Money Matters

Student Finance: Key Facts• No one has to pay anything up front to come

to University• Loans are available to cover Tuition Fees and

Living Costs• You only start to repay your loans after you

have graduated And…• Only once you have started to earn over

£21,000 per year

So how does it work?

• You receive a loan to pay your Tuition Fees - £9000 per year in 2012• You also receive a loan to cover your living costs• These are both repayable: However there is also

free money available that you don’t have to repay

• There is a grant from the Government • If you get this and how much depends on your

family's income• There is also a University of Sheffield Bursary…

The University of Sheffield Bursary• The Bursary is more free money, but from this

University if you choose us. • Based on ‘Household Income’, your postcode

and if you are from a Care Background.

Lets have a look at what you could getLoan, Grant & Bursary Chart for 2012-13

Repayable financial supportFree money – yours to keepLiving cost total

Assessed Household Income (£)

Living Cost Loan (£) (Living at

Home)

Living Cost Grant (£)

University Bursary

(£)

Living Cost Total (£) (Living at

Home)

Tuition Fee Loan (£)

18000* 3875(2750)

3250 1400 8525(7400)

9000

25000 3875(2750)

3250 1100 8225(7100)

9000

30000 4330(3205)

2341 750 7421(6296)

9000

35000 4784(3659)

1432 600 6816(5691)

9000

40000 5239(4114)

523 500 6262(5137)

9000

42000 5420(4295)

160 500 6080(4955)

9000

50000 4788(3663)

0 0 4788(3663)

9000

60000 3788(2843)

0 0 3788(2843)

9000

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Loans - how they work• You start repaying your Student Loan (tuition and living cost

loans) – Repayments start in April after you have finished your course– Only once you are earning over £21,000 per year.

• Repayments are taken directly from your wages (like Income Tax)

• Interest is linked with inflation. • Any loan remaining after 30 years will be written off

Disabled Students Allowance (DSA)

DSAs are to help students with the extra costsincurred as a result of disability - Not dependant upon income.

Undergraduate students: • Specialist Equipment• Non Medical Helpers • Other Expenditure• Travel

Part Time Work Opportunities• Not only will a part-time job or vacation work give you extra

cash, it will also give you invaluable experience and confidence.

• The Student Jobshop can help you find part time work during term time, vacations and for your a year out on placement.

• The University is a regular employer of students too!

Scholarships

http://www.scholarship-search.org.uk

Is it worth it?

• It’s up to you to decide this• Decide on what’s best for what you want to

do• Remember you don’t have to pay anything up

front • And Finally… an average graduate earns

£12,000 per year more than a non graduate – (ONS 2011)

19/04/23 © The University of Sheffield / Department of Marketing and Communications

Finally…three things to remember

Apply for all you canwww.direct.gov.uk/studentfinance

Budget realisticallywww.sheffield.ac.uk/moneytools

Contact us if you get into difficultyfinancialhelp@sheffield.ac.ukadvice@sheffield.ac.uk

19/04/23 © The University of Sheffield / Department of Marketing and Communications

@UoSMoneyMatters

moneysavingexpert.com

Thank you &

Are there any questions?

19/04/23 © The University of Sheffield / Department of Marketing and Communications