FUNDING FOR UNDERGRADUATE STUDENTS What this Guide will cover: Student Finance for 2016/17 (Welsh and English students) FAQ’s for Prospective Students Previous Study
Additional Funding for Social Work Students Care Leavers Support Package
Student Loan Repayment
Student Finance for 2016/17 - Welsh Domiciled Students Tuition Fee Loan and Grant Students living in Wales who are starting their studies in academic year 2016/17 can apply for a Tuition Fee Loan and a Tuition Fee Grant to cover the full cost of tuition fees (subject to terms and conditions). They can do this by applying to Student Finance Wales (SFW).
Tuition Fee Cost Tuition Fee Loan (Maximum) Tuition Fee Grant (Maximum)
Amount per academic year £9000 £3900 £5100
Tuition Fee Loan and Grant payments are made directly to the University upon confirmation of your attendance each term, therefore no up-front payment is required.
Maintenance Loan and Welsh Government Learning Grant Funding towards a student’s living costs is made up of maintenance loans and grants. The amount you are entitled to will be dependent on where you live and your household income, as demonstrated in the table below. For a more detailed estimate, please use the Student Finance Wales Student finance calculator, www.studentfinancewales.co.uk/calculator.aspx.
Welsh Government Learning Grant and Maintenance Loan Entitlement Household Welsh Government Maintenance Loan - Living Maintenance Loan - Living income Learning Grant away from home at parents' Home. £18,370 £5161 £3603 £2206 £25,000 £3347 £4510 £3113 £30,000 £2099 £5134 £3737 £34,000 £1142 £5612 £4215 £40,000 £734 £5816 £4419 £45,000 £393 £5987 £4590 £50,020 £50 £6158 £4761 £55,000 £0 £5334 £3637 £58,484+ £0 £4637 £3590 Students whose household income is £58,484 or above will be entitled to a Maintenance Loan which is not assessed on household income and is the minimum available to all students, as shown in the table above. Maintenance payments are paid directly to you in 3 instalments. Your 1st instalment will be paid after you have enrolled and collected your ID card (the subsequent 2 instalments will be paid on the 1st day of the Spring and Summer terms).
Special Support Grant Students who meet the eligibility criteria can receive a Special Support Grant instead of the Welsh Government Learning Grant. The value of the Grants are the same but unlike the Welsh Government Learning Grant, the Special Support Grant will not affect the amount of Maintenance Loan that the student may be entitled too. Additionally, it does not count as income when working out income-related benefits or Tax Credits. The criteria for being entitled to the Special Support Grant can be found at: www.studentfinancewales.co.uk/practitioners/products/help-with-living-costs
Partial Cancellation of Maintenance Loan Welsh funded students can also apply for a one-off partial cancellation of up to £1500 on their Maintenance Loan. To receive this cancellation, students will have to make a minimum early repayment of £5 towards their Maintenance Loan debt. The cancellation can only be applied once and is taken from the current balance that has been paid to the student. Therefore, it is advisable that students wait until they have received at least £1500 of Maintenance Loan funding before making the early repayment. 1
Student Finance for 2016/17 - English Domiciled Students Tuition Fee Loan Students living in England who are starting their studies in academic year 2016/17 can apply for a Tuition Fee Loan to cover the full cost of tuition fees (subject to terms and conditions). They can do this by applying to Student Finance England (SFE). Amount per academic year
Tuition Fee Cost
£9000
Tuition Fee Loan (Maximum)
£9000
Tuition Fee Loan payments will be made directly to the University upon confirmation of your attendance each term, therefore no up-front payment is required.
Maintenance Loan From September 2016, Maintenance Grants will no longer be available to new students who are domiciled in England and will be replaced with increased levels of Maintenance Loan as described below. The amount you are entitled to will be dependent on where you live and your household income, as demonstrated in the table below. For a more detailed estimate, please use the Student Finance England calculator https://www.gov.uk/student-finance-calculator.
