living Costs 2013/14 UK students from England
5-year, second degree• Years 1 to 4
– Full Maintenance Loan available• 65% means-tested• Between £3,575 and £5,500 (away from home rate)
• Year 5– Partial non-means-tested Maintenance Loan
• 2012/3 - £2324 or £1811 in Final year– NHS Bursaries
• Non means tested grant £1,000• Means tested bursary max £4,395
Tuition Fees 2013/2014 UK students from Northern Ireland
• Graduate entry student: 5-year and 4-year courses
• Fees payable by student for full course –no Tuition Fee Loan or NHS Grant
Living Costs 2013/14UK students from Northern Ireland
• Graduate entry student: 5-year and 4-year courses
• Means tested Maintenance Loan of up to £4,840 (2012-2013) available each year, if living away from home whilst studying
• Final Year rate currently £4480
Graduate entry student 4-year course
• Fees payable by student for full course – no loans or Health Directorate support available
Tuition Fees 2013/2014 UK students from Scotland
Living Costs 2013/14 UK students from Scotland
4 - year graduate entry
Years 1 - 4•Full means tested Maintenance Loan
- 2012-2013 rates up to £5,570 per year (£4945 final year rate)
Tuition Fees 2013/14 UK students from Scotland
Graduate entry student: 5-year course
• Years 1 to 4– Fees payable by student, no loan available
• Year 5– Health Directorate Fee Payment (subject to
qualifications)
Years 1 - 4
• Full means tested Maintenance Loan- 2012-2013 rates up to £5,570 per year (£4945 Final Year rate)
Living Costs 2013/14UK students from Scotland
5 -year graduate entry
Living Costs 2013/14UK students from Scotland
5 -year graduate entryYear 5In your fifth year of study onwards, as long as your first degree does not qualify you with a profession, you are eligible to apply for;
2012-2013 rates•Scottish Government Health Directorate Bursary
• Income assessed up to £2,455 if living away from home
•Non-income assessed Maintenance Loan• Maximum £2,330 if living away from home whilst studying (£1700
in Final Year)
Tuition Fees 2013/2014UK students from Wales
Graduate entry student: 4-year course•Year 1
• Tuition Fee Loan available to cover gap between fees charged to continuing students and fees charged to new students. E.g. 2012/13 continuing students fees = £3465, new students fees = £9,000. Tuition Fee Loan available = £5535.
•Years 2 to 4• NHS Fee Grant to cover level of fees charged to
continuing students• Tuition Fee Loan to cover rest of fees
Living Costs 2013/14 UK students from Wales
4-year graduate entry• Year 1
– Full means tested Maintenance Loan • Up to £4745 (away from home rate)
• Years 2 to 4– Partial non-means-tested Maintenance Loan
• 2012/13 rate £2324, drops to £1811 in Final Year
– NHS Bursaries • Non means tested NHS Grant £1,000• Means tested bursary max £2,591
Tuition Fees 2013/2014UK students from Wales
Graduate entry students: 5-year course
• Years 1 to 4
• Fees payable by student, no Tuition Fee Loan available
• Year 5
• NHS Wales Fee Grant
Living Costs 2013/14 UK students from Wales 5-year, second degree
• Years 1 to 4– Full Maintenance Loan available
• Up to £4745 (away from home rate)
• Year 5– Partial non-means-tested Maintenance Loan
• 2012/3 - £2324 or £1811 in Final year– NHS Wales Bursaries
• Non means tested grant £1,000• Means tested bursary max £2591
EU Students
• Students can apply for fee support on the same basis as English domiciled students via the student loan and NHS grant
• Ineligible for living cost support– Some exceptions linked to:
• Length of time in UK• Family situation
Repayment of BorrowingRepayments begin from April after graduation if earning more than £21,000 p.a.
You repay 9% on income above £21,000
• Income £25,000 per year - repayments £30:00 per month
• Income £40,000 per year - repayments £142:50 per month
• Income £50,000 per year - repayments £217:50 per month
• Interest on loans will be applied at inflation (RPI) + 3% up until the April after you leave university
• If you are earning below £21,000 from the April after you leave university, interest will be applied at the rate of inflation
• If you earn between £21,000 and £41,000, interest will be applied between RPI and RPI + 3% on a gradual scale
• Earning above £41,000 interest will be applied at RPI + 3%
Repayment of Borrowing(subject to Parliamentary approval)
National Scholarship ProgrammeUniversity of Leicester National Scholarship • Only available to First Degree students from England (Years 1-4)• £3,000 award - £2,000 towards your tuition fee each year
- £1,000 cash each year• Eligibility linked to household income and academic ability• Application information provided after you receive your offer of a place at
Leicester
CULN College Transition Scholarship• £1,000 cash available in your first year only• For students from colleges which are members of the Colleges-University of
Leicester Network (CULN) • Apply through your local college
Further information at www.le.ac.uk/study/fees
• Parents Learning Allowance £1,508 max
• Childcare Grant max of £148:75 per week for one child and £255 per week for two or more children
• Adult Dependants Grant maximum of £2,642
SFE 2013-2014 rates shown – support may vary regionally
How to meet additional needs
If you are a parent or have an adult dependant you may be eligible for assistance through
additional means tested support
Sources of additional support
• Part-time work
• Bank overdraft / services
• Family
• Savings
• Charities / Trusts– http://www.turn2us.org.uk/– http://www.family-action.org.uk – http://www.money4medstudents.org
Further Information• University of Leicester funding
– www.le.ac.uk/fees
• Student Welfare Service– www.le.ac.uk/welfare– 0116 223 1185– [email protected]– @uolsupport
Further InformationWhere you normally live determines who you
apply to for support and information:
• England 0845 300 5090www.direct.gov.uk/studentfinance
• Northern Ireland Call local ELB www.studentfinanceni.co.uk
• Scotland 0845 111 1711 www.saas.gov.uk
Further Information• Wales 0845 602 8845 www.studentfinancewales.co.uk
www.cyllidmyfyrwyrcymru.co.uk
• NHS 0845 358 6655 www.nhsbsa.nhs.uk/
• NHS Wales 02920 196 167 www.wales.nhs.uk/siteplus/829/home
• EU +44 (0) 141 243 3570 www.direct.gov.uk/studentfinance
Thank you for listening -
any questions?