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Student finance in 2015/16 Jo Tolley Widening Participation Coordinator.

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Presentation on theme: "Student finance in 2015/16 Jo Tolley Widening Participation Coordinator."— Presentation transcript:

1 Student finance in 2015/16 Jo Tolley Widening Participation Coordinator

2 Impartial information, advice and guidance to help you make a strong application to higher education Talks and workshops on choosing the right course and making your UCAS application Advice on student finance and funding Opportunities to visit the University of Brighton Advice for parents and carers What is the Compact?

3 What is the Plus Programme? The Plus Programme provides additional support for groups who are under represented at university Not all students have the same opportunities and for some progression to university can be more challenging All universities are required to support wider access to higher education

4 Shadowing 1-1 personal statement surgeries Mock interviews Free taster days/summer schools You may be eligible for financial support through the Compact Plus bursary scheme – (means tested) Opportunities to work for the university as an ambassador Additional support available:

5 You will need to meet either one of the following criteria: Students leaving care Young carers Students with a disability or learning difficulty Have refugee or asylum seeker status in the UK Am I eligible for the Plus Programme? OR two of the following criteria: Students from areas where fewer than average people go to uni First generation to go to university (not including siblings) Students in receipt of free school meals or bursaries

6 Graduates are 10% more likely to be employed Average graduate starting salary = £22,000 Average non-graduate starting salary = £15,000 Graduates earn £200,000 more over lifetime Gain independence and skills Have fun and study a subject of interest Improve career prospects Why go to uni..?

7 Starting Salaries… Non-GraduateGraduate Builder £15,807£21,864 Vet £18,880 £25,690 Accountant £16,179 £21,383 Nurse £22,626 Lawyer £14,916 £19,629 Doctor £29,383

8 2015/16 HE Student Funding package Tuition fees do not have to be paid up front Tuition Fee and Maintenance Loans available Maintenance Grants up to £3,387 Check individual university arrangements for: - Bursaries: for students with children/mature students with existing financial commitments/low-income family/disabled/previously in care/homeless or living in a foyer - Scholarships - usually linked to academic or sporting performance

9 Extra help available: Students from low income families can apply for:  National Scholarship Programme Income under £25,000 Either £1000, help with fees & accommodation, or free foundation year  Income Support Min. £57.35 per week Bursaries/hardship funds through University

10 Extra help available: Students with children or dependent adults can apply for:  Childcare Grant up to £ a week for 1 child, or £ a week for 2 or more children Helps with childcare costs for children under 15, or under 17 if they have special educational needs.  Parents’ Learning Allowance up to £1,523 a year to help pay for books, study materials and travel.  Adult Dependents’ Grant Up to £2,642 per year  Child Tax Credit  Bursaries/hardship funds through University

11 Extra help available: Students with a disability, long-term health condition or specific learning difficulty can apply for:  Disabled Students’ Allowances Amount depends on individual needs rather than income  You may also qualify for disability related benefits  Bursaries/hardship funds through University

12 Extra help available: Medical, social work and teacher training students can apply for:  NHS bursaries  Help with travel costs to UK clinical placements medical, dentistry or healthcare students  Social Work Bursaries  Extra help for teacher training students

13 Student typeTuition fee UK/EU£9,000 International£10,500 International lab-based£12,500 Students on placement£750 Most universities charging £8,500 - £9,000 tuition fee Lower fees for courses delivered within FE colleges: £6,000 - £7,500 Variable Placement Year fees: £500 to £4,500 e.g. The University of Brighton Bursaries (linked to income) for:  Care leavers  UoB Compact Plus students  Access to Architecture, Pharmacy and Teaching Scholarships:  Academic – £1,000 based on results in Year 1  Sports - elite and national performance  Disabled Athletes’ Scholarships Student Support Fund

