1. Student finance

2. Student Finance 2012 Sarah Smith Student Adviser De Montfort University

3. Student finance Overview Tuition FeesLiving Costs Scholarship from university Tuition fee loanMaintenance loan Bursary from university National Scholarship Programme Supplementary income

4. Tuition Fees Tuition fees will range between £6,000 - £9,000 per year (likely to be closer to £9,000) Universities must meet OFFA agreements No up-front tuition fees – tuition fee loan

5. Student finance Maintenance Loan Accommodation, food, utilities, travel, course materials, social life – covered by Maintenance Loan What’s available: Living away from home in London Upto £7,675 Living away from home outside London Upto £5,500 Living in family homeUpto £4,375 Means tested on;household income where you live & study year of study

6. Student finance Repayments… Tuition Fee & Maintenance Loan Repayments begin the April after graduation for those earning £21,000 and above New repayment structure means more disposable monthly cash (£85 vs £30 per month if earning £25k) Interest is RPI plus a maximum of 3% (increases with income) After 30 years remaining debt is wiped

7. Student finance Repayments SalaryAmount of salary from which 9% will be deducted Monthly repayment £25,000£4,000£30.00 £30,000£9,000£67.50 £35,000£14,000£105.00 £40,000£19,000£142.50 £45,000£24,000£180.00 £50,000£29,000£217.50 £55,000£34,000£255.00

8. Student finance Things to remember… Council of Mortgage Lenders say student loan debt is “very unlikely” to impact on graduates’ ability to get a mortgage Over a lifetime graduates earn aprx £200,000 more than non-graduates Changes to British industries Paying for “life experience” as well as education

9. Student finance Additional support Means Tested Grant Up to £3,250 per year free money National Scholarship Programme At least £3,000 (some unis do lots more!) – cash and/or discounts on fees or accommodation University Scholarships DMU Scholarship = £1,000/year for 340 UCAS Points University Bursaries DMU Bursary = £350/year for household income <£30k/year

10. Student finance Supplementary income Part-time job Work during holidays Work placements (a chance to save) Banks – overdrafts NHS bursaries Parents?

11. Student finance Graduate Salaries (2009) FacultyAverage graduate salary % in employment or further study 6 months after graduation Art & DesignAverage - £16.59994% Business & LawAverage - £28,89895.9% Health & Life Sciences Average - £23,91097.5% HumanitiesAverage - £17,87795.3% TechnologyAverage - £21,85292.8%

12. Student finance