1. Money Matters for Undergraduates
Starting in 2014/15

2. Contents Fees Financial Support Budgeting and Cost of Living
Government
University
Other
Budgeting and Cost of Living
22/04/2019
© The University of Sheffield

3. What is included in my £9000 fee?
Contact Hours
Staff and Facilities
Support Services, Libraries, IT and University buildings
Compulsory elements of the course, e.g.:
Compulsory (non-residential) field trips
Compulsory lab-based equipment
22/04/2019
© The University of Sheffield

4. Exceptions Engineering/Science foundation year £6,000
Medicine foundation year £6,300
Placement years abroad £1350
MChem Chemistry with Study in Industry placement year £1,800
Salaried work placement in UK £1100
Non salaried work placement in UK £0
Landscape and Architecture in practice £0
22/04/2019
© The University of Sheffield

5. Loans for Tuition Fees You do not need to pay for your fees upfront
Not linked to household income
You do not need to pay for your fees upfront
Government loans are available for all students up to £9,000 a year
This applies to ‘eligible’ students
Main eligibility is that they have lived in the UK for 3 years prior to the start of their course, or hold refugee status.
AND that they haven't studied for a degree before.
22/04/2019
© The University of Sheffield

6. Key Points – Money for tuition fees
Fees are maximum £9000 each year but there are exceptions and for some students fees can vary during their course.
All UK/EU students can take a loan from the government to pay for their fees.

7. Loans for Living Costs Linked to household income
All students are eligible for a minimum loan (£3,610)
Depending on your household income you may be able to borrow up to £5,555 a year
This applies to ‘eligible’ students
Main eligibility is that they have lived in the UK for 3 years prior to the start of their course, or hold refugee status.
AND that they haven't studied for a degree before.
22/04/2019
© The University of Sheffield

8. Grants for living costs
Linked to household income
Government grants are available up to £3,387 a year
They do not need to be repaid, i.e. ‘free money’
Means tested on household incomes up to £42,620
Other grants are available as well, e.g.:
Disabled Students Allowance
Childcare Grant
Parents Learning Allowance
This applies to ‘eligible’ students
Main eligibility is that they have lived in the UK for 3 years prior to the start of their course, or hold refugee status.
AND that they haven't studied for a degree before.
Disabled Students Allowance:
Non Means Tested allowance to cover additional study related costs incurred due to a disability.
Available to full time and part time students.
Includes learning disabilities (Dyslexia, Dyspraxia, Dyscalculia, etc) as well as physical disabilities.
DSA may fund the following support as recommended by an Assessment of Need (this assessment can be carried out by the University) - A specialist equipment allowance: may help purchase or rent any items of equipment you may need. - Non medical helpers allowance: may help pay for any support such as interpreters, note takers. - General allowance: may help with minor costs such as photocopying or Braille.
22/04/2019
© The University of Sheffield

9. Applying for Loans and Grants
*This is a new web address.*
Applications open in January 2013
We would advise students to apply as soon as they are able, they do not have to have decided on their Firm/Insurance choice before applying.

10. Key Points – Money for living costs
All English students can apply for a government loan of £3610 to help with living costs.
Depending on your household income you may be eligible for a loan up to £5555
Depending on your household income you may be eligible for a grant of up to £3387

11. Young Carers / Care Leavers
University Bursary
Linked to household income
The Bursary is more money, but from the University
You get it every year and it doesn’t have to be repaid
Household income
Bursary each year
£18,000 or under
£1,400
£18,001 to £25,000
£1,100
£25,001 to £30,000
£750
£30,001 to £35,000
£600
£35,001 to £42,000
£500
Young Carers / Care Leavers
£1,600
There is no application process and we will asses students automatically
22/04/2019
© The University of Sheffield

12. University Fee Waivers
Linked to household income and postcode*
If your household income is under £25,000 a year, and you live in an economically deprived area, you’ll receive a full or partial fee waiver for your first year
If you live in one of the most deprived areas, as defined by the government, you get a full £9,000 fee waiver – you can take part of this in cash
If you live in the second tier of deprived areas, you’ll get a partial fee waiver of £6,000 – you can take part of this in cash
*Students from a Care background or who are Young Carers will receive a £9,000 fee waiver irrespective of postcode.
We will use the government’s IMD database (indicating economically deprived areas) to work out which students qualify for fee waivers
There is no application process and we will assess students automatically
The University does not have a strict definition of a Care back ground, If students have queries over what constitutes Care please direct them to Student Transitions and Support:
22/04/2019
© The University of Sheffield

13. Key Points – Money from the University
Bursaries and scholarships are payments to you. This is in addition to government loans and grants. University money does not have to be paid back.
Fee waivers mean you do not have to borrow as much money to pay for fees.

