1. STUDENT FINANCE 2017/18
A PARENT’S INTRODUCTION

2. SESSION CONTENTS • Common concerns The student finance package
Student Loan repayment
Applications and information
Money management

3. COMMON CONCERNS

4. ! i i COMMON CONCERNS TUITION FEES
My child can’t afford to go to university, it’s far too expensive! i
No eligible students will have to pay their tuition
fees up-front to go to university or college.* i
Regardless of household income, eligible students
can apply for a Tuition Fee Loan & Fee Grant to help with
the cost of fees, and a Maintenance Loan to help with
their living costs.
*Eligible Welsh domiciled students studying at a publicly funded university or college

5. ! i i COMMON CONCERNS REPAYMENTS
Debt from a student loan will be unmanageable! i
Repayments don’t start until your child’s income is over £21,000 a year. They’ll then only repay 9% of their income over this threshold. i
The amount they repay will only increase with their earnings as repayments are based on their income, not how much they borrowed.

6. THE STUDENT FINANCE PACKAGE 2017/18

7. THE STUDENT FINANCE PACKAGE
SUPPORT AVAILABLE TO STUDENTS INCLUDES:
Bursaries, scholarships
Tuition fee support
Maintenance (living cost) support
Additional support
The
Student Finance
Package
The financial support package for students may change in 2018/19 following an independent review on higher education funding and student finance. You can find out more and keep up-to-date with the latest information by visiting the Welsh Government website (
Figures in this section may change, subject to 2017/18 policy approval

8. THE STUDENT FINANCE PACKAGE 2017/18
Tuition fees

9. TUITION FEES
OVERVIEW
Currently capped at £9,000 per year for universities and colleges in Wales.
Universities and colleges in England who meet certain conditions can charge up to £9,250.
The tuition fee will be decided by the university or college, including if it charges different amounts for different courses.
The average tuition fee for new students in 2015 was about £8,703.
Students at private universities or colleges offering courses designated by the Welsh Government will be able to borrow up to £6,165* towards tuition costs.
*Students will have to self-fund any additional fee charged.
Universities and colleges in England with an Access Agreement from the Office for Fair Access (OFFA) and meet the expectations of the Teaching Excellence Framework will be able to charge up to £9,250 a year for a full-time course. All universities in Wales and those in England who don’t meet these requirements will be able to charge up to £9,000 a year for a full-time course.
1. Personal eligibility
Normally you must be living in Wales on the first day of the first academic year of your
course and either:
• have been living in the UK for the three years immediately before this date and have ‘settled status’ in the UK (meaning you can live permanently in the UK without the Home Office placing any restrictions on how long you can stay); or
• meet the requirements of one of the other UK residency categories listed in the appropriate Regulations (for example, you are a refugee living in the UK).
To qualify for a Maintenance Loan you need to be under 60 when you start your course. There’s no upper age limit on grants and Tuition Fee Loans.
2. Course eligibility
The course you plan to study must be of a certain type (a ‘designated course’ such as a
BSc, HND, PGCE) leading to a recognised higher-education qualification.

10. TUITION FEES IN WALES
You can get a Tuition Fee Loan to cover the first £4,046 of your fees. (£4296 if Fees are £9250)
Tuition Fee Grants cover the difference between the available Tuition Fee Loan and the tuition fee charged by your university
For courses with £9,000 tuition fees you would receive a maximum Tuition Fee Grant of £4,954
Tuition Fee Loans and Tuition Fee Grants are paid direct to your university or college.
Tuition Fee Loans are repayable, but only when you’ve left university or college and your income is over £21,000 a year.

11. OTHER COURSES NHS COURSES NHS support
Students training for eligible courses may be able to get a bursary from the NHS. A bursary is a yearly payment to help with living costs and tuition fees. It’s paid each month and doesn’t have to be paid back.
More detailed information is available at:
Full-time students on NHS degrees can also apply for a fixed grant of £1,000 per year.
SFW support
Full-time NHS students can also apply to Student Finance Wales for a reduced rate Maintenance Loan which is not dependent on income.

12. OTHER COURSES NHS COURSES AT UNIVERSITIES IN ENGLAND
Students studying medicine, dentistry or any other allied health profession course at a university or college in England from 2017/18 won’t be able to apply for funding from the NHS.
They will be able to apply to Student Finance Wales for help with their living costs and tuition fees in the same way as students on other courses.

13. THE STUDENT FINANCE PACKAGE 2017/18
MAINTENANCE SUPPORT

14. MAINTENANCE SUPPORT
Maintenance support is available to help with living costs a student
will have while in higher education.
Two main types of support are available: Maintenance Loan and Welsh Government Learning Grant.
The Maintenance Loan is repayable and all eligible students are
entitled to receive some funding.
The amount of loan available will depend on where a student lives
and studies.
Maintenance support is paid directly into the student’s bank account each term.

