Student Finance 2018-19 - Edge Hill University: University of the Year 2014/15 - Weatherhead High School

 
Student Finance 2018-19 - Edge Hill University: University of the Year 2014/15 - Weatherhead High School
Edge Hill University: University of the Year 2014/15

                     Student Finance 2018-19
Student Finance 2018-19 - Edge Hill University: University of the Year 2014/15 - Weatherhead High School
Student Finance

• Tuition Fee Support

• Maintenance Support

• Repaying Student Loans

• Scholarships &
  Bursaries

• Any Questions?
Student Finance 2018-19 - Edge Hill University: University of the Year 2014/15 - Weatherhead High School
Tuition Fees
Student Finance 2018-19 - Edge Hill University: University of the Year 2014/15 - Weatherhead High School
What do tuition fees cover?

       •       Lectures, seminars and tutorials

           •       Compulsory course field trips

   •       Professional Body Examination Fees

               •    University support services

               •    Access to university library

           •       Access to computer facilities

                    •   Administrative costs

       •       Membership of a students’ union
Student Finance 2018-19 - Edge Hill University: University of the Year 2014/15 - Weatherhead High School
What are Tuition Fees?

                         •   Max. £9,250/year

                         •   Eligibility:
                               • English citizen
                               • Studying in UK
                               • First Degree

                         •   Paid directly to your
                             university

                         •   No up-front fees
Student Finance 2018-19 - Edge Hill University: University of the Year 2014/15 - Weatherhead High School
Maintenance Loan
Student Finance 2018-19 - Edge Hill University: University of the Year 2014/15 - Weatherhead High School
What do students need money for?

                                   Edge Hill University
Student Finance 2018-19 - Edge Hill University: University of the Year 2014/15 - Weatherhead High School
Average Accommodation = £147
Student Finance 2018-19 - Edge Hill University: University of the Year 2014/15 - Weatherhead High School
Maintenance Loan

  Covers cost of living

    Loan is optional

Part non-means tested,
  part means-tested

      Repayable

   Transferred to your
       account in
three Termly Instalments
Student Finance 2018-19 - Edge Hill University: University of the Year 2014/15 - Weatherhead High School
Maintenance Loan

                                                 Maximum Loan Amount
              Full Year Student
                                                      from SFE

        Parental Home                                       £7,324*
        Elsewhere                                           £8,700*
        London                                              £11,354*

       *These figures are subject to final Parliamentary Approval which is due in early 2018.
Maintenance Loan
                                                             Students living away
                                Household
                                                                 from home
                                 Income
                                                                  2017/18*
                           £25,000 & under                              £8,700
                                  £30,000                               £8,076
                                  £35,000                               £7,452
                                  £40,000                               £6,828
                                  £45,000                               £6,204
                                  £50,000                               £5,579
                                  £55,000                               £4,955
                                  £60,000                               £4,331            *Maximum
                                                                                          Loan Amounts
                                  £65,000                               £4,054
**These figures are subject to final Parliamentary Approval which is due in early 2018.
Income Assessment

     Based on gross taxable household income
     where the student predominantly resides

    Step parents/partners’ incomes are included

       Assessed based on prior financial year

    If income has dropped by more than 15% you
         can request a current year assessment
Repaying Student Loans
How much will I owe?

                       •   The average student
                           will owe around
                           £35,000-£40000 by
                           the end of their studies.
                           (The institute of fiscal studies,
                           2015)

                       •   The average graduate
                           starting salary is
                           £19,000-£22,000
                           (Glassdoor,8th Nov 2017)

                       •   Graduates in general
                           can expect to earn
                           £9500 more than a non
                           graduate annually.
                           (Department of Education
                           2016, ONS)
Repaying Student Loans

                            The two loans are
                           combined together

                           Start to repay once:
                           • You’ve graduated
                         • You’re earning above
                                   £25,000

                          You will repay 9% of
                          everything you earn
                           above £25,000
Repaying Student Loans

  Income each year      9% will be deducted   Monthly repayment
           Click to edit Master
      before tax                from               (Approx)
           title style

