Student Finance Wales Postgraduate Loan Awareness Seminar - 31 January 2017 - HEP Services
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Student Finance Wales Postgraduate Loan Awareness Seminar 31 January 2017
Welcome & Introduction Paul Smith Head of Partner Services, Student Loans Company
Seminar Objectives
• Provide a full understanding of policy and clarity around
HEP requirements
• Provide early insight into product development, system
requirements and forthcoming changes for HEPs
• Initiate HEP readiness plans
• Feedback from partners on implementation requirements
Delegate Profile
1%
38% 38% Registry/Courses
Fees & Finance
Student Services &
Welfard
Recruitment &
Admissions
Other
31%
46%
Expected Outcomes
• HEPs & recruitment partners will be able to plan and deliver
student funding information
• HEPs will be able to plan and schedule workload and resources
to deliver required administration.
• HEPs will be able to identify and organise structures, reporting
systems and accountability
• SLC will be able to review and modify HEP Services’ service
user resources
• SLC and Welsh Government will be able to consider future
engagement and communications
SFW Postgraduate Loan Policy Overview Nicholas McDermott Planning and Policy, Student Loans Company
SFW Postgraduate
SFW PostgraduateLoan
Loan
• Available from AY 2017/18
• Non-means tested
• Taught and research Master’s; any subject
• Maximum £10,280
• Income Contingent Repayment (ICR)
• Repaid concurrently with other student loans
• Contribution to costs; paid to student
Application process
Application Process
• Paper and online application
• 1 application per course
• Time limits for application and change of loan request
amount will be 9 months after the start date of the final AY
of the course
Personal eligibility
Personal eligibility- residency
- residency
• Residency – as per Welsh undergraduate student support
regulations
• EU students are also eligible
• Three years address history required
Residency Example 1 Stuart is a UK national who confirms that he has been living in the UK and Islands for three years prior to the first day of the first AY of the course. He gives the following address history (most recent address first): Wales: 2 years Scotland: 1 year As Stuart is a UK national who is ordinarily resident in Wales on the first day of the first AY of the course and who has been ordinarily resident in the UK and Islands for three years prior to the first day of the first academic year of the course, he is eligible for PGL.
Residency Example 2 Jason is a UK national who confirms that he has been living in the UK and Islands for three years prior to the first day of the first AY of the course. He gives the following address history (most recent address first): Wales: 2 months Scotland: 2 years and 10 months Jason’s residence in Scotland is not deemed to be temporary (as he was ordinarily resident in Scotland and was not living there for a temporary purpose such as education). SFW concludes that he moved to Wales for the purposes of starting the course. He is therefore ineligible for PGL.
Eligible students - age limit Aged under 60 before 1st day of 1st academic year: 1st September (course starts 1st August to 31st December) 1st January (course starts 1st January to 31st March) 1st April (course starts 1st April to 30th June) 1st July (course starts 1st July to 31st July)
Age limit – example
Sophie
Course start date - 15th October 2016
AY start date - 1st September 2016
60th birthday - 10th September 2016
Eligible as she is under 60 on AY start date
1st Sept 10th Sept 15th Oct
AY start date 60th Birthday Course start dateEligibility – previous qualifications No PGL available to those with an equivalent or higher level qualification, e.g. • Integrated Master’s • Stand alone Master’s • Doctoral degree • Overseas equivalent PGL will only be available where the student is undertaking a full, stand alone Master’s course and not a ‘top up’ from a lower level course, or a partial Master’s course where previous study and/or work experience has been taken into account.
