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Preparing to go to University © IntoUniversity 2015
Student Finance © IntoUniversity 2015
Where Does All The Money Go? © IntoUniversity 2015
How Can I Pay For It? Tuition Fees Tuition Fee Loan (Repayable) Maintenance Costs Maintenance Loan (Repayable) Maintenance Grant (Non-Repayable) Bursaries (Non-Repayable) Other streams – Scholarships, Disabled Students Allowance, Access to Learning Fund, Part time jobs © IntoUniversity 2015
LOANS If you are a full time student, there are two types of loans from the Government Maintenance Loan To help with your living costs All full-time students can also apply for a Maintenance Loan to help with their living costs. The exact amount depends on household income, year of your course, where you live and what help you get through the Maintenance Grant: £4,375 if you live at home £5,500 if you live away from home and study outside London £7,675 if you live away from home and study in London Tuition Fee Loan To cover your tuition fees The Tuition Fee Loan covers the tuition fees you’re charged each year of your course. It’s paid directly to your university or college. (Tuition fees will be between £6,000 to £9,000 per year for full time courses). Loans are repayable after you graduate and when you are earning £21,000 or more. How to apply Online at: http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation or contact your local authority for an application form.http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation © IntoUniversity 2015
Grants There are a number of grants available to help you fund your way through university Maintenance Grants for living Costs Maximum Grant = £3,354 for 2013/14 (Household income £25,000 or less) Who is it for? For 2013/14 entry, a Maintenance Grant is available to help with your living costs if your household income is £42,611 or less. The maintenance (living costs) grant affects the level of the loan you are entitled to. Find more information at www.gov.uk www.gov.uk Special Support Grant Maximum Grant = £3,354 Who is it For? UK Students from lower income families who are lone parents with dependent children, have dependent children and a partner who is also a student, who is over 60, or who is eligible for certain disability benefits. This grant is assessed in the same way as the living cost (maintenance) grant. The only difference is that the grant entitles students to an increased student loan for maintenance. Apply by completing an application form available from www.studentfinancedirect.co.uk and send it to your local authority. www.studentfinancedirect.co.uk Hardship Fund The university assesses the amount according to the individual circumstances. Who is it for? Full- time students and part-time students. The fund can help you if you are in financial hardship, have unexpected emergency costs, or if you are thinking of giving up your course because of financial difficulties. The ALF does not cover tuition fees. Contact your student advice centre at your university for more information. © IntoUniversity 2015
Financial Support Household income Loan for Living Costs (outside London, not living with parents) Non-Repayable Grant Total £25,000 or less£3,823£3,354£7,177 £30,000£4,292£2,416£6,708 £35,000£4,761£1,478£6,239 £40,000£5,475£540£5,770 £42,600£5,475£50 (min grant)£5,525 £42,875£5,500 (max loan)£0£5,500 £50,000£4,788£0£4,788 £60,000£3,788£0£3,788 £62,125 or over£3,575£0£3,575 © IntoUniversity 2015
Banks High street banks like Barclays and HSBC compete for student business and will try and entice you with freebies! Offers to students opening an account in 2014 includes; Free cinema tickets Internet and mobile security A high street discount card A free 16-25 year railcard STUDENT ACCOUNT HOLDERS Don’t get tempted by the best sounding freebies though. Try and look into which bank gives you the best access to money and pick one which won’t charge you heavily if you over spend. © IntoUniversity 2015
What is an overdraft? An overdraft is extra money given to you by your bank, which allows you to spend more money than you have in your account. You could get up to £3,000 extra to help you with your studies. Whilst you are at University, many banks will offer ‘interest-free’ overdrafts, which means that if you have to go into your overdraft, they won’t charge you any extra money. You should consider your overdraft as ‘back-up money’ and not become too reliant on it! Be careful not to go over your overdraft limit. If you do your bank is likely to charge you a LOT of money – those new shoes are just not worth it! Remember! Your overdraft is a loan from the bank. If you use it, you will have to pay it back! © IntoUniversity 2015
Studying at University How is it different? © IntoUniversity 2015
Student Life On-going situation © IntoUniversity 2015
Top Tips What to do before you start © IntoUniversity 2015
1. Make a List Make a list of everything that you need to take with you when you go to university to make sure you don’t forget anything. © IntoUniversity 2015
2. Make friends before you arrive You’ll meet lots of people when you arrive, but university Facebook pages are a great way to make friends before you get there and can make things less daunting. © IntoUniversity 2015
3. Budget It’s a good idea to plan your finances before you arrive and think about giving yourself a weekly allowance. © IntoUniversity 2015
4. Gather documents When you enrol you’ll need documents such as your offer letter, student loan company letters and accommodation information. © IntoUniversity 2015
5. Your new home Do some research about where you’re going to be living so that you’re prepared to explore off campus too. © IntoUniversity 2015
6. Ask questions Universities understand that students will have questions before they arrive. © IntoUniversity 2015
Question and Answer © IntoUniversity 2015
Overview of Workshops ModuleWorkshop Title and Topic 1Why Higher Education? Introduction to the benefits of choosing higher education 2Choosing the Right Course Looks at the key factors to be considered 3 4Introduction to Personal Statements Students plan their own statements using a structured approach 5Preparing for Interviews Acquiring effective verbal and non verbal communication skills 6Preparing to Go to University Practical steps to having a smooth transition from home to university life 7Student Finance Overview of the main areas of student finance and information on how to apply The Supplementary Schools Project Teacher’s Toolkit consists of: © IntoUniversity 2015
Student Finance © IntoUniversity Do you know the facts? Student Finance © IntoUniversity 2015.
Overview of Workshops ModuleWorkshop Title and Topic 1Why Higher Education? Introduction to the benefits of choosing higher education 2Choosing the Right.
£ 12_ /13 Student Finance explained. 12_13 12/13 Financing your future Thinking about what you are going to study and how you are going to pay for.
Quiz time! Q: How much does this textbook cost? A: £24.99 (Amazon)
Student Fees and Financial Support Vicki Carver
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FINANCE Steve Wilson. The Cost of Higher Education Student Loans for Tuition Fees Student Loans for Living Costs / Maintenance.
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Student Fees and Financial Support. Student Fees & Financial Support Student fees and financial support can be broken down into three main areas: Tuition.
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2015/16 STUDENT FINANCE MATTERS.
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