Student Funding 2016 entry

Transcription

1 Student Funding 2016 entry Penny Edwards Student Recruitment Manager

2 Higher Education funding Tuition fees do not have to be paid up front whilst studying, full or part-time Tuition fees and maintenance loans available repayments based on what students earn, not what they owe 2015 budget: Maintenance grants abolished for 2016 entry. Loan increased to maximum of 8,200

3 Further funding Disabled Student Allowance Additional help available for students in specific circumstances Further financial help from the University of Brighton through our range of bursaries, the Student Support Fund, in addition to academic merit and sports scholarships NHS will continue to fully fund: Dieticians; Midwives; Nurses; Occupational therapists; Othoptists; Physiotherapists; Podiatrists, Prosthetists and Orthotists; Radiographers; Speech Therapists 1,000 grant from NHS; reduced loan from SFE; NHS income assessed bursary Check funding arrangements for: Audiology and Paramedic Practice Social Work funding arrangements under review for In 2015: n Full tuition fee charged to students tuition fee loan from SFE n Students eligible for maintenance loan from SFE n No NHS bursary in Year 1 for any UG social work student n Limited number of NHS bursaries for years 2/3 n Travel costs to and from placement supported, for all students, providing residency eligibility criteria is met.

4 2016 Tuition fees at Brighton Student type Tuition fee UK/EU 9,000 Island* 9,000 International 12,420 International lab-based 13,800 UK/EU students on placement 1,000 International students on placement 2,000 University of Brighton Merit Scholarships: Last year 50 awarded, each worth 1,000 University of Brighton Sports Scholarships: Elite athletes / elite disabled athletes Talented sports performance No increase in tuition fees for Possible inflationary increases from Tuition fee covers all mandatory costs; field trips for required modules, required equipment but not costs incurred for optional modules and activities. University bursaries for students from lower income households. Guide and website provides full details

5 Proposed 2016 Brighton Bursary Package Resident in England, household income below 25,000: n The University of Brighton Bursary: Household income less that 16,190-2,000 Household income between 16,191 and 25,000-1,000 First year only, paid in two instalments: February and May n Care Leavers and Compact Plus Bursaries: 1,000 per year from year 2 n Access to Professions Bursary: 1,000 in final year 4/5 year programmes in Architecture, Pharmacy and Teaching Additional Student Support Fund Financial assessment undertaken by SFE: Third party confirmation Details entered onto SFE portal, which HEIs access to confirm bursary eligibility Includes DSA assessment

6 Government funding for full-time UK undergraduates 2016 Living away from home and studying outside London Household income Repayable Maintenance Loan < 25,000 8,200 30,000 7,612 35,000 7,023 40,000 6,434 no maintenance grant for 2016 entry Maintenance Loan: Max. living at home: 6,904 Max. Studying outside London: 8,200 Max. studying in London: 10,702 Max. Studying overseas as part of course: up to 9,391 45,000 5,845 50,000 5,256 55,000 4,667 60,000 4,078 > 62,500 3,821

7 Example of possible weekly term-time income for 2016 entry based on 39 week accommodation contract Household income Repayable Maintenance Loan Part-time work 7.70 x 13.5 hrs = per week* Total Weekly income 25,000 8,200 4,054 12, ,000 7,612 4,054 11, ,000 6,434 4,054 10, ,000 5,256 4,054 9, > 62,143 3,821 4,054 7, * Based on data gathered from The Winn Report: The Financial Situation of Students at the University of Brighton NB - Students from lower income families may also be eligible for university bursaries 50% of students spent nothing on additional course costs* 46% of students spent 10 a week on travel* 93% of students worked over summer Y1-Y2*