Postgraduate qualification levels Insert content
Eligibility – previous study
• Previous study (no qualification gained) is not taken into
account
• No repeat PGL funding unless student has a compelling
personal reasons (CPR)
• CPR assessed on case by case basis – reasons include
ill health and bereavementQualifications and previous study summary
Ineligible reasons • Doesn’t meet residency / previous study criteria • Outstanding arrears • ‘Unfit’ for student support • Applies too late
Course eligibility Eligible courses: • Stand alone Master’s courses (taught and research, inc. professional) Eligible providers: • Publicly funded HE Providers in UK; and • Alternative providers with specific designation Eligible study modes: • In attendance; and • Distance learning
Eligible course duration
• Full-time courses 1 or 2 years
• Part-time courses 2 – 4 years (50% minimum average)
• Part-time courses up to 3 years with no full-time
equivalentEligible courses Eligible Master’s include the following: • MSc (Master of Science) • MA (Master of Arts) • MPhil (Master of Philosophy) on entry • MRes (Master of Research) on entry • LLM (Master of Law) • MLitt (Master of Letters) • MFA (Master of Fine Arts) • MEd (Master of Education) • MBA (Master of Business Administration)
Payment of PGL
• One confirmation of study required per AY
• Payments split 33% - 33% - 34%
• Payments to be spread over all AYs of the course
(including 3 & 4 year courses)Payment dates 1st instalment: Course start date 2nd instalment: Last Wednesday of the 4th month after the month in which the course starts 3rd instalment: Last Wednesday of the 7th month after the month in which the course starts
Payment dates - examples Course starts on any date in August or September 2017: 1st payment: course start date (confirmation of study received) 2nd payment: last Wednesday in January 2018 3rd payment: last Wednesday in April 2018 Course starts on any date in October 2017: 1st payment: course start date (confirmation of study received) 2nd payment: last Wednesday in February 2018 3rd payment: last Wednesday in May 2018 Course starts on any date in January 2018: 1st payment: course start date (confirmation of study received) 2nd payment: last Wednesday in May 2018 3rd payment: last Wednesday in August 2018
Payment amounts
Course duration Maximum Loan per AY
2AYs Year 1 - £5,140
Year 2 - £5,140
3 AYs Year 1 - £3,426
Year 2 - £3,426
Year 3 - £3,428
4 AYs Year 1 - £2,570
Year 2 - £2,570
Year 3 - £2,570
Year 4 - £2,570Change of circumstances - transfers
• Students can transfer between eligible courses (at the
same or at a different HE Provider)
• Where the student transfers to a course at a different HE
Provider, the new HE Provider must confirm the transfer
to SLC before any future payments will be released
• If a student transfers between eligible and ineligible
courses, no PGL is available for study on an ineligible
courseSuspensions
Students may suspend study with the agreement of their HE
Provider. Remaining PGL entitlement can be accessed when the
student resumes their course.
Suspension pattern Support
Suspends and resumes in the
support not affected
same payment period
Suspends and resumes in the
support not affected
following payment period
Suspends for a full payment period missed payment made on
(or a full academic year) resumptionWithdrawal and overpayment
• Where a student withdraws from a course:
- Future payments of PGL are cancelled
- Previous payments are only affected if the
withdrawal is retrospective
• Where a payment is made after the student has
withdrawn, the loan overpayment is collected separately
from the main balance
• Overpayments are also due to be repaid where the
student was not eligible for PGLRepayment plan types Plan 1 loans Loans for HE courses that started pre 1st September 2012 Plan 2 loans Loans for HE courses that started from 1st September 2012 (excluding PGL) Postgraduate Loans (‘Plan 3’) Loans for English PG Master’s courses starting from 1st August 2016
Repayment threshold
• Repayments due from April 2019
- UK threshold £21,000
- Overseas thresholds based on Price Level Indices
• Thresholds frozen until April 2021
• 6% of income deducted over threshold
• Voluntary repayments at any time (without penalty)Interest rate and write off
• RPI + 3% interest rate while the borrower is:
- in course
- out of course (whether making repayments or not)
• Balance written off:
• 30 years after repayments due
• Borrower dies
• Borrower permanently disabled and cannot work due
to disabilityRepayment – example
Funding Information Services Katy Barge Funding Information Partners Account Manager, Student Loans Company
