Aim: To explain the application process and ways in which you as parents can

contribute.

The application process has just begun, but what has happened up to this time?:

• We have organised a number of presentations with specialist speakers: Law, Teaching, Apprenticeships.

• We have promoted a number of events; medilink, Oxbridge visit etc.

• Oxbridge Convention.• UCAS convention.

1. Always a good starting point:UCAS!

www.ucas.com/how-it-all-works/parents-and-guardians

The application process and ways in which you as parents can contribute:

The application process and ways in which you as parents can contribute:

2. Talk with your son/daughter about proposed careers.

From the UCAS site I recommend:http://www.ucas.ac.uk/students/couresearch/

a comprehensive online database that includes over 50,000 courses.Also:

UKCourseFinder.com This also has a study interests questionnaire.

Talk to your son/daughter about the results of both of these.

The application process and ways in which you as parents can contribute:

Your son/daughter is currently starting the application process.

3. Read his/her personal statement. Offer advice. Check spelling!

Guidance on and exemplars of personal statements are available on the Sixth Form Frog page. I have included a basic but effective writing frame with the copy of this presentation.

The application process and ways in which you as parents can contribute:

4. Encourage your son/daughter to complete the UCAS application, personal statement etc. early on. Application can start to be sent off in September.

• I encourage students to complete applications by November at the latest; though the final date is in January.

• Students applying for Medicine, Dentistry, Veterinary Science and Oxbridge, must complete the process by 15th October.

Choosing the right university and ways in which you as parents can contribute:

1.If possible, attend university open days with your son/daughter. Work together on the key questions that need to be asked.

• Try to limit your visits if they occur during the working week. Missing too many lessons is counter-productive.

Choosing a UniversityOnce the application has been sent to UCAS, within about a week, the

student will be given a code to use to track offers. Through TRACKING they make their choice of university.

When you make your first choice of university you are entering a contract with that university! Should you change your mind, you will need to contact your first choice university and seek their permission to accept a course elsewhere.

Your reserve university should be one requesting lower grades/points.When making a decision, think about:

Bursaries, scholarships and business funding available. Student life and facilities in the a. City/town b. University i.e.

parking

Availability of accommodation a. on campus b. off campus.Catered or self catered accommodationAccommodation costsThe overall expense of living in the area.Distance from home and transport issues.Campus or off campus life.The actual course offered and your own interests. How the course will be

assessed etc. How many students places on each course are there?

Choosing the right university and ways in which you as parents can contribute:

2. Please do use our FROG resources i.e.:

Look up The Times/Guardian tables in terms of:• Quality of teaching www.guardian.co.uk/education/universityguide

• Value added, Also look up: • Job prospects, www.qaa.ac.uk• Reputation.

http://unistats.direct.gov.uk/

• Most of all, discuss the content of research in order to advise and support your son/daughter.

• Student questionnaire: www.ukcoursefinder.com/

University of Birmingham A2B• To apply for the scheme, students must be from a state

school or college that has signed up to the A2B scheme with the Outreach Office at the University of Birmingham and meet one or more of the following criteria:

• Students are from a family with little or no experience of higher education

• The main income earners in the family are not in professional occupations, i.e. not teachers, doctors, solicitors

• The school or college students come from does not have a high rate of progression to university

• Teachers recommend the student to apply via the A2B route because there has been significant disruption to the student’s education due to personal circumstances.

The application ProcessJune-September:Start the Application process.Research courses.Oxbridge support (also medicine etc.).Final confirmation of any work experience for the Summer.

September-November: Ask for subject references and chase them up.Work on the personal statement. Revise it several times

and hand it to your Form Tutor for checking.When the personal statement is completed, see me and I

will advise on any further changes.Complete the UCAS application. Pay for it online and then

see me to check through the application and talk through the reference.

If all is well, I send the application off.Within a week of this, students are sent a tracking number.

The application ProcessNovember-AprilTrack your offers and when they are all received,

make your choices and confirm these with UCAS via the internet.

• From February UCAS Extra: Allows an extra university application if a student does not have any course offers or has declined all of their offers

August• The Clearing process.

Recent changes to UCAS

• Cost of £23 paid online by card when the application is completed.

• The Adjustment period has been introduced to allow students who meet and exceed the conditions of their first choice offer to research alternative.

• Students will have up to five calendar days from the time their place was confirmed, to research places more appropriate to their performance.

Questions:What are the benefits of a gap year?

Information on gap years:Worldwide Volunteering

www.wwv.org.uk

Deferring for a year?

• Art and design foundation courses• Many students complete a one-year art foundation

course after Year 12/13 studies to help them progress to higher education.

• Applications for art foundation courses should be made direct to the university or college in which you are interested (the institution will supply its own application form).

• Art foundation courses are classified as further education so students taking the course are not eligible for a student loan. However, no tuition fees are charged to home and EU students under 19 years of age at courses run by a local authority

• Foundation Art and Design ranges from 165 for a pass to 285 for a distinction

• Foundation degrees are a work-related higher education qualification. A full-time Art And Design Fda foundation degree course generally takes two years to complete while a part time Art And Design Fda foundation degree takes three to four years.

The Government estimates that each year at university costs

Wait for it:

£7000+ for living expenses. Then add tuition fees.

£7000 Per Year + Tuition Fees

Parents you can respond to this in 3 ways:

1. Fund the costs of a three year course.

2. Allow your son/daughter to build up a loan which will support their three years of study.

3. Partially fund costs; parental funding + loans.

My aims for this first part of the presentation

1. To encourage you to consider which of the 3 choices available is the one for you and your son/daughter. You have probably been doing some of this thinking already!

2. To explain (simply) the nature of the grants/loans system now available.

3. To open up other possible avenues for seeking financial support.

Tuition Fees (loan)

For 2013 up to £9000 per year tuition fees

Most of the 120 Higher Education institutions in England are charging the full amount.

You are able to study first and pay back later when earning.

Student Maintenance Loan for living costsThe maximum living cost or maintenance loan for students

starting in 2013 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 homeYou will be able to apply for 65% of the maximum Maintenance Loan without your household income being taken into account.Thresholds between £25000-£42600. 35% means tested portion.Household income below £25000=Receives partial loan and full grant.Paid to the student directly in 3 instalments.

You only start repaying your loan (from loan and fees) after you are earning £21000 per year.Interest on your loan will be applied at inflation (RPI – Retail Price Index) plus 3% while you are studying, and up until the April after you leave university.

From the April after you leave university or college, if you are earning below £21,000, interest will be applied at the rate of RPI.

The £21,000 earning threshold will be uprated annually in line with earnings from April 2016.

For graduates earning between £21,000 and £41,000, interest will be applied between RPI and RPI + 3% on a gradual scale depending on income.

For graduates earning above £41,000, interest will be applied at RPI + 3%.

After 30 years any outstanding balance is written off.

Example?I will be starting a degree in Physics next year.

I will rack up will be around £40000 in debt over 3 yearsand paying back RPI (Example: 5.3%) + 3% on the sliding scale.

That would work out at somewhere below £3320 interest in the first year.

Cancelled after 30 years from the end of your degree!

Martin Lewis website:• Should I pay off my student loan?

Many student's with spare cash who

can afford to clear the debt or overpay

ask this question, but in short for most

student's the answer is....No, No and No!

Income each year before

Tax

Approximate monthly repayment

Previous:25 Years

Now:30 Years

£15000 £0 £0

£18000 £23 £0

£21000 £45 £0

£25000 £60 £30

£30000 £113 £66

£40000 £188 £142 =9% of income above £21000

Salary Amount of salary from which 9% will be deducted

Monthly repayment

£25,000 £4,000 £30

£40,000 £19000 £142

£45,000 £24,000 £180

£50,000 £29,000 £217.50

£55,000 £29,000 £255

£60,000 £39,000 £292.50

Think of it as a graduate tax rather than a loan!

• Unlikely to pay off the total loan via repayments.

• Thus if your University fee is £9000 rather than £6000, it makes little difference. You are still paying the same back

in repayment!!!

The next slide presumes:

£39000 loan. 3% inflation.

Graduate earnings at 2% inflation per year.

Starting salary 2015

Salary in 30 years

Total amount repaid

Will I fully repay it?

£15000 £62000 Nothing NO

£20000 £82000 £14000 NO

£21000 £86000 £20000 NO

£25000 £103000 £43000 NO

£30000 £123000 £73000 NO

£35000 £144000 £103000 NO

£40000 £165000 £107000 YES- 27 Years

£45000 £185000 £89000 YES- 23 Years

£50000 £206000 £78000 YES- 18 years

Graduate Tax? Key points?

• The amount repaid increases with earnings.

• It does not go on credit files!• Debt Collectors will not chase for it!• Bigger borrowing does not increase

repayment!• Should not affect availability of a

mortgage!

Maintenance grants

£3,250 for 2013.

You get the maximum Maintenance Grant if your household income is under £25,000.

You are entitled to a partial grant if your household income is between £25,000 and £42,600.

If you receive a Maintenance Grant your Maintenance Loan may be reduced.

HouseholdIncome2013

Non-repayableGrant

Living cost loan Total

Total

£25,000 or less £3,354 £3,823 £7,177

£30,000 £2,416 £4,293 £6,706

£35,000 £1,478 £4,761 £6,293

£40,000 (£42,600 max.)

£540 £5,230 £5,770

£50,000 £0 £4,788 £4,788

£60,000 £0 £3,788 £3,788

Over £62,500 £0 £3,575 £3,575

Bursaries and ScholarshipsUniversities charging full tuition fees have to offer a bursary worth at least £375 if the student received the full maintenance grant.Many bursaries are linked to ‘A’ level grades- ‘A’ grades can mean money!

Swansea: £3000 (over 2 years) scholarship for students with AAA!

From 2012/13 there will be a new £150m National Scholarship Programme to help students from lower income families. This may include reduced tuition fees or a free year on some courses. Each university will decide what support they will offer so you will need to check to see what your chosen university is offering and whether you are eligible. Household incomes over £25000 will not be eligible for the national scholarship programme!

Access to Learning Funds are also available at universities once you are there - they do not want students to leave because of financial issues. These are assessed on an individual basisCompanies do provide scholarships. It is a matter of looking around for what is out there.http://www.everythingyouwantedtoknow.com This looks at Sponsorship, Placements and Graduate opportunities.

In summary:

Tuition fees (loan)+Maintenance loan +Maintenance grant (non repayable)+Bursaries+Scholarships+DFES support-Adult Dependant Grant/Parents Learning Allowance/Childcare Grant/Disabled Students AllowanceAccess to Learning Funds

Deloitte Scholars                                                          

What might it all add up to?The University of Warwick as an

example:£9000 tuition fee.

Accommodation typically around £3000+ per year.

Living expenses? £3000+ per year.

Total at least £15000.

Look up www.ucas.com ‘Search for funding’ for data on how much each university is charging.

Case study A

Student A has a household income of £65000 pa. Living outside of London and away from home.Student A should receive:Tuition fees £9000

Maintenance loan £3575 (£5500 max)Maintenance grant £0 non repayableTotal contribution to living costs: £ 3575

Total repayable £12575

Case study BStudent B has a household income of £30000 pa. Living outside of London and away from home.

Student B should receive:Tuition fees £9000

Maintenance loan UP to £4330.Maintenance grant Partial grant of

£2341 (white paper June 2011)

Total contribution to living costs: £6671

Total repayable £13330

Other points

Loan applications become available in February/ March and we invite an advisor to speak to students and parents at this time.Financial support is assessed on earnings for the year before; so for 2013 applications the income assessed is that of 2010/11! Where is your paperwork?For 2013, deadlines were as follows:

Income and non income assess support by 31st May.

Contact http://www.direct.gov.uk student finance, for queries, booklets, on-line applications.

www.practitioners.studentfinanceengland.co.uk

Other pointsEnsure that your son/daughter is with a student friendly bank. There are lots of freebies out there, and of course should an overdraft be needed….!

xxxxBank: Overdraft facility/Credit card/Free travel insurance at end of first year etc.

When visiting universities ask what bursaries are available. What are the costs of accommodation?

London costs are now an even more serious issue!

Even if you can pay for your son/daughter’s fees and living costs, a loan at the R.P.I. +3% can be an attractive one!

Is university education worth it?

• Graduates are able to choose from a wider range of professions and are more likely to start at a higher level or progress faster within a company than a non-graduate. According the 2011/12 Destination of Leavers from Higher Education (DLHE) survey, the average starting salary for graduates six months after graduation was £20,440, although this can rise to an average of £29,000 for those joining large graduate recruitment schemes. Currently, those with degrees earn an average of £12,600 per year more than non-graduates.