Transcript Document

Fees & Funding
for 2015-16
Tuition Fees – Amount charged to study on the course.
Generally apply to all undergraduate degrees with some
exceptions for health courses. Paid per year of study
Key Words
Student loans – Taken out to cover tuition fees and living
costs. Need to be paid back gradually once earning a
certain amount
Grants – Money from the government which doesn’t have
to be paid back. Amount received generally dependent
upon income
Living costs – Food, accommodation, bills, course
costs…
Interest – The fee charged to you for the use of borrowed
money
Means-test – assessment of residual household income
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 costs - 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, firstdegree students who complete minimum of 25% of
full time course load
 Some exemptions to fees– NHS courses e.g.
Physiotherapy and Occupational Therapy
York St John Bursary
Financial help
available from York
St John
Paid by YSJ to UK/EU students starting in September
2015, enrolled on a programme charging the maximum
fee of £9,000.
• Non-repayable
• Don’t have to apply as it is an automated assessment
• Paid in 2 instalments
The Bursary will be awarded to qualifying students with a
residual household income as below:
Residual family
income
YSJ Bursary
2015-16
<£25,000
£1,000
Financial help is
available from
the government
Living Cost Loan (Maintenance Loan)

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 2015/16 the maximum annual loan available if
you live with your parents will be £4,565, if you live
away from home £5,740

Paid in three instalments at the beginning of each
term (Sep/Jan/Apr)

This loan is repayable
Living Cost Grant (Maintenance Grant)
Financial help is
available from
the government

The amount of the grant is dependant on residual
household income

Available for eligible full-time students

Paid in three instalments at the beginning of each term
(Sep/Jan/Apr)

This help does not have to be repaid
Residual household
income
Maintenance Grant
(annual amount)
Below £25,000
£3,387
£25,000 - £42,620
Partial grant
Above £42,620
£0
Apply for all funding via www.gov.uk
Extra help if you're leaving local
authority care
Care Leavers
Extra funding from your Local Authority, please visit
www.gov.uk for more information.
Care Leaver & Foyer Allowance
• Available to students who have been in care or a Foyer
Foundation for at least 3 months within
3 previous years before study
• The awards will be granted on an individual
basis
Salary
Amount of salary
from which 9%
will be deducted
Monthly
repayment
< £21,000
£0
£0
£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
www.studentloanrepayment.co.uk
Interest Rates
During study until
entering repayment
Retail Price Index (RPI)
+3%
Income:
Below £21,000
RPI Only
Income Between:
£21,000 - £41,000
Income:
Above £41,000
RPI plus some amount
between 0% and 3%
Retail Price Index (RPI)
+3%
www.studentloanrepayment.co.uk
• Will undoubtedly be your biggest spend
Accommodation
• Be realistic
• Do you NEED an en-suite?
•What is included?
• Remember your TV licence!
• Sharing your flat = sharing the cost
• Visit the accommodation
• Check contracts from private landlords
•Parking – additional permit charge?
Saving
Money
• Don't be a supermarket snob!
• Do not use local convenience stores / corners shops
very often
• Be sensible when it comes to special offers
• Don’t go shopping after a big night out or when you
are hungry!
• Sign up for a loyalty / reward card
• Visit local produce markets – fresh and cheap! And
you may be able to haggle!
• Visit supermarkets about an hour before they close
• Get a bag for life!
• Plan ahead what you need for the week
• Ask parents for help
Saving
money
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Do you really need to bring a car to University?
If it is off-road for most of the year – SORN it!
Don’t use taxi’s unnecessarily
Use public transport
Student Rail cards = 1/3 off all fares!
Buy weekly / monthly bus passes
Use park and ride services
Buy a bicycle!
Saving
Money
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Return your library books on time
Don’t eat in the canteen / dining hall everyday
Be careful of what you print
Buy second hand books from amazon where possible
Check out noticeboards / forums for graduates selling
off items especially books and other useful resources
• Look out for part time job opportunities around campus
that fit well around your studies
• Keep an eye out for events and opportunities within the
university that could be a cheap way to socialise or
could lead to employment
• Spend time making a budget planner.
Top Tips
• Accommodation will be your biggest spend. So
be realistic. Do you NEED an en-suite?
• Open a Student Bank Account. Check for
charges. Many Banks offer an Interest Free
Overdraft
• Watch out for discounts. Use your NUS Card
• Part-Time Jobs:
o Transfer Employment
o Access the Careers and Employability Team
• Work and Save Now
There are many points of contact throughout the
university if you are having money worries, but start with
the Student Funding Advice Team.
Don’t struggle
alone… speak up!
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
http://www.moneysavingexpert.com/students/student-guide
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!