SFW Postgraduate Loan Content • Funding Information Partners Account Manager Team • Undergraduate Overview 2017/18 • Postgraduate Loan: Student Application Process • Resources & Tools • Postgraduate Loan Repayments • Further Support
SFW Postgraduate
Regional Support:Loan
Funding Information Partners Account Manager Team
• We establish and manage relationships with partners across
England and Wales who support the journey of students from
application to repayment
• Deliver high quality, up to date and accurate student funding
information covering the support available to full and part-time
undergraduates and postgraduates
• We communicate key student finance messages through
bespoke Funding Information training sessions and via timely
remote updates
• An accessible point of contact for any Funding Information
related student finance queriesSFW Postgraduate
Regional Support:Loan
Funding Information Partners Account Manager Team
All members of the Funding Information Partners Account
Manager Team are linked to specific regions across England
and Wales
A detailed list of areas covered can be
found on the FI Partner Support section
of our Practitioner website
South Wales
katy_barge@slc.co.uk
North Wales
jon_legg@slc.co.ukSFW PostgraduateOverview Undergraduate Loan 2017/18 • The maximum fee which publicly funded Higher Education Institutions can charge in 2017/18 is £9,000 (Wales) and up to £9,250 (elsewhere in the UK) • The tuition fee will be decided by the university or college including if it charges different amounts for different courses • Increase (3.7%) in the maximum Tuition Fee Loan available to £4,046 (£4,296) • Tuition Fee Grant will reduce by an equivalent amount to £4,954 • Students attending alternative providers in the UK offering designated courses will be able to borrow up £6,165 towards tuition costs – no Fee Grant available • Students will have to self-fund any additional fee charged
SFW PostgraduateOverview
Undergraduate Loan 2017/18
Maintenance Support
Maintenance 75% non means
25% means tested Maximum loan
Loan Rates tested
Parental home £4,019 £1,339 £5,358
Elsewhere £5,191 £1,731 £6,922
London £7,273 £2,424 £9,697
Overseas £6,190 £2,063 £8,253
• Welsh Government Learning Grant of up to £5,161 also available
(100% means tested)SFW PostgraduateOverview
Undergraduate Loan 2017/18
• Welsh domiciled students will be eligible for the standard package of
support administered by SFW to attend Nursing, Midwifery and allied
health professional courses at HEPs in England
• Welsh domiciled students who elect to study an eligible health related
programme in Wales commencing in September 2017 will be eligible for
the current NHS Bursary
• This will apply to all students (Wales and rUK domiciled)
• Based upon individuals committing in advance to take up the opportunity
to work in Wales post qualification for a period of two years
• Otherwise, Welsh domiciled students will have access to the standard
student support package available from Student Finance Wales
• Standard UG package of support also available from SFE/SFNI/SAASPostgraduate Loans: Overview
SFW Postgraduate
Student Loan
Application Process
• Application launch Summer 2016
• Only one application per course, no necessity to apply each year of
course
• Online or paper application
• As application relates to a new course, further identity check required
e.g. Passport number requested and verified with HMPO
• If held, student NINO will be re-used otherwise will be requested and
validated with DWP (excludes EU students if NINO not held)SFW Postgraduate
Student LoanProcess
Application
As part of the application process, students will need to:
• Agree to terms and conditions (Loan and Repayment)
• Provide details for two named contacts
• Provide required supporting evidence/information – including three
years address history, NINO, UK bank account and valid identity
details
• Review their loan request and payment scheduleSFW Postgraduate
Student Loan
Online Application
• Time limits will be 9 months after the start date of the final AY of the
course for:
- loan application
- change of loan request amount
• Postgraduate Loan capped at £10,280 and paid directly to student
• Once a student has registered an account, they will be asked a series of
pre-eligibility questions covering nationality, residency and course start
date
• Students may be re-directed to appropriate website (e.g. gov.uk)SFW Postgraduate
Login Loan
to Student Finance WalesSFW Postgraduate
Terms Loan
& Conditions – Key FactsSFW Postgraduate
Terms Loan
& Conditions – Key FactsSFW Postgraduate
Terms Loan
& Conditions – Key FactsSFW Postgraduate Loan Application