Maintenance Loan Entitlement
Household income £25,000 £30,000 £35,000 £40,000 £42,875 £45,000 £50,000 £55,000 £60,000 £62,180+
Maintenance Loan Living in parental home £6904 £6322 £5740 £5158 £4824 £4576 £3994 £3412 £3039 £3039
Maintenance Loan Living away from home £8200 £7612 £7023 £6434 £6095 £5845 £5256 £4667 £4078 £3821
Maintenance payments are paid direct to you in 3 instalments. Your first instalment will be paid after you have enrolled and collected your ID card (the subsequent 2 instalments will be paid on the 1st day of the Spring and Summer terms).
Additional Maintenance Loan Students who meet the eligibility criteria may be entitled to a higher rate of Maintenance Loan to help cover their living costs. This additional loan entitlement has replaced the Special Support Grant. It is advised that you use the Student Finance England Calculator for a detailed estimate as to how much Maintenance Loan you will be entitled to: https://www.gov.uk/student-finance-calculator 2
Supplementary Grants (Grants for Dependants) The maximum amount of Supplementary Grants you are entitled too will differ depending on whether you are applying to Student Finance Wales or Student Finance England for your funding. Supplementary Grant Child Care Grant (1 Child) Childcare Grant (2 or More children) Parental Learning Allowance Adult Dependant Grant
Student Finance Wales £161.50 £275.55 £1557 £2732
Student Finance England £155.24 £266.15 £1573 £2757
Childcare Grant You can apply for the Childcare Grant if you are a full-time undergraduate student and at the beginning of the academic year you: Are a UK student Have at least one dependent child under 15 and in registered or approved childcare; or Have at least one dependent child under 17, who has special educational needs and is in registered or approved childcare. Depending on your household income, you can apply for up to 85% of your actual childcare costs during term time and holidays. Students applying for the Childcare Grant will need to complete a CCG1 in order to apply, followed by a CCG2 later in the year, which evidences the actual cost of the childcare you have utilised.
Parental Learning Allowance You can apply for the Parents’ Learning Allowance if you are a full-time undergraduate student with dependent children. This allowance helps with the extra costs associated with being a parent and a student. You do not need to be paying childcare to be eligible. The amount you can get depends on your household income, which is the income of your husband, wife, civil partner or partner (if you have one) and any dependants. Students will need to apply to their main funding provider (e.g. Student Finance Wales). It will be assessed based on the information you’ve given in your main application for student funding but Student Finance may require more evidence to support your application.
Adult Dependants’ Grant You can apply for the Adult Dependants’ Grants if you are a full-time undergraduate student and have an adult who depends on you financially. The adult can be a partner or another adult who depends on you financially. Grown-up children do not qualify as adult dependants. The amount you can get depends on your household income, which is the income of your husband, wife, civil partner or partner (if you have one) and any dependants. Students will need to apply to their main funding provider (e.g. Student Finance Wales). It will be assessed based on the information you have given in your main application but Student Finance may ask for more evidence to support your application.
How are Supplementary Grants paid? Usually in three instalments, one at the start of each term directly into your back account, along with any other maintenance funding (loan and grant) you receive.
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Previous Study Usually you can only receive student finance for your first degree. If you have taken a higher-education course in the past (Degree, HND, HNC, Foundation degree etc) this is likely to affect any future entitlement to Student Loans and Grants, even if you only attended one day of an academic year. This still applies even if you have not accessed Student Finance. Under current previous study rules, you can only receive support from the Student Loans Company for a limited number of years. Simply put, students have entitlement to funding for the length of their course plus one additional year. This ‘plus one’ year is intended to cover any false starts or transfers. So, if you are studying on a 3-year course your entitlement would be: 3 + 1 = 4 years. Previous study rules can be very complex and depend on many different factors. If you have previous study it is advised that you contact the Money@CampusLife Team to discuss your individual circumstances with an advisor.
