Money Matters. Student Finance. Tel Web A guide for students and their families 2013/14

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1 Money Matters Student Finance A guide for students and their families 2013/14 Tel Web

2 Contents Introduction... 3 General Notes... 4 Tuition Fees... 5 Full-time Undergraduate... 5 Part-time Undergraduate... 5 Postgraduate... 5 Living Costs Support for Full-time Students (Undergraduates)... 6 Maintenance Loan... 6 Maintenance Grant / Special Support Grant... 7 Additional Allowances... 7 Parents Learning Allowance Adult Dependants Grant Childcare Grant Support for NHS Funded Courses... 8 Social Work Bursaries... 9 Repaying Loans from Student Finance England (SFE) Other Support for Students Disabled Students Allowance UCLan Advantage Student Financial Support Team Access to Learning Fund Harris Bursary Benefits Support for Postgraduates Teacher Training Social Work Other Postgraduate Courses Budgeting Opening a Bank Account Useful Contacts at UCLan Money Matters

3 Introduction Entering into Higher Education can seem like a costly and daunting business for students and their families and it is important to give careful consideration to all aspects of University life when making the decision. In 2012 the Government introduced major changes to Higher Education and the way in which students and Universities are funded. One of the main changes was to the tuition fees Universities charge and the financial support in place to help students access higher education. There are two main costs you will need to think about when coming to study; the cost of tuition, and the cost of living (or maintenance costs) for things like accommodation, food etc. The purpose of this booklet is to give you information about what costs are involved when coming to University, explain what support is available and give advice about how to manage your money. It will also outline the help available from UCLan. Higher Education remains the best way to ensure a better future for individuals and employers. Consider it an investment in your future, as well as being an exciting and challenging time in your life. I look forward to seeing many of you studying and enjoying life at UCLan in the near future. Alison Blackburn Director of Student and Academic Support Service Money Matters 3

4 General Notes The information given in this booklet provides general information and guidance. If you have any specific questions, please don t hesitate to contact the Student Financial Support Team. The Tuition Fees you will be charged and the support available will depend on factors such as what course you are studying, whether you are full or part-time, whether you have studied at Higher Education level before and where you are from. How do I find out what my Tuition Fees are? Most full-time undergraduate courses based on the UCLan Preston Campus will be charged 9,000 per year. Certain courses, for example Foundation Entry level courses and courses based at the Burnley Campus or partner colleges may be less. Fees for part-time and or postgraduate courses can also vary. Details about tuition fees can be found on the UCLan website ( or contact the Tuition Fee Team What support can I get? Information for full-time undergraduate students in the Support for Full-Time Students section outlines support for students from England. Support for students from other UK countries differs from the arrangements for English students and information about the respective funding bodies can be found at the following: Wales: Scotland: Northern Ireland: If you are from one of the UK Islands you should contact your relevant funding authority for information about funding. EU Students: International Students: Further information about what other support is available is detailed in the other sections of the booklet. I have been in Higher Education before. How does this affect me? If you have studied at Higher Education level previously, it may affect what funding you are entitled to. Depending on your circumstances, for example if you already hold an honours degree, or if you have not completed previous years, you may not be entitled to some of the funding for your course. Rules around previous study and student funding are complex. You can discuss your situation with the Student Financial Support team here at UCLan or contact Student Finance England. The final decision with regard to your eligibility will be made by Student Finance England. What happens if I withdraw from or suspend my course? If you decide you cannot continue with your course at any point during the year, depending on the reasons, you may decide to suspend (or intercalate), which means you take time out of your studies for an agreed period of time. Alternatively, you may decide to withdraw from your programme of study completely. The University will still expect you to pay Tuition Fees for the period you have studied up to that point and the amount you will be charged will depend on when you decide to leave the course. If you get a Tuition Fee Loan from Student Finance England this may still be paid to the University to cover the fees you have been charged and you will be liable for the repayments. In terms of other finance you could be entitled to, this will depend on whether you have suspended or withdrawn from your course. If you withdraw, you will not be entitled for Student Finance from that date and may be asked to repay any grants / loans you have been paid in advance for the period after you withdraw. If you have been suspended from your course, the type of funding you may be entitled to will depend on your circumstances and the reasons for the suspension. Because this is a complex area, we would recommend you seek advice from the Students Union Advice Centre about your options. There is a team called Fresh Start at UCLan who can advise you of your options if you are thinking about leaving your course. Their contact details are Throughout your time at UCLan, you will have access to a personal academic tutor to guide you through the intellectual challenges of your degree. They will offer ongoing support to help you get the most out of your course, from your research to your lecture timetable. If you need to speak to the Tuition Fees Team about what fees you will be charged if you leave the course, their contact details are 4 Money Matters

