Fastrack Funding & Student Finance Money Advice Student - - PowerPoint PPT Presentation

Money Advice

Money Advice Fastrack Funding & Student Finance

Student Services

Money Advice

Student Services

• What funding is available during Fastrack?
• How can I fund my degree?
• How do I apply for funding?

FASTRACK FUNDING

Money Advice

Edge Hill University are committed to providing support for students while studying

• n their Fastrack course.

Funding is available for students that meet the pre-defined eligibility criteria

• utlined in this presentation.

FASTRACK STUDENT SUPPORT

Student Services

Money Advice

• Have a gross income (before tax) of less than £16,845 a year or £18,845 if you have a

spouse/partner

• Be in receipt of the full amount of Child Tax Credit
• If you are not responsible for any children, be in receipt of Wo rking Tax Credit
• Be in receipt of any of the following benefits
• Income related ESA or Income based JSA
• Income support
• Housing Benefit/Local Housing Allowance
• Council Tax Reduction

ELIGIBILITY FOR FASTRACK FUNDING

Student Services

Money Advice

ELIGIBILITY FOR FASTRACK FUNDING

• Fastrack funding eligibility is broken down into four categories:

1. Single Students

• 2. Students with a partner
• 3. Single parents
• 4. Students with a partner and children

Student Services

Money Advice

Funding is available to eligible students, as a contribution towards the cost of:

• Travel to University – for days in attendance
• Childcare costs whilst on course (over and above any free childcare provision)
• Support with Hall Fees (If travel costs are more than £72 per week)

*Please note – whether you are eligible to apply will be depend on an assessment carried out of your and your partner’s income (if applicable)*

FASTRACK STUDENT SUPPORT

Student Services

Money Advice

Students within the Fastrack programme may be eligible to receive funding to stay in the university halls of residence. If your travel costs are more than £72 per week, and meet the income eligibility criteria, we may be able to cover the cost of you staying in our halls of residence. * Please contact us on 01695 657250 to discuss whether you would be likely to receive support with Hall Fees BEFORE you sign up for a place in halls.*

HALLS OF RESIDENCE

Student Services

Money Advice

HOW TO APPLY FOR FASTRACK FUNDING

The Fastrack fund application form will be uploaded onto the website. You will need to print off the form , complete and gather the required financial evidence. You can submit your application and full evidence at enrolment on Wednesday 23rd May 2018. You can also call into Money Advice for two extra Fastrack drop in sessions at the following times: Monday 4th June & Tuesday 5th June at 9am-10 am and 3pm-5pm. Lastly, if required , you can call into the normal Money Advice drop in sessions at the following times:

• Monday & Friday

: 10AM - 1PM

• Tuesday & Thursday : 1 PM - 4PM
• The final deadline for submitting Fastrack Forms and evidence will be Tuesday 5th June 2018.
• Eligible applications will receive payments in two instalments on 14th June and 28th June18

Student Services

Money Advice

Notification of your Fastrack funding application will be sent to you via email. If you qualify for an award the email will also detail the payment dates.

NOTIFICATION OF APPLICATION

Student Services

Money Advice

Money Advice Student Funding 2018/19

Student Services

Money Advice

Information about Student Funding?

Student Services

For a complete overview of the funding that you can apply for, visit our Money Matters web pages.

https://www.edgehill.ac.uk/study/money-matters/

Money Advice

Applying for undergraduate funding

Student Finance Tuition Fee Loan

Paid directly to your University

Maintenance Loan

Paid directly to you

Extra Support

• Disability support
• Support if you have

dependants

• Travel Grants
• Care Leavers

Student Services

Money Advice

Applying for undergraduate funding

• You can apply for the Tuition Fee Loan and

Maintenance Loan by completing one application form.

• The application form - PN1 can be completed on-

line or downloaded from their website.

• https://www.gov.uk/apply-online-for-student-finance

Student Services

Money Advice

Tuition Fees

• The 2018/19 Tuition Fee charged will be £9,250
• Eligible students won’t have to pay any tuition fees up front
• A Tuition Fee Loan doesn’t depend on household income

Student Services

Money Advice

Maintenance Loan

If you live in England for 18/19 :

• The maximum loan available to students

will be £8,700.00 for 30 week courses.

• If you qualify for relevant benefits you

may be entitled to the maximum amount

• f £9,916.00
• The amount available, not based on

household income, is £4,054.00

47% 53%

Maintenance Loan split for 2018/19

Not based on household income Based on household Income

Student Services Please check your relevant nation’s Student Finance for maintenance loan figures.

Money Advice

Supplementary Grants

Potentially available to students who:

• Have children or an adult dependent on them.
• Have a disability, long-term health condition, mental-health condition or specific

learning difficulty.

• Study overseas as part of their UK based course.
• Have been in the care of their Local Authority.

Student Services

Money Advice

Applying for undergraduate funding

• Make a budget that you can stick to
• Apply for Student Finance early
• Make sure you have applied for everything you think you qualify for
• Help is out there if things go wrong

Student Services

Money Advice

Repayment of Student Loan

• Loans are repayable after you have left university at a repayment rate dependent
• n your income.
• The interest rate is linked to inflation (Retail Price Index).
• The Maintenance Loan and Tuition Fee Loan will be combined as one loan.
• For further information, please visit the following website:

www.studentloanrepayment.co.uk

Student Services

Money Advice

Scholarships & Bursaries

Scholarships

• Students in higher education can apply for money

directly from their university or college on top of any

• ther student finance - you don’t have to pay this

money back. Bursaries

• Bursaries are like grants and don’t have to be paid
• back. You could receive a bursary directly from your

university or college.

Student Services

Money Advice

Advice and Guidance

University Money Advice Team

• Advice about your finances
• Drop in sessions

Student Support Funds

• You could be eligible for extra support

from your university if you’re experiencing financial hardship

Student Services The Money Advice Team are based within the Student Information Centre (SIC). Get in touch on: moneyadvice@edgehill.ac.uk 01695 657 250 You can drop in to speak to the team between the following times: Monday & Friday : 10AM - 1PM Tuesday & Thursday : 1PM - 4PM

Money Advice

QUESTIONS ?

Contact us at: moneyadvice@edgehill.ac.uk Phone: 01695 657250 edgehill.ac.uk/studentservices/moneyadvice edgehill.ac.uk/study/money-matters

Student Services