Funding for Higher Education Jeremy Field & Nerina Poole

Status of Jersey Students Jersey students are classified as “Islands” students – not UK, not EU and not International

Student Finance: Eligibility Academic: 2 full A levels Residential: Ordinarily resident in the Island for 5 years before the start of the course or Entitled Status and resident in the Island for the last 12 months Equivalent funding for anywhere in the world for an equivalent courseee

Student Finance Tuition Fees Living Costs Total Cost Departmental contribution Parental contribution Student contribution Student Finance

Tuition Fees (2015/16) Fees range between £7500 and £ Students are asked to contribute £1500 per year to the above figures whichever course they choose to study A loan of this amount is available through NatWest

Living Costs Including: Accommodation Travel Food Social/Sport Laundry Books Estimated cost £9,500 - £13,000 The maximum that the States would give towards this is £5500 Living Costs

Total Cost Around £18,500 - £22,000 per academic year The contribution that the States of Jersey makes towards this cost is dependent upon the level of Gross Income for the household in the previous financial year

Total Cost

Definition of “Household” The definition is in line with other Jersey legislation which says: A person who normally occupies the same dwelling as his or her principal residence as another person is treated as being a member of the same household as that other person if – (a) they are married to each other or are in a marriage-like relationship (whether or not both persons are of different sexes); (b) they live together as part of a family unit

The basic rule is that the higher the level of gross income, the less the States of Jersey will contribute. Example: Student taking English, total cost is approximately £18,500 - £22,000 Income(£)States Contribution(£) LivingTuitionTotal 26, , , Key Levels of Gross Income

Currently the maximum you can receive from Student Finance is £14,500 per academic year. From numerous websites such as NSU and Kent University it shows that the average cost of sending a student to University for 2013/14 was £21,999. Which means you need to find the extra £7,499 The amount that you will receive from Student Finance is based on the household Income. What will it cost me to send my Daughter to University ?

Where can we get the shortfall from ? Local Bursaries. University Scholarships – 34% of English Domiciled F/T students received a bursary from their Institute. Student savings – Stats show a surprising number of students that do have considerable savings. Parents Family members

The average student spends as much on course costs as on food. Student rents in the South are twice as high as the North. The average student spends £10,000 a year while they’re at university. 31% of students would have chosen a different course. 1 in 3 students have never budgeted.

Part-time jobs were the second biggest source of income, with 16% of students taking on part-time work. 18% rely on their parents to meet the shortfall in funding. 12% of students were using their overdraft to fund the difference. 11% relied on grants. 3% used credit cards. Worryingly, 1% used pay day loan companies, which are notorious for charging extortionate interest rates.

2015 Cambridge and Imperial College treat Jersey students as International Students. Jersey has decided that from the academic year 2015/16 it will cap its contribution to tuition fees, for all subjects other than clinical such as medicine, to £9000 p.a. If a student decides to study where fees are higher then the family may be liable to pay any additional tuition cost but ……

2015 continued … it will be possible to apply for a bursary to meet this extra cost.

Other changes from 2014 onwards Households with assets, other than their main residence, with a net value > £500,000 will be treated as “maximum contributors” College Fees at Oxford and Cambridge will be means tested Any bursary gained by a student will be ignored in assessing any award

Would it be cheaper to go abroad ? European fees do tend to be cheaper. However living expenses can be a lot higher depending where you study. American Fees do seem to be higher, however their fees structure is slightly different. We have evidence of very generous scholarships for some students. Especially talented sports men or women. Australia and New Zealand. Costs are slightly lower, but flights are higher and living costs are higher.

Failure to complete the course Re-payment of one term’s fees No funding for a repeat period of study

Timetable March 2015 (end of)Application forms submitted June 2015 (end of)Income forms sent out and returned via Tax August 2015 (mid)Results and destinations notified to Student Finance August/September 2015 Assessments sent out December 2015/January 2016 Income forms for the following year Timetable

Useful websites

REASONS TO APPLY To ensure that your Student is Classified as a Jersey student and not international Access to Jersey Student Loan Enables regular communication from Careers Jersey – vacancies, internships, bursaries and other information Student Credits.

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