5 Tuition Fees Most students who are studying at undergraduate level can apply for loans to pay for their Tuition Fees. What is a Tuition Fee Loan? A Tuition Fee Loan is a non-means tested loan which you can apply for through Student Finance England. The loan is paid direct to the University and does not have to be repaid until you have finished studying and are earning over 21,000 per year. If you are not from England, you will need to apply for help with your Tuition Fees from the relevant funding body (detailed in General Notes section). Who can apply for a Tuition Fee Loan? Full and Part-time undergraduate home students and undergraduate EU students are eligible to apply for a Tuition Fee Loan. If you have previously studied at Higher Education level you should check with Student Finance England how this may affect your entitlement. Special arrangements are in place for certain courses, for example Graduate Entry Dentistry, whereby students can access a Tuition Fee Loan of up to 5,535 for each year of their course.* How do I apply for a Tuition Fee Loan? You can apply for a Tuition Fee Loan online at If you are a full-time student you can apply for your maintenance funding at the same time. You can normally start applying for funding from January 2013 onwards. What about repaying the loan? Please see the Repaying Loans from Student Finance England (SFE) section I am on an NHS Course, do I need a Tuition Fee Loan? For most undergraduate NHS courses, the NHS will pay for your Tuition Fees. Courses included in this are the BSc Nursing, Midwifery, Operating Department Practice (ODP) and Physiotherapy. Students on the 4 year Graduate Entry BDS Dentistry will have to pay the first 3465*of the 9000 fee themselves in the 1st year of study. The NHS will then pay up to 3465* for years 2, 3 and 4. Tuition Fee Loans are available from Student Finance England to top-up the rest in each year. Students on the DipHE Paramedic Practice Course will have their Fees paid by the NHS Northwest Ambulance Service, but will access their maintenance (living costs) funding through Student Finance England. I am a postgraduate student. Can I get help with my Tuition Fees? Some postgraduate courses enable students to access Tuition Fee loan assistance, for example the PCGE course. However, you cannot get a Tuition Fee Loan for most postgraduate courses. Further details about postgraduate funding can be found in the Support for Postgraduates section. For 2013/14 entry a 1,000 discount is available to students progressing from a previous UCLan award, studying full time and paying standard or higher rate fees. Part-time postgraduate students will receive a 20% reduction in the tuition fee if progressing from a previous UCLan award. For full details about fee charges and discounts, please contact the Tuition Fee Team I will be paying the Tuition Fees myself. Who do I contact? If you decide to pay your own fees, or are not eligible for loans or grants as detailed elsewhere in this booklet, you can make your payment as part of the on-line enrolment process and you don t have to wait for your invoice. The process will guide you further on how much and how to pay. If you are enrolling on campus, the Cashier s Office in Adelphi Building is open from 9.30am until 4pm Monday to Friday. After induction week payment can be made as follows: w On the internet at: w By cash, cheque, credit (MasterCard, American Express or Visa) or debit card in person by visiting the Cashiers Office in Adelphi building between 9.30am and 4.00pm. w Card payments will be accepted between 9.00am and 5.00pm by telephone on or w Cheques made payable to the University of Central Lancashire will also be accepted through the post addressed to Financial Services, University of Central Lancashire, Preston PR1 2HE. Please write your student number on the back of the cheque. If you are thinking about requesting an instalment plan, or are having difficulties in paying your fees you should discuss your options with Customer Accounts. Their contact details are as follows: Telephone Customer Accounts on: or Website: * Figures for , amounts may change from , subject to inflation. Money Matters 5

