2015 & Beyond Sarah McLeod Student Services Agenda Tuition - - PowerPoint PPT Presentation

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2015 & Beyond Sarah McLeod Student Services Agenda Tuition - - PowerPoint PPT Presentation

Aug 16, 2023 295 likes •547 views

Student Funding 2015 & Beyond Sarah McLeod Student Services Agenda Tuition fees Non-NHS money for living costs Grants, loans, bursaries, fee waivers etc... NHS funding Student loan repayments How this works How

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Student Funding 2015 & Beyond

Sarah McLeod Student Services

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Agenda

  • Tuition fees
  • Non-NHS money for living costs

– Grants, loans, bursaries, fee waivers etc...

  • NHS funding
  • Student loan repayments

– How this works – How much you could be expected to pay

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University Tuition Fees

  • Universities can charge up to £9,000 each year for their

full time undergraduate degree courses

  • Tuition fee rates are available on university websites

All students can take a tuition fee loan each year so everyone can afford to study

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Money for living costs

  • Maintenance grant up to £3,387 (means tested)
  • you don’t pay this back
  • full grant up to £25,000 – partial grant up to £42,620
  • Maintenance loan
  • partially means tested
  • £3,731+ (living away from parental home rate)
  • £2,967+ (living in parental home rate)
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10k 20k 30k 40k 50k 60k 70k

Household Income

£1,000 £2,000 £3,000 £4,000 £5,000 £6,000 £7,000 Student Funding 2015

Living away from home outside London

All students should have access to around £5,740

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20k £1,000 £2,000 £3,000 £4,000 £5,000 £6,000 £7,000 10k 30k 40k 50k 60k 70k

Student Funding 2015 Living away from home outside London £25K Maintenance Loan (£4,047) Maintenance Grant (£3,387)

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20k £1,000 £2,000 £3,000 £4,000 £5,000 £6,000 £7,000 10k 30k 40k 50k 60k 70k Student Funding 2015

Living away from home outside London C42.6K

Maintenance Grant Maintenance Loan

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20k £1,000 £2,000 £3,000 £4,000 £5,000 £6,000 £7,000 10k 30k 40k 50k 60k 70k

Student Funding 2015 Parental Contribution

Maintenance Loan Maintenance Grant

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Additional Government Funding

  • Disabled Students Allowance (DSA’s)

– Specialist equipment allowance – Non-medical helpers allowance – General disabled students’ allowance – Extra travel costs

  • Contact Disability Services

– 01642 342277 or disability@tees.ac.uk

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Money for living costs

  • Scholarship Schemes

– Every university has a different scheme and details are available on university websites. Each university has their own eligibility criteria:

  • Who qualifies – grades, household income etc
  • What you can get – bursary, fee waiver etc
  • How to apply
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Teesside University Support

Teesside Extra Scholarship 2014/15

  • Cash bursary up to £2,500
  • Predicted and/or achieve at least BBB at A’level (or

equivalent)

  • Full eligibility criteria apply, please see the website

for further details

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How to apply

Apply to Student Finance England: www.sfengland.slc.co.uk

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NHS Funding 2014/15

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NHS Funding 2014/15

  • NHS funded students

– doctor or dentist (eligible for an NHS Bursary during the latter stages of their pre-registration training – chiropodist (including podiatrist), dietician, occupational therapist,

  • rthoptist, physiotherapist, prosthetist, and orthotist,

radiographer, audiologist or a speech and language therapist – dental hygienist or dental therapist – nurse, midwife or operating department practitioner (degree course)

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NHS funding

Non-repayable funding

  • Not means tested

– Payment of Fees – NHS Grant of £1,000

  • Means tested

– NHS Bursary up to £4,443 for 45+ weeks living away from parents – Up to £3,373 living with parents

www.nhsbsa.nhs.uk

Repayable funding

  • Not means tested

– Apply to Student Finance England on PN1 form – £2,324 (living away from home – £1,744 (living at home) – You pay it back like everyone else

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How to apply

  • Apply online at www.nhsbsa.nhs.uk
  • Supplementary paper forms; DSA, Childcare
  • Re-apply yearly
  • Paid by equal monthly instalment until following

August

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Loan repayments

  • Student loans are very different to commercial credit
  • Interest rate linked to inflation plus up to 3%
  • How much you pay depends on how much you earn
  • Nothing to pay until you have left education and have

an income above £21,000 per year

  • Affordable monthly repayments
  • Outstanding debt written-off after 30 years
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10k 15k 18k 20k 30k

£28,000pa

9% of £7,000 Percentage of income £630 (2.2%) Monthly repayments £52.50 Weekly repayments £12.11

Student loan repayments

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Loan repayment example

  • Graduate earning £30,000pa gross

– Monthly gross income £2,500 – Pension (6%) £150 – Tax £303 – National insurance £192 – Net income £1,855 – Student loan repayment £67.50 – INCOME £1,787.50

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Summary

  • You don’t have to pay anything until after you have left

education – everyone can afford to study

  • All full-time students can apply for a maintenance loan to

help with living costs

  • Students from households earning less than £42,620 will

also receive a non-repayable maintenance grant

  • Repayments are based on what you earn, not on what

you owe

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Useful websites

  • Government services website

– www.gov.uk/student-finance – www.sfengland.slc.co.uk – More information about funding

  • University websites

– Information about courses, bursaries, fee waivers etc. – www.tees.ac.uk

  • Money Saving Expert

– www.moneysavingexpert.com

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ANY QUESTIONS?