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Student Finance 2014 Schools and Colleges Liaison Student Finance 2015 Schools and Colleges Liaison.

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Presentation on theme: "Student Finance 2014 Schools and Colleges Liaison Student Finance 2015 Schools and Colleges Liaison."— Presentation transcript:

1 Student Finance 2014 Schools and Colleges Liaison Student Finance 2015 Schools and Colleges Liaison

2 The profession requires it To give you enhanced subject knowledge To enhance your employment prospects Why consider going to university? Times Higher Award Employer Engagement

3 Increased earnings potential International recognition Route to higher qualifications Life experience What are the benefits? World Class Teaching and Research

4 The UCAS process timeline – 2015 entry 1 st September 15 th October 15 th January Late January 25 th February 24 th March 6 th May 31 st May 30 th June 1 st July 2 nd July 13 th August 31 st August 21 st September Application cycle opens Deadline for Oxbridge, Medicine, Dentistry and Vet. Science Deadline for applications made by schools and colleges Student Finance England (SFE) opens for applications UCAS Extra opens Deadline for certain Art and Design courses Deadline for students to make their Firm and Insurance choice SFE deadline for guaranteeing funding being in place Deadline for receiving applications by the normal route Clearing opens Deadline for applications via UCAS Extra Results day. Clearing vacancies published and Adjustment starts Adjustment closes Final deadline for applications for 2015 entry Excellent Graduate Employment

5 No upfront payments required Bigger borrowing does not increase repayment amount Loans are written off after 30 years The things you need to know £160 million investment in our campus

6 Tuition fee loan Maintenance loan Maintenance grant Additional funding sources The Financial Support Winner of the HE Students’ Union of the Year award 2014

7 Fees up to £9,000 Everyone entitled to the loan Can be a full or partial loan Paid directly to institution Apply for each year of study Tuition fee loan The Media Archive for Central England is located on campus

8 Available to all; partly means tested 100% amount depends on where you decide to live whilst at university £4,565 at home £5,740 away from home £8,009 away from home, in London Three instalments The exact amount you get is based on your household income (thresholds are £25,000 to £58,200 at home, £62,143 outside London, £69,766 in London) This loan is applied for each year you study Maintenance loan One of the Safest University Cities in the East Midlands

9 Additional help for low household income students and is wholly means tested The maximum students will receive is £3,387 The thresholds for household income are £25,000 to £42,875 This grant is not repayable Applied for each year you study Maintenance grant Excellent Scholarship Packages

10 Disabled Students’ Allowance Adult Dependents’ Grant Childcare Grant Parents’ Learning Allowance All of the above are non-repayable Applied for each year you study Potential extra support Journalism and Psychology courses ranked top 10 in UK

11 Package of support for 15/16 Household Income Maintenance Loan (repayable) Maintenance Grant (non-repayable) Total Support Package £25,000 or less£2,872£4,047£6,316 £3,387£6,259£7,434£9,703 £30,000£3,345£4,520£6,789 £2,441£5,687£6,961£9,230 £35,000£3,818£4,993£7,262 £1,494£5,312£6,487£8,756 £40,000£4,292£5,467£7,736 £547£4,839£6,014£8,283 £42,620£4,540£5,715£7,984 £50 (min grant)£4,590£5,755£8,034 £42,875 £4,565£5,740£8,009 £0£4,565£5,740£8,009 £45,000£4,344£5,519£7,788 £0£4,344£5,519£7,788 £50,000£3,823£4,998£7,267 £0£3,823£4,998£7,267 £55,000£3,301£4,476£6,745 £0£3,301£4,476£6,745 £58,200 £2,967£4,144£6,413 £0£2,967£4,144£6,413 £60,000£2,967£3,955£6,224 £0£2,967£3,955£6,224 £62,143 £2,967£3,731£6,001 £0£2,967£3,731£6,001 £69,766 £2,967£3,731£5,205 £0£2,967£3,731£5,205 What could the package of support look like? HomeAwayLondonHomeAway London Industry Accreditations across our courses

12 NHS University scholarships/bursaries Worthy cause funding Always check Other funding sources £14 million Science & Innovation Park (2014)

13 Two loans added together- one overall repayment amount Repayments start in the April following your graduation Earning more than £21,000 per annum Deducted directly from salary Repaying the loans Award-winning Great Central Warehouse Library

14 Repayment amount is 9% of your gross salary, once earning above £21,000 At a starting salary of £25,000 – the repayment will be £360/year or £30/month (9% of £4,000) Lump sum payments can be made Interest accrued from day one of the loan What you pay The largest TV Studios in the East Midlands located in the University’s School of Media

15 Applications for the main loans and grants made online or on paper via Student Finance England SFE deadline 31 st May Individual university bursaries and scholarships- check with institution Other sources- check on how to apply via the institution or funding website How to apply New £11.5 million School of Art & Design

16 Scotland Wales Northern Ireland Outside the UK Studying elsewhere Our students graduate in Lincoln’s historic castle and medieval cathedral

17 Graduates do not repay grants, bursaries and scholarships Graduates do repay their loans Repayments start once graduate earns over £21,000 Working abroad Remember High Student Satisfaction

18 Student loans do not appear on credit files 2012 structure will now be considered in mortgage applications Debt collectors will not chase you for money Further useful information Accountancy & Finance ranked 1 st in UK for the last 5 years

19 Student Finance England Customer Support Line: 0300 100 0607 Resources: Top marks from the Quality Assurance Agency

20 Open days 2014 Saturday 18 October Saturday 15 November Wednesday 3 December All of our open days can be booked online and we run informal tours regularly Thank you for listening | Any questions? 113 Sports Teams & Societies, inc. Gliding, American Football, Rowing and the University Orchestra Contact Us: 01522 886644 /UniversityOfLincoln @UniLincoln

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