2016 money guide

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Money GuideInformation for new UK/EU undergraduatesstarting in 2016Version 2

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UNIVERSITY OF LEEDS MONEY GUIDE 2016

Money GuideInformation for new UK/EU undergraduatesstarting in 2016Version 2

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Jargon buster 2

Main costs

Tuition fees 4

Sources of financial support

Government 6

University of Leeds 10

Applying for funding 12

Key dates 14Managing your money 16

Contents www.leeds.ac.uk 1

Contents

Important information

Some of the key information in this brochure remains subject to confirmation. Please

check for the latest information using the websites and other resources referred to

before making any decisions.

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2 UNIVERSITY OF LEEDS MONEY GUIDE 2016

Access to LeedsAccess to Leeds is our widening access

scheme that allows us to identify applicants

who have the potential to succeed at the

University of Leeds, but who may not be

able to demonstrate their talents through

grades alone.

BursaryA bursary is a non-repayable financial grant

awarded to someone who fulfils specific

criteria.

GrantThis is money you receive but do not have

to pay back. Grants are usually incomeassessed.

Household incomeThis is your total household income before

tax and National Insurance minus certain

allowable deductions, which can include

private pension payments and allowances

for other dependent children or students.

IncomeIncome is money that you earn or receive

through loans, grants, etc.

Leeds Financial Support (LFS)This is a financial support package offered

by the University of Leeds to help towards

living costs which does not have to be

repaid. How much you get will depend on

your income and that of your household, asassessed by Student Finance England.

Jargon buster

Living cost loanAlso known as a student loan or

maintenance loan, a living cost loan is

designed to help with living costs such as

course materials, accommodation and food.

It is usually paid directly into your bank

account in three instalments, one at thestart of each term.

LoanThis is money you apply for but need to

pay back.

Means-testThis is when your familys income, or

your income if you are an independentapplicant, is used to assess your loan/grant

entitlement.

OverdraftWhen your bank balance reaches 0.00,

this is money you can access up to an

agreed limit. Typically a student account

has 0% interest within that limit. The loan

must be repaid.

ScholarshipA non-repayable, monetary award that you

can win based on financial circumstances

and other factors. You normally have to

apply for a scholarship.

Tuition feesThis is the money that is paid to the

university to fund your course by eitherthe government or the NHS (depending on

your course).

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Jargon buster www.leeds.ac.uk 3

Amy McCullochMBChB Medicine

Pictured on the Parkinson Steps

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The amount universities charge for tuition

fees increased in 2012. This was due to

changes in the way universities are

funded; government funding was

substantially reduced. However, some

important things have not changed you

can still take out a tuition fee loan fromthe government so you dont have to pay

your tuition fees up front. You do not start

repaying the tuition fee loan until you are

earning a graduate level salary; for 2015

this was 21,000 per year.

Tuition fees

Tuition fees at the University of LeedsThe tuition fee for full-time UK or EU

students coming to Leeds in September

2016 will be 9,000 each year (it is

anticipated that the fee charged at the start

of your study will not increase mid-course).

The 9,000 fee reflects the high quality of aLeeds education.

As a full time* UK or EU student, you will be

able to access a loan from the government

to cover the full cost of the tuition fee with

no up-front payment, provided you have

not already studied a higher education

course. Alternatively, fees can be paid in

instalments or, if you prefer, in full up front.

For UK students studying specific

healthcare courses such as nursing and

midwifery, the tuition fee payment is

covered by NHS funding.

* Student Finance arrangements for students

starting part-time study in 2016 are to be

confirmed by the government. Please check the

website for further information in due course

www.leeds.ac.uk/governmentsupport

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Tuition fees www.leeds.ac.uk 5

What does the tuition fee include?In most cases, the only additional things

that you will have to pay for throughout

your degree are textbooks and printing

your work. We keep the cost of these as

low as possible by providing many books

and materials online and by allowing youto submit work electronically wherever

we can.

There are some exceptions. Where

there are extra costs, they often relate

to travel and subsistence for fieldwork

and placements and additional items for

project work. Contact individual schools or

departments for more detailed information.

Studying abroadStudying abroad is a great way to

experience another culture, make friends,

have fun, and at the same time, develop

skills valued by employers. We have links

with over 300 institutions and actively

encourage exchange programmes to

enable our students to spend time at

universities around the world.

There is a substantially reduced fee for a

year spent studying abroad which can be

covered by the tuition fee loan from the

government, so it will not have to be paid

up front. While studying abroad, you will be

using the facilities of another high-quality

university but you will pay fees to the

University of Leeds, not the host university.

