Transcript Document
Student Finance 2014/2015 Contents • Full-time Higher Education Eligibility Financial Support Exceptions • How to apply for support • What happens next? • Repayments • Part -time Higher Education support • Further Education support Eligibility There are three main criteria: • 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 publicly funded University or College in the UK or ROI or certain private colleges • Must attend an approved full-time course – degree, HNC, HND, Foundation degree Financial support Tuition fee loan • All eligible students can take out a loan for the amount charged by a public institution (NI institutions £3685 per year, remainder of the UK max £9000 per year) • Courses at private institutions in England, Scotland or Wales will only attract £3685 fee loan and balance of amount charged is payable by the student • Fees paid direct to your institution by SLC • No income assessment involved • Pay back when you are earning more than £16,910 per year Financial support Maintenance Loan • Max £6,780 if living in London (NMT £5085) • Max £4,840 if living away from parents’ home and studying outside London (NMT £3630) • Max £3,750 if living at home (NMT £2812) • Maintenance loan is means-tested The loan is reduced if you receive a Maintenance Grant or Special Support Grant Financial support 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) Financial support Study in the ROI • There is a student contribution charge of €2750 instead of payment of fees by Student Finance. Students must complete a SCL form (available on request) to access a student contribution loan to cover this amount • No reduction in fees if a student leaves before the end of the year • Eligible for the standard living cost support of means tested maintenance grant and loan • Transfer or repeat students may be charged full tuition fees (no loan available) Financial support 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 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 Help from your Institution Bursary – NI institutions • 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 • Parents must give consent to share on application form • Each institution offers different amounts of support Similar support throughout the UK – contact institution for details. Financial support Student Finance NI assesses household income based on: Your gross taxable income (excluding any earnings during 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 Financial support Exceptions • Health Professional degrees in NI – income assessed bursary of £2355 , reduced loan of £2370 and Tuition fees paid in full • Health Professional degrees elsewhere in UK – reduced loan and NHS bursary (amount may be small) • Nursing degrees in NI and Scotland– not eligible for any funding from SFni • Nursing degrees in England and Wales – reduced loan and NHS bursary • Nursing diploma students - not eligible for support • Social Work degrees in NI – additional funding from DHSSPS of non-means tested grant and contribution towards work based learning expenses How to apply • 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 – contact SLC for password to access on-line services) ↓ • 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) • Course transfer / Suspension / Withdrawal from course / college. • Absence / sickness • Reduction in parents’ income (Changes can be made on-line) Inform your institution of absences / sickness / proposed change of course Things you need to know • If you leave your course during the year you will still be required to pay fees. The amount depends on when you leave • If you are on a placement / abroad as part of your course you may not receive any support other than a reduced loan (ask SFni) • If you follow a full-time HND/Foundation degree 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 selffund part of your course • If you need to repeat a year due to illness you may be eligible for an extra year’s support • 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 • If there is a drop in household income your support may be reassessed Repayments Repay • You only repay Student Loans (Fees and maintenance) once you have left your course and are earning over £16,910 a year • Repayments are based on what is earned, e.g. earnings at £25,000 pay back £61 a month • Loans incur interest charges (current interest rate is 1.5%) • Balance is cancelled after 25 years • Keep • You do not repay any grants received unless you withdraw from your course or a re-assessment is required Additional information By telephone on: 0300 100 0077 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 A Guide to financial support booklet Part-time support 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 FE Awards • • • • For certain lower level courses Payment of approved Tuition fees A means-tested maintenance grant Closing Dates: Full time - 1 September 2014 Part time - 30 September 2014 • Guaranteed funding where fully completed applications are received by 30 June 2014. Apply to: Student Finance NI Further Education Awards Section 1 Hospital Road Omagh Telephone: 028 8225 4546 Email: [email protected] Further information 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 ask!