      ≤ £25,000                £0                    £0

      £27,000                £2,000                  £15

      £30,000                £5,000                £37.50

      £40,000                £15,000               £112.50

      £50,000                £25,000               £187.50

      £60,000                £35,000               £262.50
Repaying Student Loans

                          You will only ever repay
                             from when you’re
                         earning above £25,000

                             After 30 years of
                         repaying, whatever’s left
                            over is written off
                                completely

                           If you move or work
                          overseas, repayments
                             will still be taken
Additional Support,
Scholarships &
Bursaries
Additional Support

•    Disabled Students Allowance (DSA’s)
      Mental Health Conditions Specific
             learning disabilities

•    Dependants Grants
             Childcare grant
        Parents Learning Allowance
         Adult Dependants Grants
    Who is eligible for a Student Loan?
•    University specific scholarships &
     bursaries

•    Non-repayable

         Further information can be
           found at www.gov.uk
Scholarships

      Universities set their own criteria

 Normally reward excellence or focus on lower
              income families

   Applications vs guaranteed scholarships
             Fee waiver vs cash

Can be achieved through a variety of methods &
                activity areas:

                    Sport
                Volunteering
              Performing Arts
            A-Level/BTEC Grades
Excellence Scholarship
  •     Full-time undergraduate degree

  •     Nothing to do with your financial
      situation, degree subject or academic
                   achievement

Demonstrate determination, commitment
 and achievement outside your studies.

              Creative Arts

           ICT and Enterprise

            Performing Arts

      Volunteering and Citizenship

 Worth £2,000 (4 installments in first
   year) + discounted membership
Sports Scholarship
      •      Full-time undergraduate degree
             nothing to do with your financial
          situation, degree subject or academic
                       achievement

      •     Worth up to £1000 per year

  •       Talented at sport - competitive level

      • Three levels of scholarship (Gold,
      Silver & Bronze) with different benefits
              and qualification criteria

  •       Progress in both your sporting and
            academic pursuits to have the
            scholarship renewed annually
Student Opportunity Fund
Enables you to apply for financial support and take
part in activities which enhance your employability.

               Worth up to £2000

   A group of students embarked on a Study China
programme comprising a 20 day trip to Beijing, Shanghai
                  and Hangzhou

Shelbie Seed created a full length short animation film
               to boost her portfolio

Ben Llewelyn-Reid completed a five month internship
   at Verb Marketing, a digital marketing company.

 Ryan Leder produced a play, Numbered Days, which
was shown at The Core at Corby Cube, Northamptonshire.

   Sports Coaching students visited Indiana State
     University to observe elite students in training
Applying for Student Finance
Online application

Apply as early as possible

 31st May deadline for
   guaranteed money
Click to edit Master
title style
Key Messages

              •    Apply early – can take six weeks

      •       Don’t need a confirmed place to apply

                  •   Agree to share information

          •       Only receive money when enrolled

  •       Students re-apply every subsequent year

  •           RETURN the online declaration form!
Recap

               Financial support available
        Tuition Fee Loan        Maintenance Loan
            Paid direct to         Paid to you in
             university             instalments
            Up to £9250             Up to £8700
             Repayable               Repayable

        •    Optional

        •    Only make repayments once you’ve left
             university and your income is over
             £25,000 a year

        •    If you go below £25,000, repayments
             stop
The Student Room:
www.thestudentroom.co.uk/content.php?r=5659-
              Student-Finance

            Student Finance:
     www.studentfinance.direct.gov.uk
 www.gov.uk/apply-online-for-student-finance

         Brightside Calculator:
        www.studentcalculator.org.uk

        Student Finance England:
             0300 100 0607

      Edge Hill Money Advice Team:
               01695 657250
Any Questions?

                        Open Days

                    Saturday 16th June 2018
                  Saturday 18th August 2018
                   Saturday 6th October 2018
                 Saturday 3rd November 2018
                 Saturday 24th November 2018
                    Saturday 15th June 2019

                     www.edgehill.ac.uk
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