Spending, saving and earning loads of money The inside guide to student finance in Higher Education

1
Spending, saving and earning loads of moneyThe
inside guide to student finance in Higher
Education
2
What will I have to pay, and what help will I
get?Tuition Fees, Student Loans, Grants and
Bursaries in 2008/9
3
Tuition Fees
Up to 3,145 per year at Universities - many
are charging the full 3,145
Less at many Colleges and Unis offering HNDs and
Foundation Degrees - some are charging 2,000
or less
4
Paying Fees
Student Loan for Tuition Fees available to all
regardless of family income
If you take out a student fee loan the money
goes directly to the university to pay the fees,
so that neither you nor your family has to.
Students repay after university when their income
is more than 15,000
5
Maintenance Grant
You can get up to 2,835 which is yours to keep
you dont pay it back
Dependant on Household (usually parental)
Income - Full Grant if 25,000 or less -
Partial Grant if between 25,001 and 60,005 -
No Grant if over 60,005
6
Student Loan for Maintenance

Amount you get depends on - where you study
and live - your parents (or household) income
(for 25) - how much Maintenance Grant you get
7
Student Loan for Maintenance
Repay after university when you earn over
15,000 - 5.19 a week if you earn 18,000 -
17.30 a week if you earn 25,000
You can have the Maintenance Loan as well as the
Loan for Fees
Interest rate on student loans is linked to
inflation 4.8 in 2007/8
8
Bursaries
If a university charges 3,145 tuition fees, it
must give bursary of at least 310 to students
qualifying for the full Maintenance Grant
Many will offer more, each university Bursary
scheme is different
Bursaries are yours to keep like the Maintenance
Grant you dont pay them back
9
Bursaries
Aston 800 for family income below 18,000 Some
bursary up to 39,305 1000 for placement year
University of Birmingham 840 for income
34,600 or less 1260 for AAB at A level if
income is below 34,600 Subject based
scholarships average 1,000
Birmingham City University 525 for income up to
25,000 485 - 245 between 25,000 and
60,000 For students who get part or full
Maintenance grant
Local examples, amounts are per year
Staffordshire 1000 for income below 20,817,
850 below 25,521 500 up to 30,801 Less for
HND and Foundation Degrees
Wolverhampton 500 for income up to 25,000, 300
up to 35,000, 1,000 in year 1 for regional
students who have taken part in 15 hours of
Aimhigher type activities
10
Bursaries
You must research and find out which is the best
deal for you

• The University of Lancaster
• 1,315 (family income less than 18,360)
• 500 (family income between 18,360 - 27,800

National examples, amounts are per year

• The University of Kent
• 1,000 (family income 25,000 or less), 750
  up to 28,500, 500 to 34,000, 250 to 40,000

The University of Bradford Family income up to
40,000 500 in year 1 of course, 700 in year
2, 900 in year 3 Family income 40,001
- 60,005 400 in year 1, 500 in year 2, 600
in year 3
11
Other Sources of Funding

• The Access to Learning Fund
• If you can demonstrate you are experiencing real
  financial hardship
• Administered by individual universities

• Specific Grants (non-repayable yours to keep)
• Disabled Student Allowance, Adult Dependants
  Grant, Childcare Grant, Parents Learning
  Allowance, and more

• Department of Health Courses
• Fees paid by the NHS for bursaried courses

12
If you dont remember anything else
You can earn a lot more money with a higher
qualification
And get a more enjoyable job
There is a great deal of government support
available
You must shop around to check out different
bursary levels
Useful websiteswww.aimhigher.ac.ukwww.direct.go
v.uk/studentfinancewww.bursarymap/direct.gov.uk

Dont Stop Aimhigher