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MEDICINE OPEN DAY Student Finance 2013/2014. Introduction Details relating to funding arrangements for academic year 2013/14 yet to be fully confirmed.

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Presentation on theme: "MEDICINE OPEN DAY Student Finance 2013/2014. Introduction Details relating to funding arrangements for academic year 2013/14 yet to be fully confirmed."— Presentation transcript:

1 MEDICINE OPEN DAY Student Finance 2013/2014

2 Introduction Details relating to funding arrangements for academic year 2013/14 yet to be fully confirmed. Please be aware that full regulations still to be laid before, and agreed to, by Parliament Updates available in Summer/Autumn of 2012

3 Aims To provide an overview of funding arrangements from 2013/4 onwards Allow prospective students to gain a better understanding of the types of support they may be entitled to To ensure prospective students know where to get further advice and guidance

4 Funding The funding arrangements vary depending on where you normally live: –England –Northern Ireland –Scotland –Wales –Non-UK European Union

5 Modes of Study The MBChB is offered as either a 5-year course or a 4-year graduate entry. The funding differs in three ways: –5-year, first degree –5-year, graduate –4-year, graduate entry

6 Tuition Fees 2013/2014 All new Home (UK and EU) students will be charged £9,000 per year from September 2012 Fees for yet to be confirmed

7 Tuition Fees 2013/2014 UK students from England First degree students No up-front fees Years 1 to 4 = Fee Loan Year 5 = NHS Fee Grant Repayment of all borrowing after graduation

8 Living Costs UK students from England First degree Parents/spouse means-tested to determine level of funding

9 Living Costs 2013/14 UK students from England Years 1 to 4, first degree Maintenance Grant Fully means-tested payable on sliding scale up to income of £42,611 max £3,354 if income £25,000 or less Maintenance Loan 35% means-tested Maximum Maintenance Loan rates 2013/14 - Students living away from home £5,500 - Students living at home £4,375

10 Living Costs UK students from England Years 1 to 4, first degree Maintenance LOAN entitlement is reduced if student receives a GRANT LOAN is reduced by 50p for every £1 of Maintenance GRANT payable E.G. Maintenance Grant of £1000 = £500 reduction in Maintenance Loan

11 Household Income GrantLoanTOTAL £25,000 or less£3,354£3,823£7,177 £30,000£2,416£4,292£6,708 £35,000£1,478£4,761£6,239 £40,000£540£5,230£5,770 £42,611£50£5,475£5,525 £42,875£0£5,500 £50,000£0£4,788 £55,000£0£4,288 £60, 000£0£3,788 £62,125£0£3,575 Living Costs UK students from England Years 1 to 4, first degree

12 Living Costs 2013/14 UK students from England Year 5, first degree Partial non means-tested Maintenance Loan *£2,324 – Final Year £1,811 NHS Bursaries Non means tested grant £1,000 *Means tested bursary max £2591 (30 weeks), £4,395 (45 weeks) *“away from home” rates

13 Tuition Fees 2013/2014 UK students from Northern Ireland First degree students No up-front fees Years 1 to 4 = Fee Loan Year 5 = Fees paid by Department of Health, Social Services and Public Safety Repayment of all borrowing after graduation

14 rates Maintenance Grant Level of support depends on household income Up to £3,475 per year if income below £19,203. Partial grant if income between £19,204 and £41,065 Maintenance Loan Maximum £4,840 if living away from home whilst studying Living Costs 2013/14 UK students from Northern Ireland Year 1-4, first degree

15 Living Costs 2013/14 UK students from Northern Ireland Year 5, first degree Maintenance Loan 2013/14 details to be confirmed 2012/13 rate approx £2,370 - £1,850 in Final Year Department of Health, Social Services and Public Safety Bursary – fully means-tested 2013/14 details to be confirmed 2012/13 max approx.£2,335

16 Tuition Fees 2013/2014 UK students from Scotland First degree students No up-front fees Years 1 to 4 = Fee Loan Year 5 = Fee Grant from Scottish Government Health Directorate Repayment of all borrowing after graduation

