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Student Funding at Oxford and Beyond Cat Murdoch – Student Recruitment Officer.

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Presentation on theme: "Student Funding at Oxford and Beyond Cat Murdoch – Student Recruitment Officer."— Presentation transcript:

1 Student Funding at Oxford and Beyond Cat Murdoch – Student Recruitment Officer

2 Outline 2012 and beyond funding changes Oxford’s proposed student funding package What do employers look for? Careers in Physics

3  No student should be deterred from applying to Oxford because of financial considerations.  No student should have to leave because of financial difficulty.  Oxford has amongst the lowest drop-out rates in the country. Financial Support at Oxford

4 Costs and Sources of Funds Living Costs Tuition Charges COSTSCOSTS FUNDINGFUNDING Tuition Charge Loan (Repayable) Student Loan For Maintenance (Repayable) Student Loan For Maintenance (Repayable) Maintenance Grant (Non-Repayable) University Funding (Non-Repayable) &

5 Government Policy on HE Funding Prior to 2012 Post 2012

6 Universities Response  2/3 of Universities have proposed to charge the full amount  15/16 Russell Group Universities have proposed the full amount  Only 7% of institutions will charge less than £8,000

7 2012-13 Proposals – Tuition Charges Domicile of student Location of institution EnglandScotlandWales EnglandUp to £9kUp to £9k?Up to £9k ScotlandUp to £9k£0?Up to £9k Wales£3,375* NIUp to £9kTo be confirmedUp to £9k EUUp to £9kTo be confirmed£3,375* Other international Variable Maximum annual tuition charges to a typical undergraduate degree 2012 entry Current knowledge (in advance of 5 May elections in Scotland, Wales and NI)

8 Repayment of Government Loans  9% of earnings over £21,000 threshold  Salary £21,000 - £41,000: Tapered rate of interest, maximum will be Retail Price Index (RPI) plus 3%  Salary £41,000 or more :interest rate of RPI plus 3%  Written off after 30 years  Payment holiday  Early repayment arrangements being considered

9 Oxford’s Financial Plans for 2012 entry The principles behind Oxford’s proposal for £9,000 tuition charge for 2012 entry are:  To maintain our profile of international excellence  A strong commitment that finance should be no barrier to the best and brightest applying to Oxford  Students will continue to receive an unsurpassed education whose real cost is subsidised by the collegiate University by thousands of pounds a year  Oxford provides outstanding value for money in Higher Education in terms of our tutorial teaching, colleges, world leading academics and outstanding facilities

10 Oxford’s proposed 2012 tuition charge Household income* Tuition charge for first year of study Tuition Charge for subsequent years £0 - £16,000£3,500£6,000 £16,001 - £20,000£7,000 £20,001 - £25,000£8,000 £25,001 +£9,000 * Household income is defined as a household’s gross income less pension schemes and superannuation payments eligible for tax relief; less an allowance of £1,130 for each financially dependent child; less £1,130 for parents who are also students.

11 Oxford Bursaries 2012 Household incomeBursary for first year Bursary for subsequent years £0 - £16,000£4,300£3,300 £16,001 - £20,000£3,500£3,000 £20,001 - £25,000£3,000£2,500 £25,001 - £30, 000£2,500£2,000 £30,001 - £35,000£2,000£1,500 £35,001 - £40,000£1,500£1,000 £40,001 - £42,600£1,000£500

12 Costs: Estimated Living Costs 2011/12 COST (per year)AMOUNT ACCOMMODATION£3,400 FOOD & LIVING COSTS£2,350 COURSE COSTS£300 ACTIVITIES £950 TOTAL £7,000

13 Living Costs at Oxford  University owned accommodation  College scholarships, prizes and awards  Subsidised food and entertainment in College  Availability of course materials  Cheap transport

14 The Graduate Market in 2011  Graduate vacancies are set to rise by almost 10% in 2011  Employers in key industries and employment areas expect to recruit more graduates in 2011.  Importance of work experience.  The five universities most-often targeted by Britain’s top graduate employers in 2010-2011 are: »Cambridge »Oxford »Warwick »Manchester »London

15 Graduate Destinations NationalOxford Employed or further study 85%89% Not available for employment 5%6% Still seeking employment 10%5%

16 What are employers looking for?  In a survey of 200 Graduate employers conducted by these were the top 10 skills/attributes they were looking for: 1.Verbal communication skills 2.Enthusiasm 3.Written communication skills 4.Work experience 5.Degree classification 6.Problem solving skills 7.Personal/ transferrable skills 8.Team working 9.Numeracy 10.Business awareness

17 Benefits A degree from a top University provides highly marketable transferrable skills. The ‘graduate earnings premium’ from a top university is £80k above the average Oxford average starting salary = £25,000 (up to £40,000 for some professions) 20% of Oxford undergraduate leavers earn more than £30,000 per year within six months of graduating (compared to 10% of UK leavers overall).

18 Website incl. job & work experienc e vacancies Resource Centre Careers advisers Workshops and talks Fairs and recruitment events Work experience programmes Support Benefits

19 Careers in Physics “ I think that physicists can do pretty much anything. Our training can be applied to almost any activity, and it allows us to see things in ways that might not be obvious to others ” Simon Singh, science writer and broadcaster.

20 Careers Connect Oxford

21 o In academic institutions o In research institutes or agency/government laboratories o In large industries o In small companies 21 Using your subject directly

22 o Science consulting and market research o Science policy o Science administration o Science communication o Science publishing o Technology transfer o Intellectual property and patents o Manufacturing o Technical sales and marketing 22 Using your subject indirectly

23 o Many transferable skills including: o Problem solving skills o Analytical skills o Time management skills o Numerical ability o IT skills o Communication skills o Drive, determination and perseverance o Attention to detail 23 Moving away from science

24 24 Employers

25 25 / Institute of Physics

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