Student Finance 2018-19 - Edge Hill University: University of the Year 2014/15 - Weatherhead High School
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Student Finance • Tuition Fee Support • Maintenance Support • Repaying Student Loans • Scholarships & Bursaries • Any Questions?
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
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
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
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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