8 What do our students say? 64% of students received financial gifts from family members and almost half of these were up to 500 Food cards are a great way to provide funds indirectly (Sainsbury's) 62% of students were using their own savings. 1/3 of this was between Saving over summer is a great way to financially prepare for university Only 68% remembered ever using UCAS or SFE for student finance information You do have to reapply for funding every academic year! 36% of students have a regular term-time job compared with 52% of students living at home Even if you move away some large employers will offer a job transfer 35% of students in regular term-time employment worked in retail, 30% in bars/ catering. 56% of students in ad hoc term-time employment worked for the university The university employs students helpers at 8.59 per hour 36% of students said their term-time job gave them useful work experience Extra experience looks great on a CV no matter how small The 2014 Winn Report surveyed 537 second year students about attitudes toward managing finances whilst at university. Participants commented on the helpfulness of student services and also the student wellbeing teams with providing guidance on financial issues. 58% of students were in credit at the end of the year

9 The cost of living Weekly outgoings Living in Halls Rent Utilities 0 8 Phone TV licence Contents insurance Food, domestic items Travel Clothing Laundry Study materials 5 5 Entertainment Living off campus Totals Average weekly cost of living: Brighton % of students spent nothing on additional course costs in first year 46% of students spent at least 10 a week on travel Brighton buses: weekly months 365 per year unlimited travel on all Brighton & Hove buses

10 Applying for funding Student Finance England Usually opens in late January One online, digital application to assess eligibility for grants, loans, DSA and university bursaries Student Passport Number for identification Household income - NI number and income identified on last P60 Enter one of your 5 university choices if you don t yet have a firm Deadline 31 st May to guarantee money available for start of term Enrol on-line, register in person at beginning of autumn term University sends confirmation to SFE Money transferred to student bank account by (can take a week) NHS bursary and grant can take longer to transfer. Paid in termly instalments (3 times a year) NHS bursary paid monthly

11 Repayments Budget recommended freezing 21,000 threshold for next 5 years, consultation closes mid-october Income each year before tax Income from which 9% is deducted Monthly Repayment (Approx) 21, ,000 4, ,000 9, ,000 14, ,000 19, ,000 24, ,000 29, ,000 39, Student loans DO NOT go on credit files Rate of interest: RPI plus 3% whilst studying RPI under 21,000 RPI plus up to 3% between 21,000 and 41,000 RPI plus 3% above 41,000 Debt cleared after 30 years Early repayments - no penalties Source: Student Finance England

12 NHS Funded 30 week courses 2015 entry figures All students eligible for 1,000 grant If you will be studying and living: in London and living in student/rented accommodation/ your own home elsewhere in England (UK for medical and dental students) and living in student/rented accommodation/ your own home During TERM TIME During TERM TIME NHS Nonmeans tested grant NHS Means tested bursary (maximum) Non-means tested maintenance loan 1,000 3,191 3,263 1,000 2,643 2,324 Maintenance loan reduced in final year of study additional allowances are available for disabled students and students with dependent adults and/or children anywhere in England (UK for medical and dental students) and living with your parents During TERM TIME 1,000 2,207 1,744 Apply through SFE for loan

13 NHS funded 45 weeks 2015 entry figures If you will be studying and living: in London and living in student/rented accommodation/ your own home elsewhere in England (UK for medical and dental students) and living in student/rented accommodation/ your own home During TERM TIME During TERM TIME NHS Nonmeans tested grant NHS Means tested bursary (maximum) 1,000 5,567 3,263 1,000 4,491 2,324 Non-means tested maintenance loan All students eligible for 1,000 grant Maintenance loan reduced in final year of study additional allowances are available for disabled students and students with dependent adults and/or children anywhere in England (UK for medical and dental students) and living with your parents During TERM TIME 1,000 3,439 1,744 Apply through SFE for loan

14 Useful websites *2% of all students in the UK (46,000) used a Payday loan to fund themselves whilst at university but 10% of parents chose to fund their children using a payday or doorstep loan. Please remember to use Student Services and the Students Union for additional support and advice during your time at university. *

15 Any Questions on the funding process?

16 /bis benefits-of-higher-education-participation-thequadrants.pdf BIS Research Paper: The Benefits of Higher Education Participation for Individuals and Society: Key findings and reports The Quadrants October 2013