Funding your studies 2018

A quick disclaimer….. The information and figures from Student Finance are based on what we know at the moment. Some arrangements have been confirmed for this year only. Fee support for EU students will continue for 2018 entry

How much does it cost? Tuition fees Maintenance costs Up to £9,250 per year Expected to be confirmed shortly Covers all essential course costs Maintenance costs - All other costs 30/11/2018 © The University of Sheffield

Support from the government This support will be the same whichever university a student attends 30/11/2018 © The University of Sheffield

Tuition fee loans Students receive a loan to pay their tuition fees every year of their course Don’t pay anything upfront Award is not linked to household income 30/11/2018 © The University of Sheffield

Maintenance loans Household income Living at home Living away from home £25,000 or less £7,097 £8,430 £30,000 £6,499 £7,825 £35,000 £5,901 £7,220 £40,000 £5,303 £6,615 £45,000 £4,705 £6,009 £50,000 £4,107 £5,404 £55,000 £3,509 £4,799 £62,187 or above £3,124 £3,928 (2017 entry) 30/11/2018 © The University of Sheffield

Applying for support from Student Finance 30/11/2018 © The University of Sheffield

Student loans Repayments start: Tuition fee loan Maintenance loan Student loan Repayments start: - The April after students leave university and - when they are earning over £25,000 Anything unpaid after 30 years is written off Repayment threshold increased from £21,000 to £25,000 TBC Autumn 2018

Student loans Interest Studying Left university and earning less than £25,000 Left university and earning £25,000-£45,000 Left university and earning £45,000+ Inflation + 3% Inflation Inflation + 0%–3% Income thresholds increased from £21,000 and £41,000. TBC Autumn 2018

Student loans – an example Repayments are calculated as 9% of anything earned above £25,000. For example a salary of £26,000; graduates repay 9% of £1,000 - £90 per year or £7.50 per month. Repayments are based on what students earn – not what they owe Your salary You pay back 9% of Monthly Pay (Net.) Monthly repayments £30,000 £5,000 £1,973 £37.50 £40,000 £15,000 £2,540 £112.50 £50,000 £25,000 £3,065 £187.50

Support from the University This support is specific to the University of Sheffield for 2018 None of the awards have to be repaid 30/11/2018 © The University of Sheffield

Sheffield Bursary Scheme Household income Household income Bursary per year £0 – 25,000 £1,500 £25,001 – 30,000 £1,000 £30,001 – 40,000 £500 30/11/2018 © The University of Sheffield

Sheffield Bursary Scheme Students with a household income below £25,000 who live in one of the country’s most deprived areas get an extra £500 Students who live in a low participation area in Sheffield and the surrounding region and achieve A,B,B or higher at A-Level (or equivalent) regardless of household income get an extra £500 Students can get either of these awards but not both 30/11/2018 © The University of Sheffield

Enhanced bursaries All care leavers*, student carers & students estranged from their families* can apply for an enhanced bursary of £4,500 *Care leavers and estranged students must be under 25 on the first day of their course. 30/11/2018 © The University of Sheffield

Scholarships Scholarship challenge Lloyds Scholars Alumni Scholarships Win free accommodation for your first year Scholarship challenge Lloyds Scholars Alumni Scholarships HSBC Scholarship Sports Scholarships Global Scholars Household incomes below £25,000 High achieving students in financial need (£1,200 per year for 1st 3 years) For care leavers For students who have competed in their sport at national level Must achieve A*,A,A (or equivalent) or income be £40,000 or less 30/11/2018 © The University of Sheffield

How much will you get? www.sheffield.ac.uk/funding 30/11/2018 © The University of Sheffield

Budgeting www.shef.ac.uk/moneytools 30/11/2018 © The University of Sheffield

Part time work Invaluable experience and confidence. The Student Jobshop can help students find part-time work during term time, vacations and for placement years. The University is a regular employer of students too. 30/11/2018 © The University of Sheffield

Thank you for listening 30/11/2018 © The University of Sheffield