6 Living Costs Support for Full-time Students (undergraduates) The maintenance or living costs support available for full-time (non-nhs) undergraduate students who apply through Student Finance England comes in the form of loans and possibly grants. The amount of support students can receive depends on their individual circumstances. Maintenance Loan for living costs Maintenance Loans help with your living costs such as accommodation, food, clothes, travel and so on. The amount you receive is based on your circumstances, such as where you live during term time and what your household income is (i.e. your parent s / partner s / your income). In 2013/14 students living away from their parents home may be entitled to a loan of up to 5,500, whereas students who live with their parents may be entitled to a loan up to a maximum of 4,375. However, if you are entitled to any amount of Maintenance Grant then your Maintenance Loan entitlement will be reduced. How this works is demonstrated in the table in the Maintenance Grant section below. All students who qualify for SFE funding can receive at least 65% of the loan, regardless of income, as this is non-means tested. The Student Loans Company (SLC) will usually pay your Maintenance Loan in three instalments - one at the start of each term. They will make payments straight into your bank or building society account. If you take a year out on placement, depending on the type of placement, the amount of Maintenance Loan you could be entitled to may be reduced. The amount of Maintenance Loan is also reduced in the final year of study. If you undertake a year of study abroad you may be entitled to an increased rate of loan. Full details about the different rates of loans can be found at Repaying the loan is explained in the Tuition Fees section of the booklet. If you take out a Tuition Fee Loan and Maintenance Loan the total is combined into one Student Loan for repayment purposes. Maintenance Grant In 2013/14 the maximum Maintenance Grant is 3,354 if the household income is 25,000 or less. If your household income is higher than this you could receive some Maintenance Grant, providing your household income does not exceed 42,600. For every pound of Maintenance Grant a student is entitled to, there is a reduction made to the Maintenance Loan for living costs of See below table of examples: Example for students living elsewhere (the amount of Maintenance Loan for students living in the parental home will be less.) Household Income Maintenance Grant Maintenance Loan Total 25,000 or less 3,354 3,823 7,177 30,000 2,416 4,292 6,708 35,000 1,478 4,761 6,239 40, ,230 5,770 42, (minimum grant) 5,475 5,525 42, ,500 (maximum loan) 5,500 45, ,288 5,288 50, ,788 4,788 55, ,288 4,288 60, ,788 3,788 Over 62, ,575 3,575 6 Money Matters

7 Living Costs Support for Full-time Students (undergraduates) Special Support Grant If eligible, you may receive the Special Support Grant (SSG) instead of the Maintenance Grant. The qualifying household income thresholds and the amount of SSG which you may be eligible to receive are exactly the same as the Maintenance Grant for living costs highlighted above, a maximum of up to 3,354. However, if you are eligible to receive the SSG, there is no reduction in your loan entitlement and the SSG should not be counted as income if you claim means-tested benefits*. You could be eligible for a Special Support Grant if you: w are a lone (single) parent; w have a partner who is also a student and one or both of you are responsible for a child or young person under 20 who is in full-time education below higher education level; w have a disability and qualify for the Disability Premium or Severe Disability Premium; w are deaf and qualify for Disabled Students Allowances; w have been treated as incapable of work for at least 28 weeks; w have a disability and qualify for income-related Employment and Support Allowance; w are from outside the UK and are entitled to an Income Support Urgent Cases Payment because you are temporarily without any money for up to six weeks; w are waiting to go back to a course having taken agreed time out from that course due to an illness Please note: It has not been decided at the time of going to print how this would affect students on the new Universal Credits scheme, due to be phased in from October Additional Allowances and Grants from SFE Some students may be eligible for additional mean-tested support if they have dependent adults or children. These are grants, which do not have to be repaid. However the amount you could receive will depend on your circumstances and your household income. Parents Learning Allowance * Students who are studying full-time with dependent children are eligible to apply for the Parents Learning Allowance (PLA). You could receive up to 1,508 a year to help with course related costs. You are assessed for the PLA alongside your application for Tuition fee and living costs support. Adult Dependants Grant * You can apply for the Adult Dependants Grant (ADG) if you have a partner or another adult, usually a member of your family (but not any of your children), who depends on you financially. You could receive up to 2,642 a year. You are assessed for the ADG alongside your application for Tuition fee and living costs support from SFE. Childcare Grant * Full-time students with dependent children in registered or approved childcare are eligible to apply for the Childcare Grant (CCG). Up to 85% of your actual childcare costs ( a week for one child and up to 255 a week for two or more children). You cannot claim the Childcare Grant if you are claiming the Childcare element of Working Tax Credits. * The rates given are 2012/13 as amounts for 2013/14 were unavailable at the time of going to print. Further information is available at co.uk or How do I apply for Maintenance Support? You can apply for a Maintenance Support and additional allowances online at You can apply for your Tuition Fee Loan at the same time. Online applications can be made from around January / February of the year before you start your course, and it is recommended that you complete the application before the end of May, to ensure your funding is in place when your course commences. If you are applying for the Childcare Grant, you will need to apply for your full-time funding and additional allowances, but will also need to submit a separate form called a CCG1 form which you and your childcare provider should complete. If you tick that you want to apply for the Childcare Grant with your application, SFE will send you a form. This form and full details about the Childcare Grant are also available to request or download at childcare-grant/overview What if my circumstances change? During your time as a student you may experience a change in your circumstances. To inform Student Finance England of these changes, log into your online account and complete the Change of Circumstances section. You may need to contact the University for us to confirm these changes on your behalf, if for example it includes a change of course. If this change in circumstances involves you having had a child or living with a partner who is financially dependent on you, you may find you are entitled to additional allowances. You may also find it beneficial to seek some independent advice from our Students Union Advice Centre ( or Money Matters 7

