Student Finance Or How to Enjoy Lentils Malcolm Scott Careers Adviser CXK Ltd
Tuition fees for 2013 Between £6,000 and £9,000 per year. Paid through tuition fee loan
Maintenance Grant 2013 Household Income
Help Available
£25,000 or less
Full £3,354 Grant
Between £25,001 and £42,611
Partial Grant between £3,354 and £50 No Grant
Over £42,611
Maintenance Loans Maximum for Academic Year 2013/2014 London
£7,675
Elsewhere
£5,500
Home
£4,375
35% of loan is means tested once household income exceeds £45,000. First £1400 of maintenance grant replaces loan.
National Scholarships Programme • To help students whose families' income is £25,000 or less • Each university or college has its own rules about eligibility, what types of awards are available, and is responsible for making awards to students • Directgov provides a portal linking to each institution’s NSP scheme. • Each eligible student will receive a benefit of not less than £3,000
National Scholarships Programme The money available may include: • help with tuition fees • accommodation • a cash bursary of up to £1,000 or other help.
National Health Service bursaries for health professional courses Audiology
Operating Department Practice
Podiatry
Orthoptics
Dental Hygiene & Therapy Physiotherapy Dietetics
Prosthetics & Orthotics
Nursing
Radiography
Midwifery
Social Work
Occupational Therapy
Speech & Language Therapy
Loan Repayments Annual Income
Monthly Repayment
£21,000
£0
£25,000
£30
£27,000
£45
Interest rate linked to Retail Price Index
Interest Rates Annual Income
Interest Rate
£21,000
‘no real rate’
£21,000-£41,000
‘tapered increase’
Over £41,000
‘maximum of RPI plus 3%’
Maximum rate applies while studying Repayments collected by HMRC through PAYE
UNDERGRADUATE STUDENT FINANCE 2012 (Single, living away from home, 30 teaching weeks in Academic year, accommodation on campus required for 31 or 39 weeks dependant on whether catered or self catered and including Christmas and Easter vacations)
INCOME Annual Total (Student Loan to cover 39 wks) £5,500.00 Weekly Income
£141.00
ESTIMATED EXPENDITURE (per week) Rent Mobile Phone (pay as you go) Food, laundry, personal items(average) Books, equipment and other materials Clothes (average for renewals) Social Activities Allowance for unexpected costs Total estimated expenditure
£95.00 £10.00 £45.00 £ 9.00 £ 5.00 £15.00 £ 5.00
£184.00 per week for 39 weeks
UNDERGRADUATE STUDENT FINANCE 2012 (Single, living away fromhome, 30 teaching weeks in Academic year, accommodation on campus required for 31 or 39 weeks dependant on whether catered or self catered and including Christmas and Easter vacations)
INCOME Annual Total (Student Loan to cover 39 wks) £5,500.00 Weekly Income
£141.00
ESTIMATED EXPENDITURE (per week) Rent Mobile Phone (pay as you go) Food, laundry, personal items(average) Books, equipment and other materials Clothes (average for renewals) Social Activities Allowance for unexpected costs Total estimated expenditure
£95.00 £10.00 £45.00 £ 9.00 £ 5.00 £15.00 £ 5.00
£184.00 per week for 39 weeks
Total for 39 weeks
£7,176
The figures do not include: Travel costs to return home during termtime or vacations Any grant to which the student may be entitled Any scholarship to which the student may be entitled Any income frompart-time employment
Advice Services Manager Kent Union Advice Centre
Further Help: www.bis.gov.uk www.direct.gov.uk/studentfinance www.bestcourse4me.com www.moneysavingexpert.com http://university.which.co.uk www.ucas.com