2. Student Finance Roisin Hurst Head of UK Student Recruitment Queen Mary University of London r.m.hurst@qmul.ac.uk

3. What I will cover Tuition fees –Student Loan for Fees Support for living costs –Student Loan for Maintenance –Maintenance Grant –University Bursaries Other sources of help Budgeting

4. Tuition Fees Maximum fees - £6,000 – £9,000 depending on HEI and course Variations between universities and courses No requirement to pay up front Defer payment until end of course

5. Tuition Fees Student Loan for Fees: Available to all eligible students to cover tuition fees; not means-tested Part-time students are eligible for tuition fee loans Students must apply each year for support Loan is paid directly to university Repayment only after student graduates

6. Support for Living Student Loan for Maintenance:  Will be available to all eligible full-time students  Part-time students will not be eligible for maintenance loans  Amount will vary depending on where student is living while they study and their family household income  65% of maximum loan is non means-tested, 35% is means-tested (i.e. linked to household income)

7. Support for Living Student Loan for Maintenance:  Student studying in London, living away from home: maximum - £8,009  Student studying outside London, living away from home: maximum - £5,740  Student living at home: maximum - £4,565  Student studying overseas - £6,820

8. Loan Repayment Repayment of Loans (Fees and Maintenance) Repayments begin April after graduation; students pay 9% of their income above £21,000 £21,000 or less - pay nothing £21,000+ - 9% of income over £21,000 e.g. £21,500 - £4 per month £24,000 - £23 per month £25,000 - £30 per month £21,000 threshold will increase in line with earnings from 2017 onwards

9. Loan Repayment Parents are not responsible for repaying their child’s loans Debt outstanding after 30 years will be written off (graduates would have to earn £42,750 for 30 years before they pay off their loans in full) Interest on the loan will be charged at inflation plus 3% while student is studying and up until the April after they graduate Graduates earning £21,000-£41,000 will be charged interest on a sliding scale up to a maximum of inflation plus 3%

10. Support for Living Maintenance Grant  Full-time students with family income of less than £25,000 entitled to a maintenance grant of up to £3,387 towards living costs  Students from families with an income up to £42,620 entitled to a partial grant  Non-repayable and paid in instalments  Amount of maintenance loan will be reduced by 50p for every £1 of maintenance grant received

11. Support for Living University Bursaries and Scholarships :  Universities will offer scholarships to help students from low income families to cover the costs of tuition and living expenses  Queen Mary: £1,500 a year for students in receipt of full maintenance grant; £1,200 for those who get partial maintenance grant  Excellence Scholarships: for students with high academic achievement

12. Applying for Support Apply online from spring through: www.gov.uk/studentfinance Sharing of information with UCAS Application will assess eligibility and income Based on parent with whom student lives Should hear back within 6 weeks Can track application Apply on time so payment is not late

13. Other sources of support Student Opportunities Fund Parents Savings Part-time/holiday work Student bank accounts (www.moneysavingexpert.com)www.moneysavingexpert.com Budgeting

14. Where the money goes…… Rent/Accommodation Transport Social life Clothes Books Food/meals Mobile phone Joining fee for clubs and societies

15. Where the money goes…… Presents Household items Emergencies/Insurance Bills Visiting family Field trips www.studentcalculator.org.uk

16. Useful Websites  www.studentfinanceengland.co.uk www.studentfinanceengland.co.uk  www.gov.uk/studentfinance www.gov.uk/studentfinance  http://www.qmul.ac.uk/undergraduate/feesandfunding/ http://www.qmul.ac.uk/undergraduate/feesandfunding/  www.nhsbsa.nhs.uk www.nhsbsa.nhs.uk  www.scholarship-search.org.uk www.scholarship-search.org.uk  http://www.thescholarshiphub.org.uk/ http://www.thescholarshiphub.org.uk/  www.nusonline.co.uk www.nusonline.co.uk  www.money4medstudents.org www.money4medstudents.org