8 Living Costs Support for Full-time NHS Students (undergraduates) The NHS provides bursaries and fee support for a number of courses offered at UCLan. In most cases the Tuition Fees are paid in full by the NHS, with some exceptions. Support for NHS funded courses NHS Bursary Scheme From September 2012 the package of support will provide students with a small non-means tested grant, a means tested bursary and a reduced rate non-mean-tested loan. The loan will be provided by Student Finance England. Different rates of means tested bursary and loan will apply according to where a student lives, whether or not they live with their parents, and how many weeks of study per year your course involves. What does this mean? This means that a healthcare student on an eligible course of 45 weeks in duration and studying outside London could receive a non-means tested grant of 1,000, a means tested bursary of up to 4,395 and a non-means tested loan of up to 2,324. Available support The following tables show typical support available to students on both 30 week (e.g. Physiotherapy) and 45 week courses (e.g. Nursing, Midwifery, ODP, Dentistry). For students studying up to 30 weeks each year, you will receive If you will be studying and living: Non-means tested grant Means tested bursary (max.) Non-means tested living cost loan Living in student/rented accommodation/your own home 1,000 2,591 2,324 Living with your parents 1,000 2,163 1,744 For students studying up to 45 weeks each year, you will receive If you will be studying and living: Non-means tested grant Means tested bursary (max.) Non-means tested living cost loan Living in student/rented accommodation/your own home 1,000 4, Living with your parents 1,000 3,351 1,744 8 Money Matters

9 Living Costs Support for Full-time NHS Students (undergraduates) The Living Cost Loan and Additional Allowances The living cost loan is reduced in the final year of study to 1,811 for students living away from their parents and 1,324 for students who live with their parents whilst studying. In addition to the basic bursary, students can apply for a number of additional allowances if they meet specific criteria. These allowances provide support to disabled students and additional support for students with dependent adults and children. The amount of allowances for dependent adults and/or children a student can receive will depend on household income. NHS Additional Allowances (actual amount will be based on household income) Examples of Additional Allowances Dependants Allowance spouse or first child Dependants Allowance each additional child Parents Learning allowance Initial expenses Childcare grant first child Childcare grant two + children Amount up to a maximum 2,400* 539* 1,180* 55* 85% of cost up to a max of per week* 85% of cost up to a max of per week* *2012 rates as 2013 unavailable at the time of going to print Assistance with Travel Costs Students can also claim help with travel costs to their placements, if they incur additional costs to those incurred when travelling to their university. Tuition Fees The tuition fee costs for specific courses are paid directly by the NHS so eligible students are not required to pay tuition fees. (NB Students on the Graduate Entry Dentistry programme will need to apply for a Tuition Fee loan to cover the difference between the amount the NHS will pay and the 9,000 the University will charge in 2013). For more information visit the NHS website where there is an online bursary calculator. You will be contacted by the NHS via to invite you to apply online for your Bursary. Information is also available from where you can apply online for your student loan from Student Finance England. Social Work Bursaries (Undergraduate BA(Hons) Social Work) Note: If you are studying on the Postgraduate MA Social Work Course, please see the Postgraduate Funding section. Undergraduate Social Work students on a full-time course are entitled to a non-means tested bursary of 4,575* in years 2 and 3 of their course, providing they meet the academic standards to attend placement. This is in addition to the support from Student Finance England. If you are from Wales, Northern Ireland or Scotland you may receive funding from your respective funding body, but would not be entitled to the Social Work Bursary. You can apply for the Social Work Bursary from the NHS, further details about the application process are available from They will usually pay your bursary in three instalments, one at the start of each term, straight into your bank or building society account. Money Matters 9

