Lancaster University Year Abroad 2013/2014 Student Funding Service Colleges and Student Life Student Based Services Diane Shipperd Student Funding Adviser

 How to apply for Government Support (UK/EU)  Student Loans and Grants  Travel Grants  Tuition Fees  Applying for discretionary University Support (whilst abroad)  General Advice/Budgeting Student Funding - Year Abroad

Non-Income Assessed 12-13? Generally, no need to re-apply for funding Automatically assessed Notification of Entitlement letter at end February Log into Student Finance Online -Check 13/14 application has been approved -Make any amendments if necessary Applying for Government Support

Income Assessed 12-13? Apply on-line as a continuing student. Deadline date for applications 28 th June Tick the box where you will spend most of the year – e.g. Study Abroad Receive Notification of Entitlement letter Home Address/Online (View Correspondence) Print, sign and return the Student Declaration to SLC Applying for Government Support (Cont…..)

Student Registry will: - re-register you automatically - inform Student Finance of early start date First Student Loan/Grant payment made in early August Re-apply for Student Funding from January 2014 (on-line) Applying for Government Support (Cont…)

Maintenance Loan Rates Student Loans/Grants Main Rate (100%) Non-Income Assessed (72%) Income Assessed (28%) Overseas£5,895£4,244£1,651 Elsewhere£4950£3564£1386

Maintenance Grant and Loan – full year overseas Max amount of main maintenance loan will be reduced by £0.50 for every £1 of maintenance grant received. Household income above £50,778 – contribution of £1 for each additional £5 of household income is applied until 72% of full maintenance loan remains (£60,000) Max amount of main maintenance loan will be reduced by £0.50 for every £1 of maintenance grant received. Household income above £50,778 – contribution of £1 for each additional £5 of household income is applied until 72% of full maintenance loan remains (£60,000) Student Loan/Grants (Cont…..) IncomeGrantLoan £25,000£3,080£4,355 £30,000£2,050£4,870 £34,264£1,170£5,310 £40,000£780£5,505 £45,000£439£5,675 £50,706£50£5,870 £50,778£0£5,895

Income assessed and non-repayable Up to 3 return flights Necessary daily travel costs Mandatory medical tests (where condition of entry) Medical insurance Disregard of £303 (you pay first £303 of expenses) All are subject to being “reasonable” You must supply receipts and details of travel Reimbursements paid into your bank account Travel Grant

Study abroad for full year – pay 50% tuition fees to Lancaster and nothing to your host University Home/EU Study Placement (pre 2012)£1,725 Home/EU Study Placement (from 2012)£4,500 Overseas Study Placement (Band 1)£6,320 Overseas Study Placement (Band 2)£7,340 Overseas Study Placement (Band 3)£7,925 Tuition Fees

Study abroad for 1 term only – liable for full fees Tuition invoices set to home address in summer vacation Self Funding students can pay online and in two instalments (October 2013 and January 2014) at Any questions about tuition fees should be directed to and not the Study Abroad Office Tuition Fees (Cont…..)

LU Awards – assessed and awarded automatically, no need to apply Bursary - £1,000, based on household income of less £25,000 (entry in 2012) or £34,000 (entry in 2011) Consent to share LU Scholarship – based on A-levels or equivalent grades on entry – continue to receive if academic progression met. Lancaster Award Regulations: Lancaster University Awards

Access to Learning Fund You must have taken out full loan entitlement Your income will be means tested (not your parents) Funding Notification Letter, Rent Contract and 3 months bank statements Form available at:- Discretionary Funding Support

Things to consider: Larger loan, but it has to last longer. Do you have to pay for obligatory health insurance through your host institution? Does your host institution allow payment of rent by instalments? Do you have to pay a deposit? Keep all your detailed receipts – send to Student Finance. Re-imbursement of costs will not be made without receipts. General Advice/Budgeting

Insurance/Medical Matters Covers all your needs Student Finance usually cover up to 40% Arrange vaccinations Dental checks Eye tests Prescriptions Obligatory health insurance General Advice/Budgeting (Cont...)

Money ATM bank charges On-line Banking Exchange Rates Larger loan General Advice/Budgeting (Cont…)

Rates of Exchange (as at ) Argentina1 GBP = 7.75 Argentinian pesos (ARS) Australia1 GBP = 1.6 Australian dollars (AUD) Canada 1 GBP = 1.56 Canadian dollars (CAD) Europe1 GBP = 1.15 European Euros (EUR) Hong Kong1 GBP = Hong Kong dollars (HKD) Mexico1 GBP = Mexican peso (MXD) New Zealand1 GBP = 1.89 New Zealand dollars (NZD) Singapore1 GBP = 1.91 Singapore dollars (SDG) USA 1 GBP = 1.54 US dollars (USD) General Advice/Budgeting (Cont…)

USEFUL WEBSITES Student Finance England Student Finance Northern Ireland Student Finance Wales Student Awards Agency for Scotland

Currency converter LU - tuition fees Budgets LU – Access to Learning Fund LU – Bursaries and Scholarships awards LU – funding database General LU information for outgoing students

Information, Advice and Guidance Website: Helpline:01524 (5)94848 The Base: Student Funding Service