1. Higher Education - Finance Megan Ette, Connexions Bucks

2. Higher Education - Finance How much is it going to cost? What financial support is available? What do I have to repay? How do I apply?

3. Tuition Fees & Loans From September 2012 universities and other institutions providing higher education will be charging up to £9,000 a year for their courses Tuition fees do not have to be paid ‘up front’ at the start of the course The Tuition Fee Loan is paid directly to your university or college by Student Loan company

4. Loan for courses in September 2014 Living in parent’s home Up to £4,418 Study outside of London & not living with parents Up to £5,555 Studying in London and not living with parents Up to £7,751 Living and studying abroad for at least one academic term Up to £6,600 Tuition Loans

5. Living Costs – Maintenance Loan Helps with living costs e.g. food, accommodation, books and travel The amount you can borrow depends on where you live and study and your household income Paid in 3 instalments during the academic year

6. Maintenance Grant If household income is less than: £25,000 = £3,387 £30,000 = £2,441 £35,000 = £1,494 £40,000 = £547 £42,620 = £50 Over £42,620 = no grant If you get a Maintenance Grant your Maintenance loan will be reduced

7. Additional Support – Bursaries & Scholarships You may be able to get a bursary, scholarship or award directly from your university. The National Scholarship Programme helps students with a family income of £25,000 Could be related to your academic studies Could be related to an interest e.g. sport ot music Commercial organisations

8. Other Sources of Finance NHS Bursaries for courses such as Speech & Language Therapy, Physiotherapy, Nursing & Midwifery Disabled Student Allowance

9. Repayments Tuition LoanYes Maintenance LoanYes Maintenance GrantNo BursariesNo ScholarshipsNo

10. Repayments If income falls below £21,000 your repayments stop e.g. career break or period of unemployment You repay 9% of your income Repayments are dependent on income, not how much you have borrowed Any outstanding balance is written off after 30 years

11. Income each year before tax Monthly salary before tax Approximate monthly repayment Up to £21,000Below £1,750£0 £25,000£2,083£30.00 £30,000£2,500£67.50 £40,000£3,333£142.50 £50,000£4,166£217.50 £60,000£5,000£292.50 £70,000£5,833£367.50 Repayments

12. What interest will I pay on the loan? While you are studying = Retail Price Index (RPI) plus 3% If you finish your course before April 2016 = RPI plus 3% until the April after you leave your course and then RPI From April 2016 – Interest is based on income £21,000 or less = RPI £21,000 to £41,000 = RPI plus up to 3%, depending on income £41,001 and over = RPI plus 3%

13. How do I Apply? Apply on-line at www.gov.uk/studentfinance Link on UCAS Apply early – you don’t need a confirmed offer It will take 6-8 weeks to process your application Applications can be managed on-line