10 Repaying Loans from Student Finance England (SFE) If you commence your studies in 2013, you will not have to start making repayments until April 2016, or the April after you complete your studies, whichever is later. The amount you will need to repay will be based on your earnings, not how much you have borrowed. If you take out a Tuition Fee Loan and a Maintenance Loan the total is combined into one student loan for repayment purposes. You only start making repayments once you are earning over 21,000 per year (the repayment threshold). If you are not earning this much, you will not have to start repaying the loan until you are. The repayments are collected through the UK tax system, either: w Through PAYE, where payments are deducted by the employer in the same way as Income Tax and National Insurance, or w Calculated through self-assessment and paid directly by the student if self-employed, Or if the student lives or works abroad: w Paid by another arrangement agreed with the Student Loans Company The amount you repay is based on 9% of your gross earnings above 21,000. So, for example, if you are earning 30,000 per year, you would repay 9% of 9,000 (gross earnings above 21,000). From a monthly salary of 2,500, this would mean a loan repayment of per month. You are charged interest on the loan. The rate you would be charged is based on your earnings and the current Retail Price Index (RPI) interest rate + between 0% and 3%. Whilst you are studying you will be charged the RPI + 3%. After April 2016 (or later if you have not completed your studies by then) the amount of interest you will be charged will be based on your income. If you earn under 21,000, you will be charged the RPI + 0%. If you earn between 21,000 and 41,000, you will be charged the RPI + a percentage between 0% - 3% on a sliding scale. If you earn 41,000 or over you will be charged RP1 + 3%. Interest is charged from the day the first payment is made until your loan is repaid or written off, whichever is first. Any loan remaining after 30 years will be written off. Further details about loan repayments and a repayment calculator can be found at: 10 Money Matters

11 Other Support for Students Disabled Students Allowances Disabled Students Allowances (DSAs) help pay for extra costs a student might have as a direct result of their disability, long-term health condition, mental-health condition or specific learning difficulty such as dyslexia or dyspraxia. DSA is additional support available to students who may otherwise be prevented from attending a highereducation course because of a disability. Who Can Apply? Full-time, part-time and some postgraduate students with disabilities. Special Requirements Part-time students must be studying at least 25% of a full-time course. For full-time and part-time postgraduate disabled students, courses must have an entry requirement of at least a first degree and be of a standard higher than that first degree. There is no upper age limit. Students who are not from England should apply for the equivalent funding through their respective funding body (see General Notes section for contact details) Students who are studying on an NHS funded course can apply through the NHS. Details can be found on the NHS website at How to Apply for DSAs Apply to Student Finance England, as soon as you can as the process can take around 14 weeks. A quick guide Disabled Students Allowances (DSAs) 2013/14 Key steps in applying for extra help explains the process in detail and can be downloaded from Telephone: , text: or visit Where to get further information A booklet Bridging the Gap has been produced by the SFE and is available on their website or by calling the information line Disabled students who are not eligible to receive DSAs should contact UCLan s Disability Services for advice and guidance on other possible sources of funding. UCLan contact Name: Disability Services Telephone or textphone: What level support is available? The type and amount of support you may require will depend on your individual needs. The maximum rates for the amount of support available for undergraduates in are as follows: w Specialist equipment allowance of up to 5,161 for the whole course. w A non-medical helper s allowance of up to 20,520 a year. The maximum available is reduced if you are studying part-time. w A general disabled students allowance of up to 1,724 a year. The maximum available is reduced if you are studying part-time. w Extra travel costs you have to pay as a result of disability and not normally for everyday travel cost. w Postgraduate students may be eligible for one allowance of up to 10,260 per year to meet all costs for both fulltime and part-time courses. Please note: Allowances for full and part-time students are different. How much you get does not depend on your income or that of your family. All of the above allowances are paid direct from Student Finance England to you or to the supplier of the specialist equipment or services. You do not have to repay this allowance. Money Matters 11