14 Maintenance Loan dependent on income: Max. studying outside London: £5,740 Max. studying in London: £8,009 Max. living at home: £4,565 Max. Studying overseas as part of course: £6,820 Maintenance grants available when family income below £42,611 Government funding for full-time UK Undergraduates: 2015 entry Living away from home and studying outside London Household Income Maintenance Loan Non-repayable Maintenance Grant Total £25,000 or less £3,861£3,387£7,248 £30,000 £4,335£2,440£6,775 £35,000 £4,808£1,492£6,300 £40,000 £5,282£545£5,827 £42,611 £5,740£50 (min. grant) £5,605 £42,875 £5,555£0£5,555 £45,000 £5,340£0£5,340 £50,000 £4,836£0£4,836 £55,000 £4,330£0£4,330 £60,000 £3,825£0£3,825 Over £62,125 £3,610£0£3,610

15 Weekly OutgoingsLiving in HallsLiving off Campus Rent £ £ Utilities £0£8 Phone £2 - £7 TV Licence £0-4£4 Contents Insurance £0£2 Food/Domestic Items £10-£40£30 - £40 Travel £0 - £15 Clothing £5 - £10 Laundry £2 - £5 Study materials £5 Entertainment £10 - £100 Totals £ £143 - £311 Average weekly cost of living: Brighton - £210 Eastbourne - £190 NB: for some courses, such as Art and Design and Architecture, study materials costs will be much higher The cost of living

16 Household Income £ 25,000 £ 30,000 £ 40,000 £ 50,000 £ 62,125+ Maintenance Grant 3,3872,440545Nil Maintenance Loan3,8614,3355,2824,8363,610 Part-time work £6.50 x 15 hrs/pw 3,802 Annual Total11,05010,5779,6298,6387,412 Weekly Income (39 weeks) Average weekly cost of living: Brighton - £210 Eastbourne - £190 Students from lower income families may also be eligible for university bursaries (max. £1,000 per year) Fee discounts may also be available Possible weekly term-time income based on 39 weeks:

17 NHS funded courses NHS will continue to fully fund:  Dieticians  Midwives  Nurses  Occupational Therapists  Orthoptists  Physiotherapists  Podiatrists  Prosthetists  Orthotists  Radiographers  Speech Therapists All students eligible for £1,000 grant Reduced Maintenance Loan available to all Apply through SFE for loan

18 All students eligible for £1,000 grant Reduced Maintenance Loan available to all Apply through SFE for loan NHS Funded – 30 week courses If you will be studying and living: Non-means tested Grant Means tested Bursary (max) Non-means tested Maintenance Loan In London: Independently £1,000£3,128£3,295 Elsewhere in England (UK for medical and dental students): Independently £1,000£2,591£2,347 Anywhere in England (UK for medical and dental students): With parents £1,000£2,163£1,761

19 All students eligible for £1,000 grant Reduced maintenance loan available to all Apply through SFE for loan NHS funded – 45 weeks If you will be studying and living: Non-means tested Grant Means tested Bursary (maximum) Non-means tested Maintenance Loan In London: Independently £1,000£5,460£3,295 Elsewhere in England (UK for medical and dental students): Independently £1,000£4,395£2,347 Anywhere in England (UK for medical and dental students): With parents £1,000£3,351£1,761

20 Affordable repayment system: Interest rate based on RPI (1.5% for ) Student loans do not go on credit files Cleared after 30 years Early repayments - no penalties Source: Student Finance England Repayments Each month the graduate pays back 9% of any income over £21,000

21 Student Finance Martin Lewis – Money Saving Expert

22 Applying for funding HEFCE courses: Student Finance England (SFE)  One application to assess eligibility for grants, loans and university bursaries  Apply online:  Student Passport Number for identification  Household income confirmation - NI number and income identified on last P60  Apply spring of entry year  Deadline – end of May to guarantee money available for start of term NHS funded courses: NHS for fees, grant and means- tested bursary, apply online:

23 Getting the money Enrol in person at beginning of autumn term:  University confirms that student has enrolled  Money transferred to student bank account via BACS  Paid in termly instalments

24 Part-time work whilst studying No more than 15 hours work per week recommended Flexible working hours Opportunities: transfer from home town or visit the university job shop Consider working for the Student Union or the university, as a student ambassador

25 Useful websites bursarymap.direct.gov.uk https://www.youtube.com/watch?v=1iz MDidvJtE


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