Transcript Slide 1

Student Finance
Tim Pilkington
Higher Education Adviser
Introduction
What university will cost
Financial support available
How to apply
UEA Square
Tuition Fees
Cost of courses - £6,000 - £9,000 / year
Fees don’t have to be paid before or during the course!
Fee loan available to full time students, paid directly to the university
£21,000 repayment threshold
Repayments linked to what you earn not what you owe
Apply through Student Finance England
NHS courses
Nursing; Midwifery; Physiotherapy; Occupational Therapy; Speech and
Language Therapy – pay NO FEES
Non-means tested Grant from NHS - £1,000
Means tested Bursary from NHS
Reduced rate Living Cost Loan
Medicine and Dentistry courses – final year funded by NHS
Social Work
www.nhsbsa.nhs.uk/students
Living Cost Loan
Living costs – books, accommodation
65% of loan for everyone (35% is means tested
Paid in 3 installments (direct to student)
Repayable (£21,000)
Apply through Student Finance England
Parental home
£4,375
London
£7,675
Elsewhere
£5,500
Living Cost Grant
Non-repayable grant (Living cost grant):
Household income
Grant available
< £25,000
£3,250
£25,000 - £42,611
Part of £3,250
> £42,611
No grant
Apply for grant through Student Finance England
University support: Bursaries
Bursaries – dependent on household income
Non-repayable
Criteria
Support
Duration
Household income less than
£16,000
£3,000
per annum for up to four years* of
undergraduate study.
Household income £16,001 to
£20,000
£2,000
per annum for up to four years* of
undergraduate study.
Household income £20,001 to
£25,000
£1,000
per annum for up to four years* of
undergraduate study.
Science Foundation Year household
income less than £42,611
£4,500
Foundation Year only.
Care Leaver
£3,000
per annum for up to four years* of
undergraduate study.
* This includes any support that may be given for a Foundation Year.
University support: Scholarships
Based on academic achievement
Non-repayable
Scholarship
Criteria
Value
Entry Scholarship
Awarded to students who achieve
AAA at A level (excluding General
Studies) or equivalent.
£1,500 one off payment
Excellence Award
Excellent academic achievement
£1,000 one off payment.
during undergraduate study.
Students are considered for award at
the end of each academic year
based on their end of year results.
University support: Scholarships
Subject specific scholarships
Subject specific Scholarships
Criteria
American studies - Arthur Miller scholarship Top A level grades & who study abroad
Value
£1000 paid at end of 2nd yr
Chemistry scholarship £2000
Choose UEA as firm (prior to clearing), A in
A2 chemistry plus AB
£2000 One off payment
Chemistry scholarship £1000
Choose UEA as firm (prior to clearing), A in
A2 chemistry plus BB
£1000 One off payment
Panasonic scholarship
AAA - Science subjects only
£1000 / pa (1 award)
Grade A achieved at A2 level or equivalent
including IB HL 6 or BTEC Distinction
£500 per A grade, one off payment
Undergraduate Student Scholarships Norwich Business School
What you may be eligible for
Household income
Living Cost Grant
Living Cost Loan
Total
£25,000 or less
£3,250
£3,875
£7,125
£30,000
£2,341
£4,330
£6,671
£35,000
£1,432
£4,784
£6,216
£40,000
£523
£5,239
£5,762
£45,000
£0
£5,288
£5,288
£50,000
£0
£4,788
£4,788
£55,000
£0
£4,288
£4,288
£60,000
£0
£3,788
£3,788
Over £62,500
£0
£3,575
£3,575
How to apply – Student Finance England
Tuition Fee Loan, Living Cost Loan, Living Cost Grant
Apply online – www.gov.uk/student-finance
Apply in the Spring of the year you go to university
Need NI number, bank details, income & course information
Deadline to submit
Fewer screens – list of eliminating questions
Enhanced student finance calculator
How to apply
Making repayments
An example
A student finishes their degree in July 2016
Their salary is £25,000, so they earn £4,000 in excess of £21,000
Their repayments are calculated at £30 per month (9% of £4,000/12)
From April 2017 £30 is deducted from the graduates’ wages via PAYE
Interest rates:
Salary
Interest rate
Less than £21,000
RPI (Retail Price Index)
Between £21,000 - £41,000
Between RPI and RPI plus 3%
Over £41,000
RPI plus 3%
During course you will be charged RPI plus 3%
Repayment system
Income each year before
tax
Approximate monthly repayment
Previous – 2011 system
Current – 2012 system
£15,000
£0
£0
£16,000
£8
£0
£18,000
£23
£0
£21,000
£45
£0
£24,000
£68
£23
£27,000
£90
£45
£30,000
£113
£68
£33,000
£135
£90
£36,000
£158
£113
£40,000
£188
£143
More information
www.gov.uk/studentfinance
www.nhsbsa.nhs.uk/students
www.uea.ac.uk/finance
UEA accommodation
Additional income
Part time work – over 40% have term time jobs
Holiday work – 90% of students work in holidays
University job shops
Work related to course/career
UEA bar
Any questions?
OPEN DAYS 2013:
22 June
5 July
14 September
www.uea.ac.uk
www.facebook.com/studyatuea
3rd in the Times Higher Education Student Experience Survey 2011
World top 150, European top 100, UK top 20 (Guardian League Table 2012)