Transcript Residual household income?

Finance Information for
2015-16 Entry
Student Funding
Advice Team
To help our students now and throughout their
studies to succeed
We have specialist advisers that can help you
with:
• Financial advice and guidance
• Benefits information
• Employment and consumer advice
• You do not pay tuition fees up front
Key facts
• You need to be earning at least £21,000 a year
before you start paying back
• Repayments are from as little as £4.00 a month
• Graduate employment rates remain high (92.7%
within six months of graduation)
• Government figures are subject to parliamentary
approval
Residual household income? This is effectively the
household income BEFORE tax and AFTER any
pension contributions or allowances for dependant
children.
How much will it
cost?
 Annual Tuition Fees for 2015-16
York St John University tuition fees are £9,000

Accommodation - approx. £4,000-£7,300
Pay termly, in advance, by cheque or direct debit

Living Expenses - approx. £4,000 (but varies!)
Food , books, course costs, clothes, laundry,
entertainment, travel home
Tuition Fees
Financial help is
available

Do not have to pay up front or whilst studying

Tuition Fee Loan available from the Student Loans
Company

Loan also available for eligible part-time, first-degree
students who complete minimum of 25% of full time
course load

Some exemptions to fees– NHS courses e.g.
Physiotherapy and Occupational Therapy
Living Cost Loan
Financial help is
available
 Available for all eligible full-time students
 All students are eligible for 65% of the loan, further
35% is means-tested on residual household income
 In 2014/15 the maximum annual loan available if you
live with your parents will be £4,393, if you live away
from home £5,341.
 Paid in three instalments at the beginning of each term
Living Cost Grant for full-time students:
Financial help is
available

The amount of the grant is dependant on residual
household income

Available for eligible full-time students

This help does not have to be repaid

Maximum grant available of £3,387 if your residual
household income below £25,000

Partial grant available if residual household income is
up to £42,620
Apply via www.gov.uk/studentfinance
NB: Figures above are for 2014-15
Bursaries
Financial help
available from York
St John
YSJ Bursary
Paid by YSJ to UK/EU students starting in September
2015, enrolled on a programme charging the maximum
fee of £9,000.
Residual family
income
YSJ Bursary
2015-16
<£25,000
£1,000
You don’t need to apply for this bursary, because you will
be automatically assessed. The bursary is paid in two
instalments.
Tuition Fee for NHS Courses
NHS Funding
• Students on NHS funded course do not pay tuition
fees. The NHS meet the full cost of tuition fees.
NHS Grant
• Available for all eligible full-time NHS students
• Non means-tested
• Maximum amount available £1,000
Once you have a place on an NHS funded course you
will need to register for an account and then make your
application via the website below:
https://myaccount.nhsbsa.nhs.uk/Pages/Login.aspx
NHS Bursary
Available for eligible full-time NHS students
NHS Funding
Non-repayable
Maximum amount available £5,460 (2014-15 figures)
The amount of bursary you can get depends on:
 Where you live
 Where you study
NHS Funding
 Whether you live with your parents
 The number of weeks you study each year
 Household income
Paid over 12 months
Living Cost Loan
Financial help is
available

Available for all eligible full-time NHS students

In 2014/15 the maximum annual loan available
£2,324 (final year loan rate £1,811)

Apply on a online application via
www.gov.uk/studentfinance

Paid in three instalments at the beginning of each
term
Salary
Amount of salary
from which 9%
will be deducted
Monthly
repayment
£21,500
£500
£4.00
£25,000
£4,000
£30.00
£30,000
£9,000
£67.50
£35,000
£14,000
£105.00
£40,000
£19,000
£142.50
£45,000
£24,000
£180.00
£50,000
£29,000
£217.50
£55,000
£34,000
£255.00
£60,000
£39,000
£292.50
Repayment of
loans
Interest Rates
During study until
entering repayment
Income:
Below £21,000
Income Between:
£21,000 - £41,000
Income:
Above £41,000
Retail Price Index (RPI)
+3%
RPI Only
RPI plus some amount
between 0% and 3%
Retail Price Index (RPI)
+3%
Don’t struggle
alone… speak up!
There are many points of contact throughout the university
if you are having money worries, but start with the Student
Funding Advice Team!
Many universities have hardship funds available in
extreme circumstances.
Visit the money saving expert website for specific advice
and tips for students, including:
• Council tax discounts
• Student bank accounts
• Overpayment of tax
• TV licence refunds
• Student insurance
www.moneysavingexpert.com/students
Student Funding Advice Team
01904 876939
Contacts
[email protected]
Useful websites:
• www.yorksj.ac.uk
• www.gov.uk/studentfinance
• www.nhsbsa.nhs.uk
• www.studentloanrepayment.co.uk
• www.studentfinanceengland.co.uk
Have a great day!