15. MAINTENANCE SUPPORT Household income: Full grant of £5,161
WELSH GOVERNMENT LEARNING GRANT
The Welsh Government Learning Grant doesn’t have to be repaid.
How much grant a student can get depends on their household
income.
Household income thresholds for 2017/18:
Household income:
up to £18,370
up to £50,020
Full grant of £5,161
Partial grant

16. Q A ? ? HOW MUCH? – ACCOMMODATION
What’s the average weekly cost of student accommodation? A
£ per week* ?
Lowest
£45 pw ?
Highest
£415pw
*Approximate figures from The Guardian
based on university-owned accommodation

17. OTHER COSTS?

18. Welsh Gov Learning Grant
MAINTENANCE SUPPORT
COMBINED SUPPORT:
Student living away from home, outside London 2017/18
Household income £
Welsh Gov Learning Grant
Maintenance Loan
Total
£18,370 & under
£5,161
£4,342
£9,503
£20,000
£4,715
£4,565
£9,280
£25,000
£3,347
£5,249
£8,596
£26,500
£2,936
£5,454
£8,390
£30,000
£2,099
£5,873
£7,972
£34,000
£1,142
£6,351
£7,493
£40,000
£734
£6,555
£7,289
£45,000
£393
£6,726
£7,119
£50,020
£50
£6,897
£6,947
£50,753 £0
£6,922
£59,408 (+)
£5,191 (+)
£5,191
If their household income is less than £59,408, parent(s) or partners should provide details of their household income to ensure the student gets the full amount they’re entitled too. If their household income is over £59,408 providing these details will not increase the amount of student finance the student gets.
The amount of loan for which students are eligible will be reduced by 50p for every £1 of grant to which they are entitled, up to a maximum of £2,580.
For income between £18,371 and £26,500, the grant is reduced by £1 for every complete £3.653 by which the income exceeds £18,370. For income between £26,501 and £34,000, the grant is reduced by £1 for every complete £4.180 by which the income exceeds £26,500. For income between £34,001 and £50,020, the grant is reduced by £1 for every complete £ by which the income exceeds £34,000.
A student whose income is £50,020 will be eligible for the minimum grant of £50. A student whose income exceeds £50,020 will not be eligible for any grant.
Where a student’s income exceeds £50,753, the amount of loan to which they are entitled is reduced by £1 for every complete £5 by which the income exceeds £50,753 until 75% of the full Maintenance Loan remains. This point is indicated by (+) in the table above.

19. BURSARIES AND SCHOLARSHIPS

20. BURSARIES AND SCHOLARSHIPS
OVERVIEW
Many universities and colleges offer financial support to their students
through bursaries and scholarships.
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.

21. ADDITIONAL SUPPORT

22. ADDITIONAL SUPPORT OVERVIEW
Extra money or support may be available if the student:
has a disability, including a long-term health condition, mental-health condition or specific learning difficulty
has children or adults who depend on them

23. STUDENT LOAN REPAYMENT

24. STUDENT LOAN REPAYMENT
OVERVIEW
Students won’t make repayments until their income is over £21,000
a year gross (before tax).
Full-time students will be due to start repaying in the April after graduating/leaving their course.
Repayments will be 9% of income over £21,000 and when employed deductions will be made from their pay through the HMRC tax system.
If their income falls to £21,000 or below, repayments will stop.
Early repayments can be made at any time, but any outstanding
loan balance will be written off 30 years after entering repayment.
If a student will be working or traveling outside the UK for more than three months after they finish or leave their course they must let us know. The amount they repay will be based on their income and the country they are living/working in. You can find out more about repaying from overseas at

25. ! STUDENT LOAN REPAYMENT THE FIGURES £21,000 £0 £25,000 £4,000 £30
Income each year before tax
Income from which 9% will be deducted
Approximate monthly repayment
£21,000 £0
£25,000
£4,000
£30
£30,000
£9,000
£67
£35,000
£14,000
£105
£40,000
£19,000
£142
£45,000
£24,000
£180
£50,000
£29,000
£217
£60,000
£39,000
£292 !
Any outstanding loan balance will be cleared 30 years after
entering repayment.