12 Other Support for Students UCLan Advantage It is important to us that we offer a superlative educational experience with outstanding value for money. These were the principles that led us to create the UCLan Advantage, which was first offered to UK/EU full time undergraduate degree students at the Preston City Campus in September In increasing our fee levels we are focused on offering a new distinctive package. We realise that if we are going to charge more, then it is only right that our students get more - a rounded, value-added experience - in return. Financial Support As part of the UCLan Advantage, we have financial support packages available for students from low income households and others in financial hardship. These are reviewed on an annual basis and information for students applying to UCLan will be available on our website. If you come from a household with a combined annual income of less than 25,000 and start your course in September 2013, you will may be eligible for 2,000 worth of portable financial credits in your first year, along with up to 1,000 cash at the end of your first year.* The portable financial credits can be used in a variety of ways depending on your needs for example, you could use them for contributing towards the cost of UCLan accommodation, buying food from outlets on campus or purchasing books for your course. For further information regarding the UCLan Advantage and the eligibility criteria, please see or call Student Financial Support Team - Access to Learning Fund The Student Financial Support Team provides general information and guidance about all aspects of student funding, referring students to specialist advisers where necessary. We also administer the Access to Learning Fund. We can offer assistance such as: w Short-term Loans w Access to Learning Fund w Bursaries w General Information & Guidance Short Term Loan Assistance Emergency Loans These are available to UK students who wish to loan money from the University whilst awaiting a delayed payment of their first instalment of student funding. Emergency Loans are for essential costs only i.e. food and travel and the maximum assistance we can supply in one instance is Loans must be repaid within 10 working days of receiving your first instalment of student funding. Interim Loans These are available to UK students who have received and exhausted their student funding instalment and are awaiting another source of income i.e. wages or next instalment of student funding Interim Loans are for essential or urgent costs and the maximum assistance we can supply in one instance is Repayment is set at the end of the following month. * Only UK students in receipt of support from Student Finance England are eligible for means-tested bursaries. 12 Money Matters

13 Other Support for Students Access to Learning Fund The Access to Learning Fund (ALF) provides additional financial assistance for UK students experiencing hardship during their studies. Applications for grant-based assistance are determined by a standard assessment. Awards are based on a shortfall between students income and expenditure. ALF can also assist with unexpected financial difficulties or other exceptional costs through a non-standard assessment. Who Can Apply? Home students studying on an eligible undergraduate or postgraduate course on a full-time or part-time basis. Parttime students must be studying at least 25% of a full-time equivalent course. The Government asks us to give priority to the following groups of students when deciding how to allocate the funding: w Students with children w Mature students w Disabled students w Students from low income families w Students who have entered education from care w Students from Foyers or who are homeless w Students receiving the final year loan rate, who are in financial difficulty. If you are not in one of the priority groups you can still apply but you must provide as much evidence as possible to show why you have a particular need. Students must be in receipt of all statutory support available to them before applying for the Access to Learning Fund. How to Apply Application forms are available from the Student Financial Support Team from the start of the academic year. Harris Bursary* The Harris Bursary is aimed at able students who require support to fund studies, including course-related enrichment activities, equipment, materials or living costs. Support up to a maximum value of 1,000 will be paid to individual students in any one year. This will usually take the form of in kind support such as equipment and food or book vouchers. To apply for the Harris Bursary you must first complete an Access to Learning Fund application and the SFS Team will then pass your details on if you fulfil the Harris Bursary criteria. More information can be made available by contacting the SFS Team. Telephone: Website: *Details correct for The Harris Bursary may be subject to change in 2013 Benefits Some students may also be entitled to benefits whilst they are studying, for example students with children, caring responsibilities or disability / illness. From 2013 Universal Credits will be phased in, replacing the previous benefit arrangements. As these changes will impact different students from different areas at different times, we would recommend you check what benefits you may be entitled to with the Students Union Advice Centre who can provide free independent advice. Your local Citizens Advice Bureau or Welfare Rights Advice Service may also be able to provide you with further information. UCLan CONTACT Name: Students Union Advice Centre Telephone: Web: *Rate for 2012 as rate for 2013 yet to be confirmed at the time of going to print. Money Matters 13