17 rates Students’ Outside Scotland bursary Level of support depends on household income. Up to £2,150 per year Maintenance Loan Maximum £5,570 if living away from home whilst studying Additional Loan Means tested, maximum up to £810 Living Costs 2013/14 UK students from Scotland Year 1-4, first degree

18 rates Scottish Government Health Directorate Bursary Income assessed; up to £2,455 if living away from home Non-income assessed Maintenance Loan Maximum £2,330 if living away from home whilst studying. Final Year rate £1,700 Living Costs 2013/14 UK students from Scotland Year 5, first degree

19 Tuition Fees 2013/2014 UK students from Wales First degree students No up-front fees Years 1 to 4 = Fee Loan + Fee Grant Year 5 = NHS Wales Fee Grant Repayment of all borrowing after graduation

20 First degree students Welsh Assembly Fee Grant to cover the increase in fee costs. –E.g. In a CONTINUING student will pay a tuition fee of £3,465 – Welsh Assembly Fee Grant will cover difference between this rate and the ACTUAL Tuition Fee being charged to NEW students. –Welsh students will therefore be able to take out a Tuition Fee Loan of £3,465 and be awarded a Fee Grant of £5,535 Tuition Fees 2013/2014 UK students from Wales

21 rates Assembly Learning Grant Amount received depends on your household income £18,370 or less: Full £5,000 grant, Between £18,371 and £50,020: Partial grant Over £50,020: No grant Maintenance Loan Students living away from their parents’ home and studying outside of London: Up to a maximum of £4,745 Living Costs 2013/14 UK students from Wales Year 1-4, first degree

22 Living Costs 2013/14 UK students from Wales Year 5, first degree Partial non means-tested Maintenance Loan 2013/14 details to be confirmed 2012/13 rate £ £1811 in Final Year NHS Bursaries 2013/14 rates to be confirmed 2012/13 Non means tested grant £1,000 Means tested bursary max £2,591

23 Tuition Fees 2013/2014 UK students from England Graduate entry student: 4-year course Year 1 Tuition Fee Loan available to cover gap between fees charged to returning students and fees charged to new students. E.g. 2012/13 continuing students fees = £3465, new students fees = £9,000. Tuition Fee Loan available = £5535. Years 2 to 4 NHS Fee Grant to cover level of fees charged to continuing students Tuition Fee Loan to cover rest of fees

24 Living Costs 2013/14 UK students from England 4-year graduate entry Year 1 –Full Maintenance Loan available 65% means-tested Between £3,575 and £5,500 (away from home rate) Years 2 to 4 –Partial non-means-tested Maintenance Loan 2012/13 rate £2324, drops to £1811 in Final Year –NHS Bursaries Non means tested grant £1,000 Means tested bursary max £4,395

25 Tuition Fees 2013/2014 UK students from England Graduate entry students: 5-year course Years 1 to 4 Fees payable by student, no Tuition Fee Loan available Year 5 Partial NHS Fee Grant

26 Living Costs 2013/14 UK students from England 5-year, second degree Years 1 to 4 –Full Maintenance Loan available 65% means-tested Between £3,575 and £5,500 (away from home rate) Year 5 –Partial non-means-tested Maintenance Loan 2012/3 - £2324 or £1811 in Final year –NHS Bursaries Non means tested grant £1,000 Means tested bursary max £4,395

27 Tuition Fees 2013/2014 UK students from Northern Ireland Graduate entry student: 5-year and 4-year courses Fees payable by student for full course – no Tuition Fee Loan or NHS Grant

28 Living Costs 2013/14 UK students from Northern Ireland Graduate entry student: 5-year and 4-year courses Means tested Maintenance Loan of up to £4,840 ( ) available each year, if living away from home whilst studying Final Year rate currently £4480

29 Graduate entry student 4-year course Fees payable by student for full course – no loans or Health Directorate support available Tuition Fees 2013/2014 UK students from Scotland

30 Living Costs 2013/14 UK students from Scotland 4 - year graduate entry Years Full means tested Maintenance Loan rates up to £5,570 per year (£4945 final year rate)

31 Tuition Fees 2013/14 UK students from Scotland Graduate entry student: 5-year course Years 1 to 4 –Fees payable by student, no loan available Year 5 –Health Directorate Fee Payment (subject to qualifications)