14. Scholarships at Sheffield
We offer Scholarships, Awards and Prizes based on a variety of criteria
In addition to these, we have recently launched our Sheffield Scholars Scheme.
This scheme is in addition to your Loans, Grants and Bursaries and the Scholarships are not assessed on household income
If you are among the brightest and the best and you choose us, you could benefit from ….

15. City Scholars
You get £1,500 per year for every level of your course. You don't have to pay this back.
You need To achieve ABB grades at A Level (or equivalent) or higher and to be living in a low participation area in the Sheffield City Region.
Details There are an unlimited number of awards.
You don't need to apply for this scheme, as it is automatically assessed.
Map credit: AxG
1. Sheffield
2. Rotherham
3. Barnsley
4. Doncaster
5. Chesterfield
6. NE Derbyshire
7. Bolsover
8. Bassetlaw
9. Derbyshire Dales
This is in addition to your loans, grants and bursaries each year!

16. Global Scholars
You get Your air fare to an overseas summer school, as well as tuition and accommodation whilst you are there.
You need
To achieve A*AA grades at A Level (or equivalent) or higher.
Details
There are 30 awards on offer.
The summer school will be at one of our partner institutions and you'll need to go in the summer after your first or second year.

17. Masters Scholars
You get The University will pay the standard masters fee towards your postgraduate study with us.
You need
To apply for selected undergraduate courses in Arts & Humanities or Social Science. To achieve A*AA grades at A Level (or equivalent) or higher.
Details
There are 50 awards on offer.
We'll pay the value of a standard masters course fee.
You need to start your masters straight after you finish your degree and meet the entry requirements for the course.

18. Key Points – Scholarships
Some scholarships help you do other things e.g. go abroad or do a postgraduate course. They are not always a payment to you but still add value to your student experience.

19. Estimating your entitlement
At this address is a calculator for 2013/14 starters.
This will show them a personalised breakdown of their
Living cost loan amount
Living cost grant amount
Bursary from the university
Tuition fee loan amount and or fee waiver entitlement.
22/04/2019
© The University of Sheffield

20. What will I have to live on?
Jonny assessed income £18,000
Catherine
assessed income £42,000
Joe
assessed income £63,000
Living cost loan
£3862
£5471
£3610
Living cost grant
£3387
£168 £0
Bursary
£1400
£500
City Scholarship
£1500
Fee waiver cash
£4000*
Total
£10,149 /£14,149*
£7639
* First year only
22/04/2019
© The University of Sheffield

21. Part Time Work Opportunities
Not only will a part-time job or vacation work give you extra cash, it will also give you invaluable experience and confidence.
The Student Jobshop can help you find part time work during term time, vacations and for your a year out on placement.
The University is a regular employer of students too.
886 part time vacancies were advertised at the Jobshop this year and we have the University of Sheffield “Bank” temp database.

22. Individual Funding Package
Access to Learning Funds
Tuition Fee Loan
Scholarships
& Bursaries
Living Cost Loan / Grant
Your
Individual Funding Package
Family
Wages
Your income can come for several sources throughout your course, so it is very important you manage your money wisely anticipating what is next on your student journey.
Charities
Sponsored
by Employer
22/04/2019

23. Help with Budgeting www.sheffield.ac.uk/moneytools
Your income can come for several sources so it is very important you manage your money wisely anticipating what is next on your student journey.
We have video guides from current students giving advice based on key points in the academic year.
One section is dedicated to their pre arrival year.
We also have a budget planner which pre populates with the average cost of living for students.
This can be valuable to give an indication of the average costs incurred by our students.
22/04/2019
© The University of Sheffield

24. Key Points – What money will I have?
Use the online calculator to find out:
Make sure you find out how much things cost and work out a budget before you go to university:

25. Loans – How they work Repayments start:
The April after you have finished your course
And only when you are earning over £21,000 per year
Repayments are taken directly from wages
Interest is linked with inflation
These loans do not go on your credit file
You can pay off your loan early without penalty if you wish to
The Government will write off any unpaid balance after 30 years
For reference on Interest rates:
Interest is applied at the rate of inflation + three per cent up until the April after graduation
After that, if you're earning less than £21,000 a year, interest is applied at the rate of inflation. If you're earning between £21,000 and £41,000 a year, interest is applied at somewhere between inflation and inflation + three per cent, depending on exactly how much you earn. When you’re earning over £41,000 a year, interest is applied at inflation + three per cent
However repayments are still only based on what you earn not what you borrow.
22/04/2019
© The University of Sheffield