14 Support for Postgraduates Most postgraduate courses are not funded by the Government and students are expected to self-fund these studies. There are some courses where statutory support is available such as Teacher Training Courses and Masters in Social Work. Students can also apply for funding through Studentships, Charities and Trusts, although these types of awards are competitive and the amounts available and criteria can vary. Loans for postgraduate study may also be available through banks, depending on your circumstances. Teacher Training Students on Postgraduate teacher training course (PGCE) can access funding from SFE in the same way as undergraduate students. In addition to this some students may be eligible for teacher training bursaries or scholarships. Full details of which can be found on the following website: postgraduate-funding Social Work Bursary - MA Social Work Postgraduate Social Work students resident in England and starting in September 2013 can apply for a non-income assessed basic grant of 3,362.50* from the NHS. You can also apply for a means tested Maintenance Grant of up to 2,608* from the NHS. Therefore, dependent on your partners and/or your own financial circumstances, you could receive up to 5,970.50*. Students can also apply for non-means tested assistance towards the costs of tuition fees, the NHS will pay up to 3828* towards the Tuition Fees. This may not be sufficient to cover the full amount of Tuition Fees charged by the University. You can apply for the Social Work Bursary from the NHS, further details about the application process are available from For further information about Tuition Fees, please see *Rate for 2012 as 2013 rate yet to be confirmed at the time of going to print Additional Allowances There are also means tested additional allowances available to students with financially dependent children/adults available from the NHS. Adult Dependants Allowance: If you have an adult who is wholly or mainly financially dependent on you when you are studying, you may be eligible for this allowance. You may only claim for one adult dependant and if your partner is also a student claiming a statutory award you would not be able to claim a Dependants Allowance for them. The level of this award is up to 2,642* for the year, depending on your household income. Parents Learning Allowance (PLA): If you have a child or children you may be entitled to PLA of up to 1,508* per year depending on your household income. Childcare Allowance: The Childcare Allowance is available for students who have dependent children and pays a set rate of 85% of your actual childcare costs (to qualifying students) up to a net maximum of * per week for one child and * for two or more children throughout the whole year. All bursary and additional allowance payments will be paid in three instalments - one at the start of each term. Payments will be made directly into your bank or building society account. 14 Money Matters

15 Support for Postgraduates Other Postgraduate Courses Because of the wide range of funding options and information available about postgraduate funding the best way to find funding that may be suitable for you is by searching on various specialist websites. If you are applying for funding it is advisable to do this as soon as possible prior to starting your course as the funding is often limited and highly competitive. Search for postgraduate funding options on the following websites Studentships These are postgraduate positions that have funding attached for fees, living expenses or both. They are mainly funded by the UK s Research Councils - the Research Councils UK website has more information. Charities and Trusts These sometimes provide grants, often for students from poorer backgrounds or those who ve achieved academic excellence. Find out more at your local library in these publications: w the Educational Grants Directory w the Charities Digest w the Grants Register w the Directory of Grant Making Trusts Professional and Career Development Loans Professional and Career Development Loans are bank loans to pay for courses and training that help with your career or help get you into work. You may be able to borrow between 300 and 10,000. Loans are usually offered at a reduced interest rate and the Government pays interest while you re studying. How to apply 1. Order an application pack*. 2. Fill in the application form and send it to your bank. 3. Your bank will decide if you qualify for a loan. 4. You take out the loan with your bank and agree to their repayment conditions. * You can order an application pack from the National Careers Service website at: nationalcareersservice.direct.gov.uk You should apply 3 months before your course starts to give the bank enough time to process your application. Who can apply To apply you must: w be 18 or over w have been living in the UK for at least 3 years before your course starts w plan to work in the UK, European Union (EU) or European Economic Area (EEA) after the course Which courses qualify? Courses must: w only last up to 2 years, or 3 years if they include 1 year of work experience w be provided by an organisation on the Professional Career and Development Loan Register which UCLan currently is. w help with your career - they don t have to lead to a qualification Money Matters 15