Work placement yearsThere are many advantages to doing a

work placement. You can apply knowledge

acquired in your first two years of study

to a work environment and gain valuable

experience, ultimately making yourself

more attractive to future employers.

There is a substantially reduced fee for a

year spent on a work placement which can

be covered by the tuition fee loan, so it will

not have to be paid up front. The fee covers

set up costs and academic support time.

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There is a range of government financial

support to help you with tuition fees and

the cost of living while you are at university,

but this varies depending on your home

country. Information for part-time students

and students from Northern Ireland, Wales,

Scotland and the EU will be published onour website as it becomes available.

www.leeds.ac.uk/governmentsupport

The support detailed below is for full-time

students from England studying for their

first degree (not funded by the NHS).

Tuition fee loanYou can take out a tuition fee loan to cover

the full cost of your tuition fees. If youare studying a first degree in Medicine

or Dentistry, you are entitled to the same

tuition fee loan for the first four years.

Historically fees for the fifth and subsequent

years have been paid in full by the NHS.*

How the government can help you

Living cost (maintenance) loanYou can apply for a living cost loan, which

will need to be repaid, and the amount you

receive will be dependent on your annual

household income. If you live away from the

family home while you are studying (and

outside of London), the maximum amountof loan you could obtain is 8,200. The

amount increases up to 9,391 for a year

spent studying abroad. If you live at home,

the maximum amount of loan you could

receive is 6,904.

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How the government can help you www.leeds.ac.uk 7

Paying it back**You only repay the combined tuition fee and

living cost loan once you are earning over

21,000 per year.

Because monthly repayments are set

at 9% of earnings above 21,000, yourrepayments are linked to how much you

earn, not how much you owe.

For example, Student A who takes out the

maximum loan value for three years (tuition

fee loan and living cost loan) and earns a

graduate salary of 25,000 will make the

same monthly repayment of 8 as Student

B who only took out the tuition fee loan for

three years.

To calculate what your repayments might

be visit www.studentloanrepayment.co.uk/

scheme/rep/repayment-calculator/sfe

Repayments for full-time students will start

to be taken directly from your salary in the

April after you complete your studies

(provided you are earning above 21,000

per year).

In addition, if you stop earning, or if your

income drops below the repayment

threshold for any reason, your repayments

will cease automatically until your earnings

reach the payment income threshold again.

Any outstanding loan will be written off by

the government after 30 years.

For more information about government

loans visit

www.gov.uk/student-finance

Alternatively, if you live in Northern Ireland,

Scotland or Wales visit

www.studentfinanceni.co.uk

(Northern Ireland)

www.saas.gov.uk(Scotland)

www.studentfinancewales.co.uk

(Wales)

Independent advice is available from the

Money Saving Expert website at

www.moneysavingexpert.com/students

* We anticipate that information regarding NHS

funding will be confirmed by the government in

early 2016.

** This information is based on the repayment terms

for 2015 starters. At the time of publication the

government had not confirmed repayment terms

for 2016 starters.

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NHS fundingFor UK students undertaking a degree

in Nursing, Radiography or Midwifery, NHS

funding is available. Although the finance

package for students beginning courses in

2016 wont be decided until early 2016,

as an example, the finance package forstudents starting in 2015 comprises:

full payment of tuition fees by the NHS

a degree-course bursary based on

income

a non means-tested reduced rate

maintenance loan

a non means-tested grant.

UK students studying towards a degree in

Social Work may also qualify for living costsupport from the NHS after year one.

This is in addition to the funding received

from Student Finance England (or the

equivalent organisation).

For more information about NHS

funding visit

www.nhsbsa.nhs.uk

For more information about the studentsocial work bursary visit

www.nhsbsa.nhs.uk/825.aspx

Funding for disabled studentsStudents from the UK with disabilities

are also eligible to apply for a Disabled

Students Allowance to pay for academic-

related support and equipment. It is not

means tested and where awarded, the

funding is non-repayable.

Our Disability Coordinator Team can provide

you with more information and advice.

Telephone: 0113 343 3927

Textphone: 0113 343 2616

(calls via RNID Typetalk are welcome)

[email protected]

How the government can help you

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How the government can help you www.leeds.ac.uk 9

Kay Mellor and daughter AmyAmy studies BSc Geography

Pictured in the Edward Boyle Library

study area

Learning about the scholarships availablewas important to ensure Amy would beable support herself through university. Ifound advice about the procedures, keydates and deadlines especially useful sincethe application process for student financerequires my direct input as a parent.

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At Leeds we are committed to ensuring that

if you have the talent, drive and potential

to take advantage of a University of Leeds

education, you are encouraged to do so

regardless of your financial background.