32 Years Full means tested Maintenance Loan rates up to £5,570 per year (£4945 Final Year rate) Living Costs 2013/14 UK students from Scotland 5 -year graduate entry

33 Year 5 In your fifth year of study onwards, as long as your first degree does not qualify you with a profession, you are eligible to apply for;profession rates Scottish Government Health Directorate Bursary Income assessed up to £2,455 if living away from home Non-income assessed Maintenance Loan Maximum £2,330 if living away from home whilst studying (£1700 in Final Year)

34 Tuition Fees 2013/2014 UK students from Wales Graduate entry student: 4-year course Year 1 Tuition Fee Loan available to cover gap between fees charged to continuing students and fees charged to new students. E.g. 2012/13 continuing students fees = £3465, new students fees = £9,000. Tuition Fee Loan available = £5535. Years 2 to 4 NHS Fee Grant to cover level of fees charged to continuing students Tuition Fee Loan to cover rest of fees

35 Living Costs 2013/14 UK students from Wales 4-year graduate entry Year 1 –Full means tested Maintenance Loan Up to £4745 (away from home rate) Years 2 to 4 –Partial non-means-tested Maintenance Loan 2012/13 rate £2324, drops to £1811 in Final Year –NHS Bursaries Non means tested NHS Grant £1,000 Means tested bursary max £2,591

36 Tuition Fees 2013/2014 UK students from Wales Graduate entry students: 5-year course Years 1 to 4 Fees payable by student, no Tuition Fee Loan available Year 5 NHS Wales Fee Grant

37 Living Costs 2013/14 UK students from Wales 5-year, second degree Years 1 to 4 –Full Maintenance Loan available Up to £4745 (away from home rate) Year 5 –Partial non-means-tested Maintenance Loan 2012/3 - £2324 or £1811 in Final year –NHS Wales Bursaries Non means tested grant £1,000 Means tested bursary max £2591

38 EU Students Students can apply for fee support on the same basis as English domiciled students via the student loan and NHS grant Ineligible for living cost support –Some exceptions linked to: Length of time in UK Family situation

39 Repayment of Borrowing Repayments begin from April after graduation if earning more than £21,000 p.a. You repay 9% on income above £21,000 Income £25,000 per year - repayments £30:00 per month Income £40,000 per year - repayments £142:50 per month Income £50,000 per year - repayments £217:50 per month

40 Interest on loans will be applied at inflation (RPI) + 3% up until the April after you leave university If you are earning below £21,000 from the April after you leave university, interest will be applied at the rate of inflation If you earn between £21,000 and £41,000, interest will be applied between RPI and RPI + 3% on a gradual scale Earning above £41,000 interest will be applied at RPI + 3% Repayment of Borrowing (subject to Parliamentary approval)

41 National Scholarship Programme University of Leicester National Scholarship Only available to First Degree students from England (Years 1- 4) £3,000 award- £2,000 towards your tuition fee each year - £1,000 cash each year Eligibility linked to household income and academic ability Application information provided after you receive your offer of a place at Leicester CULN College Transition Scholarship £1,000 cash available in your first year only For students from colleges which are members of the Colleges- University of Leicester Network (CULN) Apply through your local college Further information at

42 Parents Learning Allowance £1,508 max Childcare Grant max of £148:75 per week for one child and £255 per week for two or more children Adult Dependants Grant maximum of £2,642 SFE rates shown – support may vary regionally How to meet additional needs If you are a parent or have an adult dependant you may be eligible for assistance through additional means tested support

43 Sources of additional support Part-time work Bank overdraft / services Family Savings Charities / Trusts –http://www.turn2us.org.uk/ –http://www.family-action.org.ukhttp://www.family-action.org.uk –http://www.money4medstudents.org

44 Further Information University of Leicester funding –www.le.ac.uk/feeswww.le.ac.uk/fees Student Welfare Service –www.le.ac.uk/welfarewww.le.ac.uk/welfare –

45 Further Information Where you normally live determines who you apply to for support and information: England Northern Ireland Call local ELB Scotland

46 Further Information Wales NHS NHS Wales EU+44 (0)

47 Thank you for listening - any questions?


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