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STUDENT FINANCIAL SUPPORT 2014 ENTRY WWW.IMPERIAL.AC.UK/STUDENTFINANCE GERRY GREYLING.

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Presentation on theme: "STUDENT FINANCIAL SUPPORT 2014 ENTRY WWW.IMPERIAL.AC.UK/STUDENTFINANCE GERRY GREYLING."— Presentation transcript:

1 STUDENT FINANCIAL SUPPORT 2014 ENTRY GERRY GREYLING

2 INTRODUCTION 2 Let’s talk cost Student Finance England Tuition Fee Loan Maintenance Loan Loan repayment Maintenance Grant Imperial’s Financial Support Package Imperial Bursary Service Discounts Imperial’s Finance Calculator Scholarships Additional Help IMPERIAL COLLEGE LONDON STUDENT FINANCIAL SUPPORT

3 LET’S TALK COST Cost of Living Weekly (£) 39 Weeks (£) 52 Weeks (£) Accommodation1455,6557,540 Food and Utilities552,1452,860 Travel (Zones 1-3 with 18+ Student Oyster) ,248 Personal501,9502,600 Books and Course Costs Total£284£11,076£14,768 IMPERIAL COLLEGE LONDON STUDENT FINANCIAL SUPPORT 3

4 TUITION FEES 4 Imperial Tuition SFE Fee Loan £9000 FT UG Home & EU students Non-means tested Paid directly to Imperial IMPERIAL COLLEGE LONDON STUDENT FINANCIAL SUPPORT

5 MAINTENANCE LOAN 5 London Rate 65% of SFE loan 35% of SFE loan Additional Allowances Living at home: £4,375 Not living at home: £7,675 Non-means tested Means tested Additional Government Grants and Allowances for students from low income households IMPERIAL COLLEGE LONDON STUDENT FINANCIAL SUPPORT Varies for non-England residents

6 LOAN REPAYMENT IMPERIAL COLLEGE LONDON STUDENT FINANCIAL SUPPORT 6 When Cost Deferment Written off April after you finish your degree Earn £21,000 9% of Income above £21,000 Salary of £25,000 = £30 monthly payment Changes from previous years After 30 years

7 JARGON 7 IMPERIAL COLLEGE LONDON STUDENT FINANCIAL SUPPORT Have to repay Get to keep Tuition Fee Loan Maintenance Loan Grant Bursary Scholarship Studentship Fund Award

8 Income £40k-£42,611 MAINTENANCE GRANT Grants paid on a sliding scale according to household income : 8 IMPERIAL COLLEGE LONDON STUDENT FINANCIAL SUPPORT Income < £25k Full grant: £3,354 Income £25k-30k Some grant: £2,416 - £3,354 Income £30k-£35k Some grant: £1,478 - £2,416 Income £35k-£40k Some grant: £540-£1,478 Some grant £50-£540 No grant Income >£42,611

9 IMPERIAL’S FINANCIAL SUPPORT PACKAGE 9 IMPERIAL COLLEGE LONDON STUDENT FINANCIAL SUPPORT Government £42,611 Imperial £60k Service Discounts Accommodation Fee Waiver Bursary Maintenance Support Tuition Fee Loan

10 10 IMPERIAL COLLEGE LONDON STUDENT FINANCIAL SUPPORT IMPERIAL’S FINANCIAL SUPPORT PACKAGE Bursary Accommodation Fee Waiver Service Discounts Tuition Fee Waiver *Subsequent years entitlement paid 100% as a bursary BandHousehold Income Total Financial Support Bursary Service Discount Subsequent years* A£25,000 or less£6,000£1,000£5,000£6,000 B£25,001 - £30,000£5,300£1,000£4,300£5,300 C£30,001 - £35,000£4,600£1,000£3,600£4,600 D£35,001 - £40,000£3,800£1,000£2,800£3,800 E£40,001 - £45,000£3,100£1,000£2,100£3,100 F£45,001 - £50,000£2,400£1,000£1,400£2,400 G£50,001 - £55,000£1,600£1,000£600£1,600 H£55,001 - £60,000£900 £0£900 I£60,001 or more£0

11 11 IMPERIAL COLLEGE LONDON STUDENT FINANCIAL SUPPORT IMPERIAL’S FINANCE CALCULATOR

12 UG SCHOLARSHIPS Scholarships are awarded in two categories; one is based on financial need and the other is based on academic merit and potential. They are available to students from many different backgrounds, studying a range of courses. 12 IMPERIAL COLLEGE LONDON STUDENT FINANCIAL SUPPORT 100 Rector’s Scholarship SantanderKingsbury World Scientific BlueTree Holligrave Rolls Royce T hermo- Fisher

13 OVERVIEW: TUITION FEES 13 IMPERIAL COLLEGE LONDON STUDENT FINANCIAL SUPPORT Imperial Tuition Fees £9,000 Government Tuition Fee Loan Up to £9,000 No immediate tuition fee liability

14 OVERVIEW: COST OF LIVING Imperial Financial Support Up to £6,000 Government Maintenance Grant Grant Up to £3,354 Government Maintenance Loan Loan Up to £7,675 Imperial Scholarships From £1,000 Potential of £17,029 Maintenance Support Maintenance < £25k Maintenance > £42,611 Imperial Financial Support Up to £3, IMPERIAL COLLEGE LONDON STUDENT FINANCIAL SUPPORT

15 EXTRA HELP ONCE YOU’RE HERE 15 IMPERIAL COLLEGE LONDON STUDENT FINANCIAL SUPPORT Access to Learning Fund Government money to help Home students experiencing financial difficulties Can help with on-going living costs or emergency, one- off payments Cannot assist with tuition fees You don’t have to pay it back College Hardship Fund Money to help overseas and EU students experiencing financial difficulties

16 QUESTIONS 16 IMPERIAL COLLEGE LONDON STUDENT FINANCIAL SUPPORT


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