26. Loans – An example
Your repayments are based on how much you earn, not how much you borrow.
Your repayments are 9% of any earnings over £21,000 per year
Therefore if you earn £22,000; you repay 9% of £1000
- £90 a year
Salary
Monthly Pay
(Gross)
Monthly Repayment
£22,000
£1,833 £7
£25,000
£2,083
£30
£30,000
£2,500
£68
£50,000
£4,167
£217
22/04/2019
© The University of Sheffield

27. Key Points – Repaying Loans
Your repayments start when you are earning over £21,000 a year and are linked to what you earn not what you owe.
If you haven’t paid back your loans in 30 years any outstanding balance is cancelled/written off.

28. Financial Support: 1st in the Russell Group 5th of all UK Institutions
More information:
You can crop a picture (trim slices from the side, top or bottom) by selecting on the slide the picture that you want to crop, going to the “format” menu, selecting “picture…” and in the “picture” dialog box clicking the “picture” button. This opens the crop options. The preview button allows you to see whether the crop achieves the effect you wanted. (If you have an old version of PowerPoint these controls may be located differently - refer to the PowerPoint Help menu.)
Before importing a picture into your presentation save it in a suitable format (eg jpeg) at a resolution of 72 dots per inch if possible. This resolution keeps the size of the picture file small but still displays fine on screen – particularly important if you’re using several pictures, because half a dozen taken on a five megapixel digital camera and imported at full resolution could mean that your presentation is over 20 megabytes in size. This means it will take up unnecessary disk space, will be slow to open and run on many less powerful computers – and will be too big to .
These results are from the Student Barometer. This looks at 150 institutions and draws on feedback from over 135,000 students.

29. Accommodation Value: 1st in the Russell Group
6th of all UK Institutions
More information:
You can crop a picture (trim slices from the side, top or bottom) by selecting on the slide the picture that you want to crop, going to the “format” menu, selecting “picture…” and in the “picture” dialog box clicking the “picture” button. This opens the crop options. The preview button allows you to see whether the crop achieves the effect you wanted. (If you have an old version of PowerPoint these controls may be located differently - refer to the PowerPoint Help menu.)
Before importing a picture into your presentation save it in a suitable format (eg jpeg) at a resolution of 72 dots per inch if possible. This resolution keeps the size of the picture file small but still displays fine on screen – particularly important if you’re using several pictures, because half a dozen taken on a five megapixel digital camera and imported at full resolution could mean that your presentation is over 20 megabytes in size. This means it will take up unnecessary disk space, will be slow to open and run on many less powerful computers – and will be too big to .
These results are from the Student Barometer. This looks at 150 institutions and draws on feedback from over 135,000 students.

30. Earning Money: 1st in the Russell Group 9th of all UK Institutions
More information:
You can crop a picture (trim slices from the side, top or bottom) by selecting on the slide the picture that you want to crop, going to the “format” menu, selecting “picture…” and in the “picture” dialog box clicking the “picture” button. This opens the crop options. The preview button allows you to see whether the crop achieves the effect you wanted. (If you have an old version of PowerPoint these controls may be located differently - refer to the PowerPoint Help menu.)
Before importing a picture into your presentation save it in a suitable format (eg jpeg) at a resolution of 72 dots per inch if possible. This resolution keeps the size of the picture file small but still displays fine on screen – particularly important if you’re using several pictures, because half a dozen taken on a five megapixel digital camera and imported at full resolution could mean that your presentation is over 20 megabytes in size. This means it will take up unnecessary disk space, will be slow to open and run on many less powerful computers – and will be too big to .
These results are from the Student Barometer. This looks at 150 institutions and draws on feedback from over 135,000 students.

31. Final Thoughts
Repaying loans is more like a tax than a debt; the more you earn the more you repay, the less you earn the less you repay
The University may you before you start your course inviting you to apply for scholarships, please don’t ignore these s
Most students say that the University experience is worthwhile, academically, socially and financially
And Finally… an average graduate earns £12,000 per year more than a non graduate (ONS 2011)
22/04/2019
© The University of Sheffield

32. Thank
You
For
Listening.