student funding at oxford and beyond cat murdoch – student recruitment officer
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Student Funding at Oxford and Beyond
Cat Murdoch – Student Recruitment Officer
Outline
• 2012 and beyond funding changes
• Oxford’s proposed student funding package
• What do employers look for?
• Careers in Physics
No student should be deterred from applying to Oxford because of financial considerations.
No student should have to leave because of financial difficulty.
Oxford has amongst the lowest drop-out rates in the country.
Financial Support at Oxford
Costs and Sources of Funds
Living CostsTuition ChargesCOSTS
FUNDING
Tuition Charge Loan
(Repayable)
Tuition Charge Loan
(Repayable)
Student Loan For Maintenance(Repayable)
Student Loan For Maintenance(Repayable)
Maintenance Grant (Non-Repayable)
Maintenance Grant (Non-Repayable)
University Funding (Non-Repayable)
University Funding (Non-Repayable)
&
Government Policy on HE Funding
Prior to 2012
Post 2012
Universities Response
2/3 of Universities have proposed to charge the full amount
15/16 Russell Group Universities have proposed the full amount
Only 7% of institutions will charge less than £8,000
2012-13 Proposals – Tuition Charges
Domicile of student
Location of institution
England Scotland Wales
England Up to £9k Up to £9k? Up to £9k
Scotland Up to £9k £0? Up to £9k
Wales £3,375* £3,375* £3,375*
NI Up to £9k To be confirmed Up to £9k
EU Up to £9k To be confirmed £3,375*
Other international
Variable Variable Variable
Maximum annual tuition charges to a typical undergraduate degree 2012 entryCurrent knowledge (in advance of 5 May elections in Scotland, Wales and NI)
Repayment of Government Loans 9% of earnings over £21,000 threshold
Salary £21,000 - £41,000: Tapered rate of interest, maximum will be Retail Price Index (RPI) plus 3%
Salary £41,000 or more :interest rate of RPI plus 3%
Written off after 30 years
Payment holiday
Early repayment arrangements being considered
Oxford’s Financial Plans for 2012 entryThe principles behind Oxford’s proposal for £9,000 tuition charge
for 2012 entry are:
To maintain our profile of international excellence
A strong commitment that finance should be no barrier to the best and brightest applying to Oxford
Students will continue to receive an unsurpassed education whose real cost is subsidised by the collegiate University by thousands of pounds a year
Oxford provides outstanding value for money in Higher Education in terms of our tutorial teaching, colleges, world leading academics and outstanding facilities
Oxford’s proposed 2012 tuition charge
Household income*
Tuition charge for first year of study
Tuition Charge for subsequent years
£0 - £16,000 £3,500 £6,000
£16,001 - £20,000 £7,000 £7,000
£20,001 - £25,000 £8,000 £8,000
£25,001 + £9,000 £9,000
* Household income is defined as a household’s gross income less pension schemes and superannuation payments eligible for tax relief; less an allowance of £1,130 for each financially dependent child; less £1,130 for parents who are also students.
Oxford Bursaries 2012
Household income Bursary for first year
Bursary for subsequent years
£0 - £16,000 £4,300 £3,300
£16,001 - £20,000 £3,500 £3,000
£20,001 - £25,000 £3,000 £2,500
£25,001 - £30, 000 £2,500 £2,000
£30,001 - £35,000 £2,000 £1,500
£35,001 - £40,000 £1,500 £1,000
£40,001 - £42,600 £1,000 £500
Costs: Estimated Living Costs 2011/12
COST (per year) AMOUNT
ACCOMMODATION £3,400
FOOD & LIVING COSTS £2,350
COURSE COSTS £300
ACTIVITIES £950
TOTAL £7,000
Living Costs at Oxford
University owned accommodation
College scholarships, prizes and awards
Subsidised food and entertainment in College
Availability of course materials
Cheap transport
The Graduate Market in 2011 Graduate vacancies are set to rise by almost 10% in 2011
Employers in key industries and employment areas expect to recruit more graduates in 2011.
Importance of work experience.
The five universities most-often targeted by Britain’s top graduate employers in 2010-2011 are:
» Cambridge » Oxford» Warwick » Manchester » London
Graduate Destinations
National Oxford
Employed or further study
85% 89%
Not available for employment
5% 6%
Still seeking employment
10% 5%
What are employers looking for?
In a survey of 200 Graduate employers conducted by Prospects.ac.uk these were the top 10 skills/attributes they were looking for:
1. Verbal communication skills
2. Enthusiasm
3. Written communication skills
4. Work experience
5. Degree classification
6. Problem solving skills
7. Personal/ transferrable skills
8. Team working
9. Numeracy
10. Business awareness
Benefits• A degree from a top University provides highly marketable
transferrable skills.
• The ‘graduate earnings premium’ from a top university is £80k above the average
• Oxford average starting salary = £25,000 (up to £40,000 for some professions)
• 20% of Oxford undergraduate leavers earn more than £30,000 per year within six months of graduating (compared to 10% of UK leavers overall).
Websiteincl. job & work
experience
vacanciesResource Centre
Careers advisers
Workshops
and talks
Fairs and recruitment events
Work experience programmes
Support Benefits
Careers in Physics
“I think that physicists can do pretty much anything. Our training can be applied to almost any activity, and it allows us to see things in ways that might not be obvious to others”
Simon Singh, science writer and broadcaster.
Care
ers C
onnect O
xfo
rd
o In academic institutionso In research institutes or agency/government laboratorieso In large industrieso In small companies
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Using your subject directlyUsing your subject directly
o Science consulting and market researcho Science policyo Science administrationo Science communicationo Science publishingo Technology transfero Intellectual property and patentso Manufacturingo Technical sales and marketing
22
Using your subject indirectlyUsing your subject indirectly
o Many transferable skills including:
o Problem solving skillso Analytical skillso Time management skillso Numerical abilityo IT skillso Communication skillso Drive, determination and perseverance o Attention to detail
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Moving away from scienceMoving away from science
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EmployersEmployers
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www.physics.org
www.prospects.ac.uk
www.brightrecruits.com / www.iop.org
www.newscientistjobs.com
www.jobsinscience.com/
WebsitesWebsites
Institute of Physics