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Www.practitioners.slc.co.uk STUDENT FINANCE 2014/15 Andy Shenton Regional Advisor – South West.

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Presentation on theme: "Www.practitioners.slc.co.uk STUDENT FINANCE 2014/15 Andy Shenton Regional Advisor – South West."— Presentation transcript:

1 www.practitioners.slc.co.uk STUDENT FINANCE 2014/15 Andy Shenton Regional Advisor – South West

2 APPLYING KEY MESSAGES Jan 20 New students can apply for student finance from 20 th January 2014 May 30 The application deadline for new students is May 30 th 2014 APPLY NOW!

3 Apply online at gov.uk/studentfinance as soon as possible to make sure student finance is in place for the start of their course They do not need a confirmed place at university or college to apply APPLYING KEY MESSAGES

4 www.gov.uk/studentfinance GOV.UK FOR MORE INFORMATION & TO APPLY

5 NEW LOOK ‘MY ACCOUNT’ MAKING IT EASIER TO NAVIGATE & UNDERSTAND

6 NEW LOOK ‘MY ACCOUNT’ MAKING IT EASIER TO NAVIGATE & UNDERSTAND Full online demo will be available from launch See every screen a student and sponsor sees http://slc-apps.co.uk/appdemo/

7 Bursaries & Scholarships Tuition Fee Loan Maintenance (Living Cost) Support Additional Support The Student Finance Package THE STUDENT FINANCE PACKAGE SUPPORT AVAILABLE TO STUDENTS INCLUDES:

8 Universities and colleges* can charge new full-time students up to £9,000 per year (£6,750 part-time) for tuition fees Eligible students won’t have to pay any tuition fees up front A non-means tested Tuition Fee Loan is available to cover the fee charged by the university or college *Publicly funded institutions with an approved Offa Access Agreement - www.offa.org.uk/access-agreementswww.offa.org.uk/access-agreements TUITION FEES & LOANS OVERVIEW

9 Where Students Live & StudyMaximum Loan Available Parental Home Live at home £4,418 Elsewhere Live away from home and study outside of London £5,555 London Live away from home and study in London £7,751 Overseas Study overseas as part of a UK course £6,600 MAINTENANCE LOAN 2014/15 MAXIMUM RATES Additional loan is available for each extra week of study for students attending their course beyond 30 weeks

10 Full-Year Student* 65% Non Means Tested 35% Means Tested Maximum Loan Parental Home£2,871£1,547£4,418 Elsewhere£3,610£1,945£5,555 London£5,038£2,713£7,751 Overseas£4,290£2,310£6,600 MAINTENANCE LOAN MEANS TESTING *Slightly lower rates of support apply to final year students

11 A Maintenance Grant will only be available to some students: The Maintenance Grant does not have to be repaid If/how much grant a student can get depends entirely on their household income (100% means tested) MAINTENANCE SUPPORT Household Income: Up to £25,000 Household Income: Up to £42,620 Full Grant of £3,387 Partial Grant MAINTENANCE GRANT OVERVIEW

12 Household Income Maintenance Grant Maintenance Loan Total £25,000 & under£3,387£3,862£7,249 £30,000£2,441£4,335£6,776 £35,000£1,494£4,808£6,302 £40,000£547£5,282£5,829 £42,620£50£5,530£5,580 £42,875£0£5,555 £50,000£0£4,836 £62,132 & over£0£3,610 COMBINED MAINTENANCE SUPPORT LIVING AWAY FROM HOME, OUTSIDE LONDON Students can get a quick estimate of their student finance entitlement using the calculator on gov.uk/studentfinancegov.uk/studentfinance

13 Bursaries: Linked to personal circumstances and often household income Awards can include fee waivers or cash Scholarships: Can be linked to academic results or outstanding ability in an area such as sport, music or art Can be subject specific and are often limited in numbers BURSARIES & SCHOLARSHIPS OVERVIEW Students should check university websites early and ask at open days for information on support available and how to apply