We offer comprehensive financial support to

help with the costs of being at University forstudents with annual household incomes

of under 42,600. If your household

income is above this level, you may still

be eligible for funding from us, in the

form of a scholarship related to academic

achievement.

Leeds Financial Support (LFS)Eligibility for Leeds Financial Support is

assessed by Student Finance England (or

the equivalent organisation) when you apply

to the government for means-tested loans

and grants.

If you are eligible, the funding will be

awarded by the University, so you dont

need to apply for this support separately.

You just need to ensure that you agree to

share your information with us when you

complete your online, government funding

application.

How the University of Leeds can help you

We expect that one in three students will

receive funding from us. Eligible students

can choose to receive their Leeds Financial

Support as either a cash sum, a tuition fee

discount or a discount on University-owned

or privately-rented accommodation.

You do not have to repay the support

you get from us.

Students with a household income of

10,000 or below will receive support of up

2,500 a year from the University. Others

will receive support per year depending on

their household income as outlined in the

table below.

For more information on Leeds Financial

Support visit

www.leeds.ac.uk/universitysupport

Summary of Leeds Financial Support 2016*

Household income Award amount

Year 1 and subsequent years

0 - 10,000 2,500

10,001 - 25,000 2,000

25,001 - 30,000 1,500

30,001 - 36,000 1,000

36,001 - 42,600 500

* Information may be subject to change. Please check website for more information


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How the University of Leeds can help you www.leeds.ac.uk 11

University scholarshipsLeeds offers one of the most generous

funding packages in the country which

includes means-tested scholarships worth

up to 3,000 a year for three years for

students with household incomes below

42,620. We also have other scholarshipsavailable which are based solely on your

academic achievement.

Several of our means-tested scholarships

are linked to Access to Leeds (our widening

access scheme) and in these cases,

students progressing to Leeds through this

route are given preferential consideration.

For more information on the Access to

Leeds scheme, including how to apply, visitwww.leeds.ac.uk/A2L

You can apply to be considered for a

means-tested scholarship before you

receive confirmation of your place to study

at the University. When you apply for one

scholarship, well automatically assess

you for any others where youve met the

eligibility criteria and deadline. We cant

consider applications after the relevantdeadline has passed, so remember to

check the closing date and apply in good

time.

Even if you think you may not qualify for

Leeds Financial Support package

(see page 10), you may be eligible for other

sources of funding from us.

More information about scholarships for

2016 entry will be added to our website inAutumn 2015.

www.leeds.ac.uk/scholarships

Muslim studentsFor more information about the relationship

between fees, student loans and Sharia Law

visit

www.leeds.ac.uk/muslimstudents

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You can make your tuition fee and living

cost funding application online from early

2016. You dont need a confirmed place at

a university to complete the application.

To apply you will need the following

information to hand:

your passport (for ID purposes)

university and course details (use your

first choice)

bank details (sort code, account number)

National Insurance number

parents or carers National Insurance

numbers and income details.

Applying for funding

Where you live determines the student

finance organisation to which you should

apply. If you live in England visit

www.gov.uk/apply-for-student-finance

Alternatively, if you live in Northern Ireland,

Scotland or Wales visitwww.studentfinanceni.co.uk

(Northern Ireland)

www.saas.gov.uk

(Scotland)

www.studentfinancewales.co.uk

(Wales)

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Applying for funding www.leeds.ac.uk 13

Ola AkinladeBSc Business Studies and Management

Pictured in the common room at Oxley Halls of Residence

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Key dates 2015

September

2015

UCAS applications open.

Access to Leeds applications open.

www.leeds.ac.uk/A2L

October2015

15 October 2015- UCAS deadline for students applying formedicine, veterinary medicine/science and dentistry courses or to

either Oxford or Cambridge.

November

2015

Start looking at University of Leeds Financial Support.


6 November 2015- Access to Leeds deadline for medicine and

dentistry applications.

December

2015

Start thinking about scholarships.

www.leeds.ac.uk/scholarships

Dont forget to also check the school or departments website for

scholarship information.

Key dates 2016

January

2016

15 January 2016- UCAS deadline for majority of courses.

Start thinking about living costs.

www.leedsuniversityunion.org.uk/helpandadvice/money

February

2016

University of Leeds scholarship application deadlines fall early in the

year so keep an eye on our website.

