Financial support for new full-time undergraduates 2011/2012 Student Support

Who is this talk relevant for? English students only Full time undergraduate students starting HE in 2011 Scottish students: Northern Irish Students: Welsh students:

Overview Expenses whilst at university fall into two categories: Tuition Fees – to help meet the cost of your course Living Costs – day to day living expenses such as rent, food, course costs, travel, leisure & entertainment

Help with Tuition Fees All eligible ‘home’ (and EU students) can apply for a Tuition Fee Loan which covers the amount charged by the University No income assessment involved Tuition Fee Loan paid directly to University by Student Finance England (SFE) Students who don’t take out Tuition Fee Loan must make arrangements with the University to pay their fees From September 2011 the tuition fee for all full-time ‘home’ undergraduate students is £3,375

Help with Living Costs Help from the Government Maintenance Loan Maintenance Grant / Special Support Grant Other targeted help Help from Northumbria University Access to Learning Fund Scholarship and Bursaries Other sources of support Part-time work State benefits Bank overdraft

Student Loan for Maintenance Maintenance Loan (repayable) Available to help with living and study costs such as rent, food, books 72% of maximum loan available is guaranteed to all eligible students - not means tested Remaining 28% is means tested Students from lower income households have part of needs met by non- repayable Maintenance Grant. Amount of loan entitlement is reduced to reflect this Loan paid directly to student’s bank account by the SLC in three instalments: September, January and April.

Student Loans continued If financially assessed:- Household income = all gross taxable income From tax year 2009 /2010 However, if income has dropped more than 15% since 2009/10, can request current income assessment

Maintenance Grant Maintenance Grant (non repayable) Means tested Maximum grant of £2,906 paid where household income is £25,000 or less Partial grant paid where household income is between £25,001 and £50,020 Eligibility assessed when parents/sponsors provide evidence of income Paid in 3 instalments - September, January & April For every £1 of grant awarded, maximum loan entitlement will be reduced by £0.50

Special Support Grant Special Support Grant (non repayable) Paid if you have an underlying eligibility for means tested benefits such as Housing Benefit or Income Support Eligibility assessed by indicating eligibility for means tested benefits when applying Paid instead of Maintenance Grant Maximum grant of £2,906 awarded where household income is £25,000 or less Partial grant awarded if household income is between £25,001 and £50,020 Paid in 3 instalments - September, January & April Does not affect amount of Maintenance Loan entitlement

Targeted Help Depending on circumstances some students may be able to claim additional non-repayable allowances. All are means tested except Disabled Students’ Allowance Childcare Grant up to £ pw for one child and £255 pw for two or more children Parents’ Learning Allowance up to £1,508 payable to students with dependent children Adult Dependants’ Grant up to £2,642 where student has an adult who is financially dependant on them Disabled Students’ Allowance helps with extra costs student has resulting from disability or specific learning difficulty.

Maintenance Grant & Loan entitlement ‘living at home’ rate Household Income Assessed parental contribution Maintenance Grant Maintenance Loan (Max £3,838) Total Grant & Loan < £25,000£0£2,906£2,385£5,291 £30,000£0£1,906£2,885£4,791 £34,000£0£1,106£3,285£4,391 £40,000£0£711£3,483£4,194 £45,000£0£381£3,648£4,029 £50,020£0£50£3,813£3,863 £50,778£0 £3,838 £55,000£844£0£2,994 £56,153£1, 075£0£2,763 (72%)£2,763 £60,000£1, 075£0£2,763

Maintenance Grant & Loan entitlement - ‘elsewhere’ rate Household Income Assessed parental income Maintenance Grant Maintenance Loan (Max £4,950) Total Grant & Loan < £25,000£0£2,906£3,497£6,403 £30,000£0£1,906£3,997£5,903 £34,000£0£1,106£4,397£5,503 £40,000£0£711£4,595£5,306 £45,000£0£381£4,760£5,141 £50,020£0£50£4,925£4,975 £50,778£0 £4,950 £55,000£844£0£4,106 £57,708£1, 386£0£3,564 (72%)£3,564 £60,000£1, 386£0£3,564

