University-level courses
Fees and Financial Support 2012/13
LINCOLN COLLEGE what we can offer you...
Start a university-level course at Lincoln and you will pay nothing upfront. Course fees at Lincoln College are a maximum of £6,500 per year £2,500 LESS per year than most universities. Research has shown that studying at college costs on average £17,000 less than university Your fees will be paid by a loan from the government which you will only start to pay back when you earn over £21,000.
02-03
Studying Higher Education is a sound investment in your future. The opportunities we offer at Lincoln College provide clear progression into the world of work. We have established relationships with a wide range of regional employers and our courses will give you a clear advantage in a very competitive market place. You need to consider two different elements of cost: - What it will cost you to pay for your course fees - How you will support yourself while you are studying with things like rent, food and books. How much does my course cost per year?
HNC/D FdSc BA/BSc
Full time/yr
Part time/yr
International/yr
£5,500 £5,500 £6,500
£2,750 £2,750-3,667
£9,000 £9,000 £9,000
How will I pay for my course? You will pay nothing upfront for your course at Lincoln College. The cost will be covered by a loan from the UK Government which you will not repay until you are in work and earning over £21,000. Your loan will be paid directly to the College each year. Full time and part time students are eligible for a loan.
Loan repayments based on annual salary after graduation Annual income Up to £21,000 £21,500 £24,000 £25,000 £27,000 £30,000
Annual repayment £0 £48 £276 £360 £540 £816
Monthly repayment £0 £4 £23 £30 £45 £68
Weekly repayment £0 92p £5.30 £6.92 £10.38 £15.69
FINANCIAL SUPPORT
There are four main sources of support that you can apply for: 1. Living Cost / Maintenance Loan for living costs like rent (full time students only) 2. Living Cost / Maintenance Grant if your household income is less than £42,600 (full time students only) 3. Scholarships and bursaries from colleges and universities 4. Extra financial help if you experience severe financial hardship or have a disability or children or adults depending on you. Living Cost Loan (sometimes called a maintenance loan) Loans from the government are available for full time students to assist with their living expenses. The amount you can borrow is determined by your household income. Only full time students can get Maintenance Loans for their living costs. The maximum Maintenance Loan for new students starting from 1 September 2012 is: • £5,500 if you live away from home and study at a university or college outside London • £7,675 if you live away from home and study at a university or college in London • £4,375 if you live at home
04-05
Repaying your Living Cost Loan As with your tuition fee loan, you will not pay back your Living Cost Loan until the April after you leave College and you are earning £21,000. 21,000. Repayments are 9% of your income above £21,000. 21,000. Your repayments will be deducted automatically from your pay through the tax system. Part time students who earn over £21,000 a year start paying back their loans after four years even if their course hasn’t finished. Living Cost grant (sometimes called a maintenance grant) This is an allowance from the government that doesn’t need to be paid back, to help UK students from lower-income backgrounds with their living expenses. You can apply for a Maintenance Grant if your family income is below £42,600. You can get: • £3,250 if your household income is £25,000 or under • £50-£3250 if your household income is between £25,000 and £42,600 These loans and grants are paid into your bank account at the start of each term, once you’ve registered on your course. Use the Student Finance Calculator online at: www.direct.gov.uk/studentfinancecalculator
SCHOLARSHIPS, BURSARIES AND AWARDS The National Scholarship Programme Ten awards with a value of £3000 per year will be made to Lincoln College students. Eligibility is based on household income, to apply please contact Student Services on 01522 876000. Extra financial help for those experiencing severe financial hardship or who have a disability or dependents Various funds are available including: - Parents Learning Allowance - Tax Credits - Childcare Grant - Adult Dependents Grant - Access to Learning Fund. You can also continue to claim some benefits, depending on your circumstances.
06-07
Lincoln College Bursary If you’re not eligible for the National Scholarship, you’ll get £250 cashback when you complete your first year and enrol for your second year.
For help and advice about any aspect of fees and financial support, please contact: Student Services 01522 876000 support@lincolncollege.ac.uk
Fee and Finance for 2013/14 These rates apply to new students for the 2012/13 academic year. The student support package for 2013/14 and future years has not yet been decided and may change for both new and continuing students. Please check the websites below for the most up to date information: www.lincolncollege.ac.uk/he www.direct.gov.uk
Lincoln College Monks Road Lincoln LN2 5HQ www.lincolncollege.ac.uk/he 01522 876000 enquiries@lincolncollege.ac.uk