Part-time Funding 2013-14Chris Turner

Student Services

Agenda

• Tuition fees • Eligibility• How to apply • Student loan repayments• Useful websites/contacts

Tuition fees• Universities can charge Part time tuition fees of up to

£6,750pa• Part time fees for ‘Designated courses’ at Teesside range

between £3,900pa - £5,400pa• Students can take out a tuition fee loan each year so

everyone can afford to study• The amount of loan a student can apply for cannot

exceed the fee charged by the university• Can apply up to 9 months after the start of your course

Eligibility • Eligibility for Part time funding is dependent on:

- your course- your personal circumstances

Course eligibility • In order to qualify for Government Funding a HE course

(both full and part-time) must be ‘designated’:- A first degree course- A course for the Diploma of Higher Education- A Foundation Degree- A course for the Higher National Diploma or Higher National- Certificate of—

• the Business & Technician Education Council; or• the Scottish Qualifications Authority

- A course for the Certificate of Higher Education- A course for the initial training of teachers

Course eligibility• You must be enrolled on a course which is at least the

equivalent of 25% (normally a minimum of at least 30 Credits) of a full-time course

e.g. Fours years P/T instead of 1 year F/T• Your course must last for at least one year

Your eligibility • You must have ‘settled status’ in the UK i.e. a UK citizen or

have been granted ‘indefinite leave to remain’ by the Home Office.

• You must also have lived in the country for at least three years prior to the beginning of your course. This does not apply to people granted refugee status.

• You are not entitled to the part-time tuition fee loan if you already have a qualification that is equal to or higher than the qualification you wish to study.

How to apply

Complete form and return SFECheck with Finance Department for correct

course fees

Online or paper using PTL1 formAvailable August 2013

Apply to Student Finance Englandwww.slc.co.uk/england

How to apply

SLC pay tuition fee to your university

Start courseAfter 2 weeks, university confirms attendance to SLC

Receive confirmation letter from SFEStates amount of loan available

Additional Government Funding

• Disabled Students Allowance (DSA’s)– Specialist equipment allowance

– Non-medical helpers allowance

– General disabled students’ allowance– Extra travel costs

• Contact Disability Services– 01642 342277 or disability@tees.ac.uk

Additional funding • Disabled Students Allowance

• Specialist equipment allowance• Non-medical helpers allowance• General disabled students’ allowance• Extra travel costs

Contact Disability Services• 01642 342277 or disability@tees.ac.uk

• Access to Learning Fund

Loan repayments • Student loans are very different to commercial credit• Interest rate linked to inflation plus up to 3%• How much you pay depends on how much you earn, not

on how much you owe• Repayments will only start if you are earning over

£21,000 in the April, 4 years after the start of your course

• Low monthly repayments• Outstanding debt written-off after 30 years

Student loan repayments

10k

15k

18k

20k

30kIf you earn less than £21,000

Percentage of income

0%

Monthly repayments

£0

Weekly repayments

£0

10k

15k

18k

20k

30k

£22,000pa

9% of £1,000

Payback 9% of earnings above £21,000

Percentage of Income

£90 (0.41%)

Monthly Repayments

£7.50

Weekly Repayments

£1.73

STUDENT LOAN REPAYMENTS

Student loan repayments

10k

15k

18k

20k

30k

£28,000pa

9% of £7,000

Percentage of income

£630 (2.2%)

Monthly repayments

£52.50

Weekly repayments

£12.11

Payback 9% of earnings above £21,000

Loan repayment example• Graduate earning £30,000pa gross

– Monthly gross income £2,500– Pension (6%) £150– Tax £345– National insurance £195– Net income £1,810– Student loan repayment £67.50 – INCOME £1,743.50

Useful websites• Student Loans Company

www.slc.co.uk/england • Teesside University

www.tees.ac.uk• Student Services

Tel: 01642 342277 Email: studentfinance@tees.ac.uk

• Student loan repaymentswww.studentloanrepayment.co.uk

Any questions?