STUDENT FINANCE 2014/15 The Student Finance Package Student Loan Repayments Applications & Information Managing Your Money

Q What’s the maximum tuition fee universities or colleges can charge new students in 2014/15? Q How much of this will you need to pay up front before you go to uni or college? HOW MUCH DO YOU KNOW? ? Q How much do you need to earn before you start paying back your student loans?

Bursaries & Scholarships Tuition Fee Loan Maintenance (Living Cost) Support Additional Support The Student Finance Package THE STUDENT FINANCE PACKAGE SUPPORT AVAILABLE TO STUDENTS INCLUDES:

Universities and colleges* can charge new full-time students up to £9,000 per year (£6,750 part-time) for tuition fees. Situation in Scotland is different Students won’t have to pay any tuition fees up front. Tuition Fee Loan is available to cover the fee charged by the university Tuition Fee Loan doesn’t depend on household income. SFE pay any Tuition Fee Loan directly to your university or college. The loan is repayable, but only when your income is over £21,000. Still possible to pay university fees directly in order to avoid accruing any debt. TUITION FEES AND LOANS

Maintenance support is available to help with your living costs. Two main types of support are available, Maintenance Loan and Maintenance Grant. The Maintenance Loan is repayable and all eligible students are entitled to get some funding. Maintenance support is paid directly into your bank account each term in three instalments. MAINTENANCE SUPPORT Full-Year Student* 65% Non Means Tested 35% Means Tested Maximum Loan Parental Home£2,871£1,547£4,418 Elsewhere£3,610£1,945£5,555 London£5,038£2,713£7,751

The Maintenance Grant doesn’t have to be repaid. How much grant you can get depends on your household income (100% means tested). Household income thresholds for 2014/15: Household Income: Up to £25,000 Household Income: Up to £42,620 Full Grant of £3,387 Partial Grant MAINTENANCE GRANT

Examples Of Support Packages Available For Students Living Away From Home

Bursaries: linked to personal circumstances and often, household income awards can include fee waivers or cash Scholarships: can be linked to academic results or outstanding ability in an area such as sport, music or art can be subject specific and are limited in numbers National Scholarship Programme BURSARIES & SCHOLARSHIPS Check university websites and ask at open days for information on bursaries & scholarships

have a disability, long-term health condition, mental-health condition or specific learning difficulty study an NHS or Social Work course NHS courses include: nursing, midwifery, physiotherapy, speech and language therapy, dietetics, radiography, the later stages of medicine and dentistry ADDITIONAL SUPPORT EXTRA SUPPORT MAY BE AVAILABLE IF YOU: For more information on eligibility and applications for NHS support go to

You won’t make repayments until your income is over £21,000 a year gross (before tax). You’ll repay 9% of your income over £21,000 and if you’re employed deductions will be made from your pay through the HMRC tax system eg£25,000-£30 per month £35,000-£105 per month £50,000-£217 per month If your income falls to £21,000 or below your repayments will stop. Any outstanding loan balance will be written off 30 years after entering repayment. STUDENT LOAN REPAYMENTS AN OVERVIEW

It will take at least six weeks to process your application so apply early! Apply online now at gov.uk/studentfinance to make sure your student finance is in place for the start of your course. You don’t need a confirmed place at university or college to apply for student finance. Apply with your first choice, you can change details later if you need to. The application deadline for new students is STUDENT FINANCE APPLICATIONS APPLY EARLY *SFE handle over 1 million applications a year, most involve interactions with other government departments, eg HMRC 30 th May

Make a note of your account log-in details and keep them safe. Agree to share information from your application, this helps apply for many bursaries and some scholarships. Make sure any evidence and information needed to support your application is supplied first time (yours and your parent/partners’). Submit your application even if there is a delay in getting income details from your parent/sponsor so some funding (Tuition and Maintenance Loan) will be available when you start your course. If SFE ask you to send any additional evidence or documents to support your application use recorded delivery! STUDENT FINANCE APPLICATIONS GET IT RIGHT FIRST TIME

Before starting the application, you should have the following to hand: passport - SFE can check identity using valid UK passport details for most students UCAS, university and course details bank account details National Insurance (NI) number parent’s or partner’s NI number and income details For most applications, SFE verify income from your parents/partners NI numbers with no need to send any documents, unless we ask for them STUDENT FINANCE APPLICATIONS INFORMATION YOU’LL NEED TO PROVIDE

GOV.UK FOR MORE INFORMATION & TO APPLY

NEED MORE INFORMATION? i i For further Information on student finance and applications go to: For a range of helpful tools and guidance, visit: