Student Finance

Tim Pilkington

Higher Education Adviser

Introduction

What university will cost

Financial support available

How to apply

UEA Square

Cost of courses - £6,000 - £9,000 / year

Fees don’t have to be paid before or during the course!

Fee loan available to full time students, paid directly to the university

£21,000 repayment threshold

Repayments linked to what you earn not what you owe

Apply through Student Finance England

Tuition Fees

Nursing; Midwifery; Physiotherapy; Occupational Therapy; Speech and

Language Therapy – pay NO FEES

Non-means tested Grant from NHS - £1,000

Means tested Bursary from NHS

Reduced rate Living Cost Loan

Medicine and Dentistry courses – final year funded by NHS

Social Work

www.nhsbsa.nhs.uk/students

NHS courses

Living costs – books, accommodation

65% of loan for everyone (35% is means tested

Paid in 3 installments (direct to student)

Repayable (£21,000)

Apply through Student Finance England

Living Cost Loan

Parental home £4,375

London £7,675

Elsewhere £5,500

Living Cost Grant

Non-repayable grant (Living cost grant):

Household income Grant available

< £25,000 £3,250

£25,000 - £42,611 Part of £3,250

> £42,611 No grant

Apply for grant through Student Finance England

University support: Bursaries

Bursaries – dependent on household income

Non-repayable

Criteria Support Duration

Household income less than £16,000

£3,000 per annum for up to four years* of undergraduate study.

Household income £16,001 to £20,000

£2,000 per annum for up to four years* of undergraduate study.

Household income £20,001 to £25,000

£1,000 per annum for up to four years* of undergraduate study.

Science Foundation Year household income less than £42,611

£4,500 Foundation Year only.

Care Leaver £3,000 per annum for up to four years* of undergraduate study.

* This includes any support that may be given for a Foundation Year.

University support: Scholarships

Based on academic achievement

Non-repayable

Scholarship Criteria Value

Entry Scholarship Awarded to students who achieve AAA at A level (excluding General Studies) or equivalent.

£1,500 one off payment

Excellence Award Excellent academic achievement during undergraduate study. Students are considered for award at the end of each academic year based on their end of year results.

£1,000 one off payment.

University support: Scholarships

Subject specific scholarships

Subject specific Scholarships Criteria Value

American studies - Arthur Miller scholarship Top A level grades & who study abroad £1000 paid at end of 2nd yr

Chemistry scholarship £2000Choose UEA as firm (prior to clearing), A in A2 chemistry plus AB

£2000 One off payment

Chemistry scholarship £1000Choose UEA as firm (prior to clearing), A in A2 chemistry plus BB

£1000 One off payment

Panasonic scholarship AAA - Science subjects only £1000 / pa (1 award)

Undergraduate Student Scholarships - Norwich Business School

Grade A achieved at A2 level or equivalent including IB HL 6 or BTEC Distinction

£500 per A grade, one off payment

What you may be eligible for

Household income Living Cost Grant Living Cost Loan Total

£25,000 or less £3,250 £3,875 £7,125

£30,000 £2,341 £4,330 £6,671

£35,000 £1,432 £4,784 £6,216

£40,000 £523 £5,239 £5,762

£45,000 £0 £5,288 £5,288

£50,000 £0 £4,788 £4,788

£55,000 £0 £4,288 £4,288

£60,000 £0 £3,788 £3,788

Over £62,500 £0 £3,575 £3,575

How to apply – Student Finance England

Tuition Fee Loan, Living Cost Loan, Living Cost Grant

Apply online – www.gov.uk/student-finance

Apply in the Spring of the year you go to university

Need NI number, bank details, income & course information

Deadline to submit

Fewer screens – list of eliminating questions

Enhanced student finance calculator

How to apply

Making repayments

Salary Interest rate

Less than £21,000 RPI (Retail Price Index)

Between £21,000 - £41,000 Between RPI and RPI plus 3%

Over £41,000 RPI plus 3%

During course you will be charged RPI plus 3%

An example

A student finishes their degree in July 2016

Their salary is £25,000, so they earn £4,000 in excess of £21,000

Their repayments are calculated at £30 per month (9% of £4,000/12)

From April 2017 £30 is deducted from the graduates’ wages via PAYE

Interest rates:

Repayment system

Income each year before tax

Approximate monthly repayment

Previous – 2011 system Current – 2012 system

£15,000 £0 £0

£16,000 £8 £0

£18,000 £23 £0

£21,000 £45 £0

£24,000 £68 £23

£27,000 £90 £45

£30,000 £113 £68

£33,000 £135 £90

£36,000 £158 £113

£40,000 £188 £143

More information

www.gov.uk/studentfinance

www.nhsbsa.nhs.uk/students

www.uea.ac.uk/finance

UEA accommodation

Additional income

Part time work – over 40% have term time jobs

Holiday work – 90% of students work in holidays

University job shops

Work related to course/career

UEA bar

Any questions?

OPEN DAYS 2013:

22 June 5 July 14 September

www.uea.ac.uk

www.facebook.com/studyatuea

3rd in the Times Higher Education Student Experience Survey 2011World top 150, European top 100, UK top 20 (Guardian League Table 2012)