1. Financing Higher Education 2011 Entry

2. Which is the most expensive place to get a degree? Oxford University Imperial College, London Exeter University Plymouth University North Devon College

3. Fees £Universities are charging £3375 per year tuition fees. £Students do not have to pay course fees ‘up front’. £Students can defer paying the fees by taking a fee loan.

4. What do students spend their money on?

5. Living Costs POTENTIAL EXPENDITURE - First Year: Average Costs (2009/10) Accommodation Books & Equipment Food and Drink Clubs, Societies & Sports Clothing TV licence Travel home Toiletries and haircuts Telephone and Internet Presents Social Life Housing/Damage Deposit for next year TOTAL

6. Living Costs POTENTIAL EXPENDITURE - First Year: Average Costs (2009/10) Accommodation (av. £144 p/wk – 31 wks, catered) 4464 Books & Equipment300 Food and Drink (lunch etc at £25 p/wk – 31 wks)775 Clubs, Societies & Sports190 Clothing200 TV licence150 Travel home 150 Toiletries and haircuts125 Telephone and Internet (approx £85 internet in halls)300 Presents 150 Social Life (approx. £35 per week) 1085 Housing/Damage Deposit for next year320 TOTAL £8,209

7. Student Support Institutional – Bursaries Statutory: If fees are £3375 per year students on full maintenance grants will receive £338 per year. Discretionary: Many Universities will be offering larger bursaries. These may be a mix of cash and ‘in kind’ payments and will have different criteria. UK Access to Exeter Bursary - 2011 Household IncomeExeter Bursary Up to £25,000£1,500 £25,001 to £35,000£750

8. Student Support Maintenance Grants Means tested on parental income Up to £2,906 for all new students from lower income households (under £25k full, under £50k partial). Household incomeAmount of grant for 2011/2012 Up to £25,000Full grant - £2,906 £30,000£1,906 £34,000£1,106 £40,000£711 £45,000£381 £50,020£50 More than £50,020No grant

9. Maintenance Loans Means tested on parental income – have to be repaid All students can have 72% of the maximum. Remaining 28% depends on household income and grant For 2011/12 first year students: Students don’t have to take out the full student loan. Living at homeLiving away from home outside London Living away from home in London Maximum Student Loan for Maintenance £3,838£4,950 £6,928 72% not income assessed £2,763£3,564£4,988 Remainder (around 28%) - income assessed £1,075£1,386£1,940

10. Repaying loans Fee loan and maintenance loan When? - After leaving course & earning £15,000+ pa. How? - Deductions directly from wages, like tax and NI How much? - 9% of earnings over £15,000 pa. (£22.50 per month @ £18,000) (£75 per month @ £25,000) £Can pay more - will be able to take 2 year payment ‘holiday’ £If earnings fall, contributions fall £Outstanding debts written off after 25 years

11. How to make up the difference Income - £1500 bursary + £2906 grant + £3497 loan Outgoings - £8205 Vacation and term time earnings Extra parental contribution Bank overdraft Scholarships/trusts/charities Additional support is also available for students with additional needs – e.g. students with disabilities or dependents

12. How and when to apply. How – www.direct.gov.uk/studentfinancewww.direct.gov.uk/studentfinance download or print off form

13. Any questions?