Compelling Personal Reasons (CPR) If you have to repeat a year of your studies as a result of CPR, you may be able to access an additional year of funding without affecting your +1 year. CPR can include health-related issues, disability, family problems or bereavement. This list is not exhaustive, and you should seek advice from your university/college if you think this applies to you. For more information please contact Money@CampusLife to speak with an advisor.
Financing Your Social Work Degree As a Social Work student you are eligible for full Student Loan package and may also be entitled to further specific Social Work funding. For information relating to English domiciled Students, please visit www.nhsbsa.nhs.uk/students.
Welsh domiciled Students: Social Work Bursary (Welsh domiciled students)
The Care Council for Wales offer a number of Social Work Bursaries worth £2,500. To be eligible to apply you must be ordinarily resident in Wales and not be receiving a financial incentive to train from an employer. The University will ‘nominate’ a selection of students who will be able to apply to the Care Council for the Bursary. Nominated students will receive a Social Work Bursary application form and guidance booklet via email. For more information, please visit the ‘Information for Applicants’ pages at www.ccwales.org.uk
Practice Learning Opportunity Allowance (PLOA)
The PLOA provides a contribution towards placement expenses that Social Work students incur as an integral part of their qualifying training. Eligible students will receive £500 per annum as a contribution towards Practice Learning Opportunity costs. For more information about the allowance please visit: www.ccwales.org.uk 4
FAQs for Prospective Students What is involved in the Income Assessment?
What is Household Income?
All eligible full-time students get a basic level of financial help, but the total you are entitled to will depend on your household income. If you apply for the ‘income assessed’ element of the student finance package an assessment will be done to calculate the exact amount you can get. Household Income is the total amount your family earns each year before Tax and National Insurance are deducted. It is based on earnings for the tax year 2014/15 for the academic year 2016/17. Whose income is assessed depends on whether you are classified as a dependent or independent student.
What if my Household Income is higher than the Grant threshold?
You can apply for the minimum amount of Maintenance Loan without having your household income looked at should you wish. This means you can apply without your parents or partner having to send in any details of their income.
What if I’m not sure which university I will go to or what course I want to study?
You need to indicate what your first choice university and course will be. If you change your mind later you can change these details. We would advise you apply for funding this way, to ensure that your assessment is completed before the start of term. If you apply after receiving your A-Level results you are unlikely to have funding in place for the start of the course, which may cause difficulty in paying rent and living costs. Don’t worry if you change your mind about attending university as your application can always be cancelled at a later date.
How much will it cost to study in Swansea?
For more information on the cost of living and likely course costs you may incur, visit our webpage: www.swansea.ac.uk/undergraduate/fees-and-funding/cost-of-living/ A student will be considered independent if:
Who is an Independent Student?
You are 25 or over before the start of the current academic year You have been married or entered into a civil partnership before the start of the current academic year You have care of a child/children You have financially supported yourself for at least 3 years before the start of your course. You have no living parents or you are permanently estranged from your parents. You are a Care Leaver (i.e. 24 or under and in care a minimum of 3 months before the age of 16)
For more information on independent student status, please contact Money@CampusLife to speak with an advisor. 5
University Scholarships and Bursaries Excellence Scholarships £3,000 will be awarded to all students who achieve AAA at A-Level (or equivalent). Achievement of an equivalent grade in the Welsh Baccalaureate Advanced qualification is recognised for the purposes of the award. Each Scholarship will be worth £3,000 over three years (paid in three equal instalments - with £1,000 paid in the first year, £1,000 paid in the second year and £1,000 paid in the third year).
Merit Scholarships £2,000 will be awarded to all students who achieve AAB at A-Level (or equivalent). Achievement of an equivalent grade in the Welsh Baccalaureate Advanced qualification is recognised for the purposes of the award. Each Scholarship will be worth £2,000 over three years (paid in three equal instaments - with £670 paid in the first year, £670 paid in the second year and £670 paid in the third year).