Bursaries and Scholarships Full-time UK students paying £3,375 fee and starting an undergraduate programme of study in September 2011 will be eligible for the following Scholarship and Bursaries:- Bursaries A mandatory bursary of £338 per year for all students in receipt of the maximum Maintenance /Special support Grant of £2,906* with a household income of £25,000* or below per year A Northumbria Bursary of £500 per year for all students in receipt of the maximum Maintenance/Special Support Grant of £2,906* with a household income of £25,000 or below per year. Students from Northern Ireland, Wales and Scotland have lower income thresholds to achieve the full grant

Bursaries and Scholarships Scholarship In recognition of outstanding academic achievement prior to students joining Northumbria University offers:- A Northumbria Scholarship of £1000 per year for all students who achieve 360 tariff points or more from a maximum of 3 x A levels (or their equivalent) Additional qualifications which carry UCAS tariff value e.g. AS levels, Key Skills will not count In addition students must also: Be applying for their first UG degree Be assessed as ‘Home’ in terms of their fee status and be eligible for a loan for ‘living costs’ Take Northumbria as their firm choice

Additional Help From Northumbria Access to Learning Fund Government fund distributed by University to eligible students in financial hardship Application forms available at the start of academic year Help for Care Leavers (must be under 21) Help applying for financial support ‘Fast tracked’ Access to Learning Fund Support Reduced rates for accommodation Reduced price tickets for ‘Welcome Week’ Contact: Barbara Wooden (0191)

Other Sources of Support Part-time work Careers & Employment Service can help students search for part-time jobs Provides a different kind of experience A welcome source of additional funding State Benefits Certain categories of students retain eligibility to welfare benefits Includes lone parents, disabled people, pensioners & students with dependants Tax Credits, Income Support and Housing Benefit Bank Overdraft All students need a bank account to have their support paid into. Most banks offer student accounts with free overdrafts. Valuable source of financial help in emergencies However, should not be seen as additional income

Apply online from 16 TH MARCH 2011 at: Apply as early as possible – you don’t have to have a confirmed place SFE will assess your application and let you know what your entitlement is You can also use the finance calculator on the SFE website to get a good idea of what you will come out with Applying for Financial Support

All new students apply to Student Finance England Partnership between Government and Student Loans Company Launched in 2009 One application for all financial support Apply online from 16 th MARCH 2011 Deadline to guarantee September payment is 31 st MAY 2011 Student Finance England

Planned changes for 2011/12 Student Finance England plan to introduce several changes to their service over this year to make it quicker and easier for customers:- They will process the majority of new applications for means- tested finance without asking customers to send in financial evidence – they will check income via a direct link with HMRC When they do ask for financial evidence – they will only ask for copies of documents not originals Simpler information, advice and guidance for customers will be available on the DirectGov website

Interest on Student Loans The interest rate applies from 1 September to 31 August each year Interest is charged on your loan from the moment it is paid to you Interest accrues on your loan until it has been repaid in full Current rate of interest is 1.5% ( ) but this is subject to change

Repayment of Student Loans Student loans are only repayable from the April after student has finished/left their course and is earning over £15,000 before tax Repayments are calculated on 9% of earnings over £15,000 For example: a graduate earning £16,000 would repay £7.50 per month a graduate earning £20,000 would repay £37.50 per month

Once you’ve applied Once the application is submitted, you will receive unique ID number, known as a Customer Reference Number (CRN) You will also receive a Password & Secret Answer which you must keep safe. You will need these for all correspondence with Student Finance England You can also track your application and detail s of your entitlement online with your Internet Password

When you start your course When you enrol on your course the university will confirm this with Student Finance England Student Finance England will then pay your maintenance loan and any grants into your bank account – this can take up to 72 hours You will receive 33% of your funding in September, 33% in January and 34% in April Bring some money with you when you start university in case your loan is delayed

Useful Contacts All Student Finance Information & to apply online: Student Finance England Customer Service Office: Northumbria Welfare & International Service (0191)