26. Retail Price Index plus 3%
STUDENT LOAN REPAYMENTS
THE INTEREST
Interest on the student’s loan will depend on their income and circumstances:
During study until
entering repayment
Interest Rate:
Retail Price Index plus 3%
Income:
Under £21,000
Interest Rate:
RPI Only
Income:
£21,000 to £41,000
Interest Rate:
RPI plus up to 3%
You can find out more about repayment at
Income:
Over £41,000
Interest Rate:
RPI plus 3%

27. APPLICATIONS & INFORMATION

28. APPLICATION INFORMATION
KEY MESSAGES FOR STUDENTS
Apply online through as soon as possible once the application service opens to make sure their student finance is in place for the start of their studies.
Make a note of their account log-in details & keep them safe (if students have had EMA/ALG continue to use that customer reference number).
Students do not need a confirmed place at university or college
to apply for student finance.
They can change most details online before starting their course.
Agree to share information from their application, this helps apply
for many bursaries and some scholarships.

29. APPLICATION INFORMATION
COMPLETING AN APPLICATION
Before starting the application, students should have the following to hand:
• Passport - SLC can check identity using valid UK passport details . They will need to send their Original Birth Certificate if they don’t have a Passport.
• university and course details
• bank account details and National Insurance number
If you will be supporting a student’s application you will need to set up your own account on and provide information including:
• National Insurance number, household income, details of other
child dependents
The easiest way for a student to prove their identity is to give us their valid UK passport number online when they apply. We can then check and confirm their identity without them having to actually send us their passport. If a student doesn’t have a valid UK passport they’ll need to send us their original UK *birth or *adoption certificate, along with a Birth/Adoption Certificate Declaration Form.
This is available from studentfinancewales.co.uk
If the student is a non-UK passport holder, they’ll need to send us their *valid non-UK passport and any original *supporting letters from the UK Border Agency explaining the student’s residency status.
*These must be original documents, not photocopies. We’ll return them once we’ve confirmed their identity and checked they’re eligible.
If there is more than one dependant child in the same household, a standard allowance of £1,130 is deducted from the household income for each of these additional dependants. If there is more than one student from the same household in higher education (depending on household income) a further reduction may be possible through applying split contributions (expected parental contribution to a student’s maintenance costs).
For example, in a household with two students and a household contribution of £500, this would be divided between the two students. Where students in the same household fall under different student finance regulations, their household contribution would be calculated according to the regulations which apply to their individual circumstances. The household contribution is then divided by the number of students in that household.
A full chart of expected contributions based on household income can be found in the policy documents on studentfinancewales.co.uk/practitioners
If you can’t submit income details online, you can provide your details on paper.

30. SUPPORTING AN APPLICATION
HOUSEHOLD INCOME
If you’ll be supporting a student’s application for means-tested student
finance SFW will need to see details of your household (taxable earned
and unearned) income and National Insurance number.
Earned income includes:
wages, salaries, tips, and other taxable employee pay
long-term disability benefits received prior to minimum retirement age
net earnings from self-employment
Unearned income includes:
interest from savings (only the annual summary is required)
benefits and pensions
rent from property or a room
For most applications, SLC verify income from your National Insurance number with no need to send any documents, unless we ask for them.

31. SUPPORTING AN APPLICATION
TAX YEAR USED FOR ASSESSMENTS
Please give financial information for the tax year prior to when the student
will start in higher education.
For students starting in Sept 2017 please submit financial information
for the 2015/16 tax year.
Supporting an application – drop in income:
If your income has dropped by 15% or more in the current tax year SFW
can reassess an application so a student may receive additional support.
Submitting a Current Year Income form:
Support the student's application for finance as normal.
Complete the (CYI) form with estimates of this financial year's details.
Provide evidence to support estimates at the end of the current tax year.

32. APPLICATION INFORMATION
STUDENTFINANCEWALES.CO.UK
First point of reference for student finance information, check entitlement using the student finance calculator and the site for applications.

33. SOCIAL MEDIA www.facebook.com/SFWales www.twitter.com/sf_wales
FOR THE LATEST SFW NEWS
Follow SFW for the latest news on student finance, ask questions on our feeds.

34. MONEY MANAGEMENT

35. MONEY MANAGEMENT HINTS AND TIPS FOR STUDENTS
Before starting in higher education, students should think about the costs
they are likely to face and how to manage their money, tips include:
Plan a budget – and (try to) stick to it!
Ask questions and get any advice they need.
Check out student bank accounts and NUS Extra cards.
Try to avoid taking credit cards, store cards or pay day loans!!
If they need financial support and advice once they are at university or college, staff there will be able to help.

36. WHAT NEXT? Research - studentfinancewales.co.uk
- guides and quick guides
Apply
- online
- on time
Payment
- loans and grants paid into bank account shortly after starting course
- fees paid directly to the university or college
Repayment
- start paying back their loans when they have left university and earn over £21,000

37. CONTACT STUDENT FINANCE WALES
For further Information on student finance and applications call us on:
Customer helpline:
There are no silly questions when it comes
to student finance, so if you’re unsure, ask!

38. QUESTIONS?