Sub title or year The Imperial College Bursary. Who does this affect? Home Undergraduate Students ‘Home’ refers to your fee status (typically that you.

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Presentation transcript:

Sub title or year The Imperial College Bursary

Who does this affect? Home Undergraduate Students ‘Home’ refers to your fee status (typically that you live in the UK) WITH a household income of <£60k

Where does our money come from? Students (that are eligible and apply) get a Maintenance Loan and potentially a Bursary from the Student Loans Company Imperial College provides an additional, independent Bursary on top of the Student Loans Company Loan and Bursary

The Imperial Bursary and the Law For Imperial to charge £9k a year, 35% of the ‘extra income’ (the difference between £9k and £6k) must be put into ‘access activities’ As ‘access activities’ College currently gives 32% of the extra income in Bursaries 3% of extra income into Outreach

Student Financial Support The Student Loans Company provides students with a Loan + Bursary package, which is means tested This is nothing to do with College, but is an important ‘base level’ of funding

Student Financial Support Imperial College London also offer an additional Bursary to eligible students College is proposing a set of options that could change this for the 1 st years starting in the 2016/17 academic year In the current system, the 2016/17 bursary distribution would be:

The Proposals There are 8 options that College are looking at The two extremes of this are Option A and Option B Option A is the current system Option B is a system where everyone (<£60k) gets the same

Proposed Student Support: Option A The total financial support package that a Student starting in 2016/17 will receive with option A (the current system) will be:

Proposed Student Support: Option B Everyone in the <£60k bracket gets the same amount of money The Imperial Bursary will be £4,100 per student

Proposed Student Support There are 6 other models in between A & B Remember: As ‘access activities’ College currently gives 32% of the extra income in Bursaries 3% of extra income into Outreach An additional part of the range of options is modifying the amount spent on Outreach: From 3% (£570k) To 5% (£950k) Or 10% (£1.9M)

Further information College Registry advertises the cost of living as: £11,522 for 39 weeks or £15,202 for 52 weeks One assumption is that students in the middle & top brackets have access to other sources of funding There are as many students in the <£25k band as there are in the £25k-£60k band