16 Budgeting Earn While You Learn We understand and encourage this. Experience of the world of work can benefit your learning and, in some cases, you can integrate these opportunities with your studies. It is essential however to keep a balance so that your work on your course doesn t suffer. We recommend that full-time students do not take paid employment above 16 hours per week. The Opportunities Centre is your one stop shop for information on part-time jobs, volunteering opportunities, society information and Give It A Go activity. It is based on the ground floor of the Students Union building. You can contact the Opportunities Centre on or call The Essentials - Household Bills During your first year you are likely to take a place in Halls of Residence. If you are in University Halls your accommodation fees will include fuel bills i.e. gas and electricity. In your second and third years you will need to pay for all services associated with living in a shared house or flat, if you choose this option. w Private accommodation - agree with your housemates to set up an account in joint names to pay for shared bills. w Work out monthly expenses and set up direct debits or standing orders from your account to pay your bills -some providers offer discounts if you opt to pay by this method. w Ask parents/relatives to purchase telephone cards or vouchers for your mobile phone. w There is the option to have your telephone set to receive incoming calls only - this would eliminate the chance of accruing large telephone bills and avoid friction between your housemates when the bill arrives. Books and Stationery Bring A4 notepads and stationery with you. Most stationery outlets offer discounts and special deals on bulk purchases. Remember that students progressing onto the second year of their course may have second-hand books available for you to purchase - look out for second-hand books and bargains. Check notice-boards and book fairs. Shopping for food w Stock up at home with non-perishable goods - this will give you time to find out where the best places are to find bargains. w Shop around - take advantage of offers. w Shop in the cheaper supermarkets w Bring the essential items you think you will need. If you are in Halls of Residence wait until you arrive before purchasing larger items e.g. kettles and toasters as you are more than likely to end up with 6 of everything in your house/flat Discuss with your housemates who will purchase what and share your costs out. w Corporate Card - This can be credited with cash to pay for food at the refectories on campus. There are often special offers for holders of the card. w Remember that supermarkets are not the only places to shop, although some do have special deals for students. Preston has an excellent covered market with a wide range of goods often at cheaper prices. w Sort out your weekly menu in advance, making your own meals is much cheaper than buying takeaways. Get a NUS Extra card and take advantage of extra discounts which are available These are available throughout the year; you can get one from the SU or online at The card only costs but will save you lots of money long-term. Don t forget to budget for hidden essentials such as haircuts, magazines, special occasions, birthdays etc. You may also decide to join one of the many clubs & societies at the University. If you are taking up a new hobby or pastime there may be a cost for specialist equipment or material. UCLan contact Name: Students Union Advice Centre Telephone: Web: Travel Student rail cards and bus passes offer cheaper travel. Advertise / ask around for lifts / car sharing. Taxis are expensive but consider sharing with other students where possible e.g. visits to the supermarket. 16 Money Matters

17 Opening a Bank Account You are advised to open a bank account before you come to University. Shop around w Make sure you select an account that offers the services you need w Don t be taken in by give-aways - it s no good getting a free mobile phone if the account isn t suitable for you. What services might you need? w Cash card - to access money from automated cash machines. w Debit card - no need to carry large amounts of cash or write cheques. w Cheque book and guarantee card - may be necessary to pay bills and useful if you are running low on cash as cheques take a few days to clear. w Online Banking useful for keeping track of your finances and managing your bills. Interest rates Interest rates on overdraft facilities vary from one bank to another - its best to look around for the best option. w Current Accounts - generally offer smaller rates of interest on the amount in your account, again these rates vary so shop around. w Student accounts often come with an interest-free overdraft facility, which can be useful if you are waiting for your next instalment of student finance as you don t pay interest on the amount you borrow. Check the terms and conditions with the individual banks. w Savings Accounts - pay higher rates of interest than current accounts but may not offer the same services. There may be limits on how much you can withdraw without notice. Some limit the number of occasions you can withdraw money within a certain period. This may be an advantage if you think you will be tempted to spend money you haven t budgeted for. Open two accounts It may be a good idea to open two accounts: w savings account - where most of your money remains and gathers interest w current account / student account - which is easily accessible. Banks & Building Societies websites When your current account starts to run low you can transfer money from your savings account. This method may help you keep track of your financial position as you will have to monitor how much you have and which account it is in. This method could help you to budget to spend up to a fixed amount each week. You will also need to remember that some weeks may be more expensive than others. Useful Contacts at UCLan Name : Student Financial Support Team at UCLan Telephone: Website: Name: Students Union Advice Centre Telephone: Web: Money Matters 17

18 Preston PR1 2HE. Telephone Produced by Student Affairs Service & Financial Services, University of Central Lancashire. The information in this booklet was compiled in January 2013 and was correct at the time of going to press.

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