March

2016

24 March 2016 - UCAS deadline for some art and design courses.

April

2016

May

2016

Apply for your Government funding by the end of May to ensure your

funding is available by the start of term in September.www.leeds.ac.uk/governmentsupport

Key dates


University of Leeds

open days

12 September and

10 October 2015

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Key dates www.leeds.ac.uk 15

NHS Bursaries2 March 2016

Start date to apply for NHS Bursaries

30 April 2016

Deadline for year starting in June 2016

29 May 2016

Deadline for year starting in July 2016

30 June 2016

Deadline for year starting in August 2016

31 July 2016Deadline for year starting in September 2016

21 August 2016

Deadline for non medicine/dentistry courses

31 August 2016

Deadline for year starting in October 2016

June

2016

July

2016

1 July 2016- Application deadline for

guaranteed University of Leeds accommodation.

www.leeds.ac.uk/accommodation

August

2016

21 August 2016- Deadline for NHS Bursaries.

www.nhsbsa.nhs.uk

September

2016

Leeds Financial Support awarded when students arrive at Leeds (this

may take longer to award if income assessment is delayed).

University of Leeds

open days 2016

June, Sept and Oct -

dates announced

soon

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Living costsIn addition to academic fees, all students

must budget for living costs such as

accommodation, food, clothing, books,

travel and entertainment. The cost

of living in Leeds is relatively low by

UK standards and while costs will varydepending on individual lifestyles, we

recommend a living cost budget of 650 -

800 per month.

For more information on accommodation

and living costs visit

www.leedsuniversityunion.org.uk/

helpandadvice/money/costofliving

Open a student bank accountWe recommend you open a student bank

account before you arrive at university so

your funding can be paid into your account

directly. Student accounts often come

with many benefits including interest free

overdraft facilities and various free gifts,

but make sure you do your research and

work out which is best for you. To open a

student account you will need your UCAS

offer letter and your passport to prove

your identity.

The Money Saving Expert website provides

information on the best offers for student

bank accounts, with free and impartial

advice.

www.moneysavingexpert.com/students/

student-bank-account

Managing your money


Getting a part-time jobMany students choose to work part time

and the size of the city means there are lots

of available jobs in Leeds. Working not only

puts money in your pocket, it also helps

you to gain valuable experience.

Youll find plenty of opportunities through

Leeds University Unions Joblink service. All

the employers who advertise with Joblink

meet a code of standards to ensure they

are student friendly. As well as longer term

vacancies, Joblink also supply temporary

staff to University departments and external

companies. Each month there are around

100 jobs advertised through Joblink with

over 700 employers.

0113 380 1444

[email protected]

www.leedsuniversityunion.org.uk/jobs

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Tips for managing your moneyBefore you arrive at university, it is a good

idea to plan your living expenses and

have an idea of your budget so that you can

keep on top of your finances. Many

students find that managing money is a

difficult balancing act, but here are sometips to help you.

Dont spend all your money as soon as

you get it. A spending spree when the

student loan hits your bank account will

mean youll run out of money before the

end of term and you may find yourself

falling into debt.

Sometimes the most useful advice is

also the least exciting, but we wouldrecommend that you work out a budget.

You may find it difficult to budget because

loan payments are made each term and

bills are often due monthly or weekly, but

once you know your income versus your

expenditure, its easier to plan for whats

left while youre at university, or seek help

if theres going to be a shortfall.

Consider setting up two bank accounts;

one to pay the bills and a separateaccount for spending money once all the

bills have been paid.

Be realistic about what you spend your

money on and make sure you budget

for nights out, haircuts, new clothes and

shoes, etc.

Its also good to plan ahead when it

comes to visiting friends or travelling

home for the holidays, as the earlier you

book your travel, the cheaper the fareswill be.

Your first food shop will cost more than

usual, as you may need to stock up on

the basics. But if you plan your meals and

make a shopping list, you wont end up

buying anything unnecessary.

If you dont know how to cook already,

try some practice meals at home, plusthere are loads of student cookbooks

available with cheap and simple recipes

takeaways and eating out are a nice

treat, but the cost quickly mounts up

if you are doing it regularly. Its also a

good idea to talk to other people in your

accommodation about sharing meals and

the cost of buying food.

Many retailers offer a student discount

with an NUS card, but if you are not surejust ask, as many shops will give student

discounts, but may not advertise it.

For more information about managing your

money visit

www.leedsuniversityunion.org.uk/

helpandadvice/money

Managing your money www.leeds.ac.uk 17

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Alternative formats

If you require any of the information contained in this guide in an alternative format

eg Braille, large print or audio, please contact the contact Disabled Students

Assessment and Support.

Telephone: 0113 343 3927

Textphone: 0113 343 2616 (calls via RNID Typetalk are welcome)

[email protected]

Admissions enquiries

t: 0113 343 2336

e: [email protected]

2016 money guide

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