Income Related Bursaries Swansea University has a strong track record of widening access, ensuring that as many talented people as possible have the opportunity to participate in higher education regardless of their geographic, social and economic background. We believe that family income should not be a barrier to education, and we have introduced significant additional financial support for students from lower income backgrounds. The financial support consists of a Progression Bursary, payable in instalments over the duration of your study. The table below illustrates how the bursary will be awarded.
Household Income
Progression Bursary (Total value)
up to £15, 000
£3000
£15,001 - £25,000
£2000
£25,001 - £30,000
£1000
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Care Leavers Support Package What’s Whatavailable? is it? Swansea University offers extra support for students who have been in care. We have a package of support measures which we hope will help students to settle in, focus on their studies while they are with us and graduate successfully.
What is available?
Care Leavers Grade Reduction Scheme (T&C’s apply) £1000 Bursary per year Financial assistance in attending open days at Swansea University Help applying for University and obtaining your student finance. All year round accommodation A named contact whilst you study – for those times when you aren’t quite sure what to do or where to get help! A direct referral service for the Wellbeing Service, Disability Office and Centre for Academic success, if required. Financial Assistance to help cover the cost of Graduation.
How do I qualify?
Be aged 25 or under when you start the course and Have been in local authority care for at least 13 weeks since the age of 14 and Have been in local authority care at school leaving age (16) or after that date. If you are unsure if you meet the criteria above, get in touch and discuss your circumstances with one of our named contacts.
This package has been designed for care leavers whose permanent residence is in the United Kingdom and who are UK students for fee purposes.
Applicants who are not UK students are welcome to contact the Money@CampusLife Team to discuss any support needs they may have.
What do I need to do?
Get in touch ASAP! Let us know your plans and the support you would like to access. Confirm you are a Care Leaver on your UCAS application and we will contact you with the relevant details. Provide a letter from your social worker, confirming your status. Once we have this, all the support is available to you. 7
Student Loan Repayment What do I repay? Student loans are available to UK and EU students studying at university (subject to eligibility criteria). The loans that you receive during your studies will need to be paid back after you leave University. Your student loan is made up of two parts: Maintenance Loan. Tuition Fee Loan.
Any grants, bursaries or scholarships paid to you during your time at university do not need to be paid back.
When will I start repaying my loan?
You only start to repay your loan once you are earning over £21,000. Repayments will start at the beginning of the tax year (the April after you leave university). If your salary drops below £21,000 (for example if you take a career break or are unemployed) repayments will stop. Repayments only start again when you earn over £21,000.
How much will I have to pay?
You repay 9% of whatever you earn above £21,000. Your repayments will be the same regardless of how much you borrow, as the repayment is calculated based on how much you earn; not how much you borrowed. However, if you borrowed more you’ll spend longer repaying the loan. After 30 years, regardless of how much of your loan has been repaid, the remaining debt is cancelled. Salary Amount of salary from Monthly which 9% will be deducted repayment £4,000 £30.00 £25,000 £9,000 £67.50 £30,000 £14,000 £105.00 £35,000 £19,000 £142.50 £40,000 £29,000 £217.50 £50,000
How are repayments made? Loan repayments will be deducted from your salary, normally through the PAYE tax system.
How much Interest will I be charged? Income While you’re studying and up until the April after you leave college or university £21,000 or less
Rate of Interest Rate of Inflation (Retail Price Index) plus 3% Rate of Inflation
£21,000 to £41,000
Rate of Inflation plus up to 3% (on a gradual scale) Rate of Inflation plus 3%
£41,000 and over
It is expected that only a very small proportion of students will repay their loans in full. Therefore it may be helpful to view this as a 30 year ‘tax’ and not as a loan that needs to be repaid in full.
Student loans are not recorded on credit files, so having a student loan will not have an effect on your credit rating.
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For more information, please contact Money@CampusLife: 01792 606699 Money.CampusLife@swansea.ac.uk www.swansea.ac.uk/money-advice
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This leaflet is also available in Welsh and alternate formats such as Braille, large print etc. For further information please contact: CampusLife Reception on 01792 602000.
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