14 Extra money or support may be available to students if they: Have children or adults dependent on them Have a disability, long-term health condition, mental-health condition or specific learning difficulty Are studying an NHS or Social Work course including: nursing, midwifery, physiotherapy, chiropody, dietetics, radiography, occupational therapy, the later stages of medicine and dentistry For further information and applications students should visit: www.nhsbsa.nhs.uk/students ADDITIONAL SUPPORT OVERVIEW

15 DSA Rates 2014/15: Allowance Part-Time Maximum Support Full-Time Maximum Support Frequency of Payment Non-medical personal helper £15,543£20,725Annual Specialist equipment£5,212 Duration of Course Other disability-related expenditure £1,305£1,741Annual Disability related travel No Limit – Reasonable spending can be claimed For both full-time and part-time postgraduate students there is a single allowance of up to £10,362 a year ADDITIONAL SUPPORT DISABLED STUDENTS’ ALLOWANCE

16 Childcare Grant: Based on 85% of actual registered/approved childcare costs up to maximum of: £150.23 per week for one child £257.55 per week for two or more children Dependants grants are income related. Universities may offer extra support to students with childcare/caring responsibilities ADDITIONAL SUPPORT STUDENTS WITH DEPENDANTS’

17 Parents’ Learning Allowance: Help with course-related costs for students with dependent children. Amount received will be between £50 and £1,523 Dependants grants are income related. Universities may offer extra support to students with childcare/caring responsibilities ADDITIONAL SUPPORT STUDENTS WITH DEPENDANTS’

18 Adult Dependants’ Grant: Normally for the student’s partner. Can be for another adult who is financially dependent on the student where the adult’s net income is not more than £3,796 p.a. Maximum grant available: £2,668 Dependants grants are income related. Universities may offer extra support to students with childcare/caring responsibilities ADDITIONAL SUPPORT STUDENTS WITH DEPENDANTS’

19 CUSTOMER RESOURCES

20 Series of informative guides, introducing the main areas of student finance to students and their parents, including: Financial Support for Students Disabled Students’ Allowances How Students are Assessed and Paid Student Loan Terms and Conditions SFE FULL & QUICK-START GUIDES STUDENT GUIDES NOW AVAILABLE FOR 2014/15

21 STUDENT GUIDES QUICK GUIDE SERIES 2014/15 Helpful fold-out guides highlighting essential student finance information: How and When to Apply Student Loan Repayments DSA’s and Dependants Grants Student Finance Explained for Parents of Students

22 www.thestudentroom.co.uk/studentfinance THE STUDENT ROOM FOR FURTHER INFORMATION & RESOURCES

23 MONEY MATTERS eMAG 1 st EDITION AVAILABLE NOW New resource giving students information on student finance - What’s available and how to get it, budgeting, applications and repayment Content includes interviews with students at different stages of their university and college lives Links to interactive features, including SFE ‘A Minute For’ videos

24 YOU TUBE SFE VIDEO CHANNEL www.youtube.com/SFEFILM

25 www.facebook.com/SFEngland www.twitter.com/sf_england SOCIAL MEDIA FOLLOW SFE FOR THE LATEST NEWS

26 PRACTITIONER RESOURCES

27 DEDICATED WEBSITE www.practitioners.slc.co.uk

28 Access and download our wide range of IAG resources, including: Suite of Factsheets Series of Full and Quick Guides PowerPoint Presentations Policy Documents PRACTITIONER RESOURCES DEDICATED WEBSITE

29 PRACTITIONER RESOURCES FACTSHEETS Our suite of factsheets provide information on the main aspects of student finance and repayments & specialised subjects including: Applications, eligibility and evidence Finance for students at private HEIs Independent students & care Leavers Changing circumstances and withdrawals

30 CONTACT DETAILS EMAIL ADDRESSES & PHONE NUMBERS

31 QUESTIONS & COMMENTS ?


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