SFW Postgraduate
Student Loan
Online Application
• Application functionality allows students to leave their application (during
data entry), and have the data provided to that point saved:
• When clicking on the link ‘save and come back later’ students see a
confirmation page to informing them their details have been saved
• Even if the student closes their browser on this confirmation page, no
details would be lost
• Students can continue by clicking on the ‘complete your application’ link
within their ‘My Account’
• The student is taken to the page where they exited their applicationSFW Postgraduate
Application Loan
– DomicileSFW Postgraduate
Application Loan Redirect
– DomicileSFW Postgraduate
Application Loan
– Loan RequestSFW Postgraduate
Application Loanand Conditions
– TermsSFW Postgraduate
Application Loan
– SummarySFW Postgraduate
Application Loan
– Final Summary
The final page offers a link back to a
student’s ‘My Account’, providing:
• A review of application details
• Confirmation of submission and
SLC processing updates
• Advice to students to check their
‘to-do list’ for any additional action they
may need to takeSFW Postgraduate
Postgraduate LoanLoan
Repayment
• Loan repayments will be due from the April after course completion (or
withdrawal date) subject to meeting the annual income threshold, currently
£21,000
• Repayments will commence from April 2019 although voluntary repayments can
be made before this date
• Income contingent repayment term, runs concurrently with any other student loan
repayments (i.e. Plan 1 or Plan 2)
• Repayment amount is 6% of income above £21,000
• Interest is calculated at RPI + 3% on outstanding PGL balances and will accrue
from the date the first loan instalment is paid to the student
• Repayment from overseas – threshold is applied based on the cost of living in
country of residenceSFW Postgraduate
Postgraduate LoanLoan
Repayment
Gross Annual 6% Repayment Monthly Repayment
Income Deducted From (Postgraduate Loan)
£21,000 £0 £0
£25,000 £4,000 £20
£30,000 £9,000 £45
£35,000 £14,000 £70
£40,000 £19,000 £95
£50,000 £29,000 £145
£60,000 £39,000 £195
Any outstanding Postgraduate Loan balance will be written off 30 years after the date the
student enters repaymentSFW Postgraduate
Postgraduate LoanLoan
Repayment
Gross Annual Monthly Repayment Monthly Repayment
Income (Post 2012 UG Loan) (Postgraduate Loan)
£21,000 £0 £0
£25,000 £30 £20
£30,000 £67 £45
£35,000 £105 £70
£40,000 £142 £95
£50,000 £217 £145
£60,000 £292 £195
9% of income above £21,000 repaid to ICR Plan 2 Loan balance
6% of income above £21,000, repaid to Postgraduate Loan balanceSFW Postgraduate
Postgraduate LoanLoan
– Resources & ToolsSFW Postgraduate
Postgraduate LoanLoan
– Resources & Tools
February
• High level information to raise awareness on the SFW website
February/ March
• High level resources , including:
‒ Printed quick guides about the application process and repayment
‒ Available to order or download from the practitioner website
‒ Continued activity on social media channels
‒ Customer facing films on YouTube and the practitioner website
Launch
• Postgraduate Loans Main Guide and Terms and Conditions on the practitioner website
• More detailed information on repayment website
• SFW website updated with more detailed information for students & practitionersSFW Postgraduate
Postgraduate LoanLoan
– Resources & Tools
www.studentfinancewales.co.uk/practitioners
The latest news and policy updates
An extensive range of tools and guidance, including:
– quick guides to order and download,
– PowerPoint presentations;
– a range of short informative films;
– detailed main guides;
– a range of factsheets covering the key points
Contact details for the Funding Information Partners
Account Manager Team (Wales)SFW Postgraduate
Postgraduate LoanLoan
– Resources & Tools
SFW on YouTube – youtube.com/sfwfilmSFW Postgraduate
Postgraduate LoanLoan
– Resources & Tools
SFW on Social Media
facebook.com/SFWales
twitter.com/sf_walesThe PGL Experience for AY 2016/17 Paul Smith Head Of Partner Services, Student Loans Company
Progression
• 40% of applicants studied UG >6 years ago.
• Application system familiarity or false assumptions
• Marketing to UGs
- Result predictions
- Later applicantsPractitioner Awareness • Funding Information Services • Course construction • Cross-border & residence rules • AID & Service Standards • Student messages • Linking of fees to loans
Fees & Hardship
• Review fees policy for admissions
- Advice to students
- Deposits (refundable?)
- Employer contributions
- Instalments
• Expect Hardship
- Student assumptions on living costsYou can also read
