Transcript Student Finance

Student Finance
2012/2013
Contents
• Full Time Higher Education
- Eligibility Criteria
- Financial Support Available
- Exceptions
• Part Time Higher Education
• How to apply
• What happens next?
• Repayments
• Further Education Awards
Eligibility Criteria
There are three main conditions you must meet:
• Be personally eligible – have lived in the UK and Islands for at
least 3 years before the start of your course and living in
Northern Ireland on the first day of the academic year in which
your course begins
• Must attend an approved college – a University or College in
the UK or ROI that is maintained out of public funds, CAFRE,
certain private colleges
• Must attend an approved course – degree, HNC, HND, Dip HE,
Foundation degree
Financial support available
Tuition fee loan
• All eligible students can take out a loan for the amount
charged by the institution (NI institutions £3465 per year,
remainder of the UK max £9000 per year)
• Amount charged depends on your country of residence, not
on a passport
• Fees paid direct to your institution by SLC
• No income assessment involved
• Pay back only when you are earning more than £15,795 per
year
Financial support available
Maintenance Loan
• Max £6,780 if living away from parents’ home and studying in
London
• Max £4,840 if living away from parents’ home and studying
outside London
• Max £3,750 if living at home
• Maintenance loan is means-tested
The loan is reduced if you receive a Maintenance Grant or
Special Support Grant
Financial support available
Maintenance Grant/Special Support Grant
• Non-repayable grant for students from low income
households (< £41,065)
• Full grant where household income < £19,203
• Worth up to £3,475 a year – depending on household income
• SSG is available to students who are eligible for income
support or housing benefit (benefits not reduced)
• Not available for students studying in ROI
Financial support available
Studying in the ROI
• No Tuition Fees. Flat rate charge of €2250 paid to institution
for you by local SFni office.
• If required to pay €2250 on enrolment day, ensure PN1
application is returned to local SFni office to enable this fee
to be refunded by your institution.
• Eligible for a means tested bursary of up to £2000 where
income < £23,605 and maintenance loan.
• Transfer or repeat students will be charged full tuition fees
(not payable by SFni)
Financial support available
Extra Help with Living Expenses
• Parents’ Learning Allowance
• Childcare Grant
• Adult Dependants’ Grant
See Application form or contact Student Finance for further
details
Financial support available
Disabled Students’ Allowance
A range of help available which is not means tested on
household income
• Specialist equipment allowance of up to £5,266 for the whole
course
• Non-medical helpers’ allowance of up to £20,938 per year
• General allowance of up to £1,759 per year
• Extra travel costs as a result of the disability
Contact the Disability Adviser at your institution for an
assessment of what support you will require.
Financial support available
Help from your Institution
Access Bursary – NI institutions
•Extra (non-repayable) grant for students who are in receipt of
full (or in some cases partial) Maintenance Grant or Special
Support Grant
•No separate application involved – eligibility determined
through your Student Finance application
•Each institution offers different amounts of support
Similar support throughout the UK – contact institution for
details.
Assessment process
Student Finance NI assesses household income based on:
Your gross taxable income (excluding any earnings during
institution term-time and holidays);
PLUS Gross taxable income of parent(s) / partners / stepparents;
LESS Deductions for payments into pension funds and £1,153 for
each other dependent child in the household
This does not apply to Independent students
Living cost support 2012/13
Income
Maintenance Lodging Rate Maint Grant
of Loan
Plus Loan
Grant
£19,203
£3,475
£2,953
£6,428
£25,000
£2,201
£3,289
£5,490
£35,000
£689
£4,151
£4,840
£41,065
£50
£4,790
£4,840
£53,035
£0
£3,630
£3,630
Exceptions
• Health Professional degrees in NI – income assessed bursary of
£2355 (2011/12 rate), reduced loan of £2370 and Tuition fees
paid in full
• Health Professional degrees elsewhere in UK – reduced loan
and NHS bursary
• Nursing degrees / diplomas in NI, Scotland and Wales – not
eligible for any funding from SFni
• Nursing degrees in England – reduced loan and NHS bursary.
Diplomas in England – no support
• Social Work degrees in NI – additional funding from DHSSPS of
non-means tested grant and contribution towards work based
learning expenses
Part-time HE Courses
HE part time courses must be at least one year’s duration
and at least 50% of a full time course.
Support for eligible students will consist of:
• A means tested Tuition fee grant of up to £1,230
• A means tested grant of up to £265
• Disabled Students’ Allowance
How to apply
• Paper application forms available from school or your local
Student Finance NI office or download an application form at
www.studentfinanceni.co.uk
• Complete form fully and return to your local Student Finance
NI office
• Pay correct postage (1st class not sufficient)
• Apply as soon as possible and check your application online
• EU Students should apply to the EU Team in Darlington
How to apply
Information required
You must provide the following information with your
application form –
• Original UK Birth certificate or valid Passport. A Birth
certificate must be accompanied by an identity confirmation
form
• National Insurance Number
• Your bank account details
• Details of your income and that of your household
What happens next?
Application acknowledged and you receive Customer Reference Number
(EMA students retain same number)
↓
SFni determines whether you are eligible for support and amount due
↓
SLC sends notification of how much support you will receive and when
↓
Take your notification to University at enrolment stage
↓
Your University confirms enrolment
↓
SLC pays your support each term by BACS
What you must do
Tell SFni of any change in your circumstances as this may affect
your entitlement e.g.
• Name / marital status
• Address (home / lodging)
• Transfer / Suspension / Withdrawal from course / college.
• Absence
• Drop in parents’ income
Things you need to know
• If you withdraw from your course during the year you may not be
eligible for a Tuition fee loan, but some institutions may still charge
you fees which you will have to pay
• If you are on a placement / abroad as part of your course you may
not receive any support other than a reduced loan (check first with
SFni)
• If you follow an HND/Dip HE course and move on to year 1 of a
degree course you will not receive a Tuition fee loan or a
maintenance grant for year 1 of the degree
• If you change course/repeat a year more than once you may have to
self-fund part of your course.
• If you receive a grant and your entitlement is reassessed to a smaller
grant/no grant at all – the SLC will demand repayment from you
immediately
• You must reapply each year to get support
Repayments
• You only repay Student Loans (Fees and maintenance) once
you have left your course and are earning over £15,795 a year.
• Repayments are based on what is earned, e.g. earnings at
£25,000 pay back £69 a month
• Current interest rate is 1.5%
• You do not repay any grants received unless you withdraw
from your course or a re-assessment is required
How to contact us
By telephone on: 0845 6000 662
By post or personal visit:
Student Finance NI
3 Charlemont Place
The Mall
Armagh, BT61 9AX
Visit our web site at:
www.studentfinanceni.co.uk
Further Education Awards
• For certain lower level courses
• Payment of approved Tuition fees
• A grant (maximum £2092)
Closing Dates:
• Full time
- 31 August 2012
• Part time - 28 September 2012
• Guaranteed funding where fully completed applications are received
by 30 June.
Apply to: Student Finance NI
Further Education Awards Section
1 Hospital Road
Omagh
Telephone: 028 8225 4546
Email: [email protected]
Further Guidance
Student Finance NI has endeavoured to detail every
aspect of the application process and possible funding
available to students entering Further/ Higher Education.
If you have any questions that are not covered in this
presentation please read the ‘Guide to Financial support
booklet’, check out the web-site or contact the Customer
Services Office on 0845 6000 662 for further assistance.