Student Finance Jamie Bradford : Schools and Colleges Recruitment Manager

Transcription

1 Student Finance 2015 Jamie Bradford : Schools and Colleges Recruitment Manager

2 Why go to university? Costs and benefits of Higher Education Independence Meet new people Benefits of Costs of The right What Experience is HE? a different HE part of the country HE (or world!) decision for you Personal interest in a subject Gain a qualification Career progression and earning potential Develop transferable skills info &

3 Application Process September 2014 UCAS cycle opens Submit applications to universities 15 th October 2014 First UCAS deadline Oxbridge, Medicine, Vet Science January September 2014 Research courses, attend Open Days Plan your application 15 th August 2015 Results Day! Confirmation & Clearing September 2015 UNIVERSITY and the start of the best years of your life! Internal Deadline After Oct half term but usually before Christmas End of May 2015 Firm and Insurance choices need to be decided. 31 st March 2015 Deadline for universities to make offers. 15 th January 2015 Second UCAS deadline - Last point at which university gives equal consideration to applications.

4 Offers Conditional Offer Unconditional Offer There are conditions you need to meet to enter on to the course, usually grade/ucas point dependant. There are no conditions to meet, you will be accepted if you choose this offer. Alternative Course Offer Unsuccessful The university are considering you for an alternative (related) course instead. Your application to this course has been unsuccessful.

5 Accepting Offers Once you have received all your offers you can log in to UCAS Track and make your final choices. You will need to pick a... Firm choice this is where you definitely want to go should you meet the conditions. Insurance choice this is where you will go if you fail to meet your firm choice conditions. All remaining offers will be disregarded and will no longer show on UCAS Track.

6 Overview Tuition Fees Tuition fee loan (repaid) Living Costs Maintenance loan (repaid) Living cost grant (free) Bursary from university (free) National Scholarship scheme (free) Supplementary income

7 The Application Process All applications dealt with via Student Finance England Online application (but paper is available) Applications open 26 th January Student Helpline CRN Eliminate sections Passport Verification Track facility change basic details Facebook/ Twitter updates for deadlines

8 Tuition Fees Between 6,000 and 9,000 per academic year Fees will vary between course and universities Study now, pay later Fees paid either by: - Living cost grant along with - Tuition fee loan or - Private Finance or - Combination of the above

9 Maintenance Grant Maximum Grant of 3,387 per academic year Non-repayable! Means-tested - < 25,000 = Full Grant - 25,000 42,620 = Variable Grant Paid in 3 instalments direct to the student Can spend on living costs/tuition fees

10 Tuition Fee Loan Available to all applicants Non-means tested 6,000 to 9,000 available per year - linked to course costs Paid direct to the university Repaid by student after graduation

11 The Maintenance Loan To cover living and study costs 65% non means-tested 35% means-tested; What you get depends on: - Household Income - Where you live and study - The year of course you re on - Step parents income Paid in 3 instalments direct to student

12 The Maintenance Loan Maximum Entitlement Minimum Entitlement Living away from home in London 8,009 5,038 Elsewhere 5,740 3,610 Living at home 4,465 2,871

13 Starts in April after graduating Repayments Loan repayments linked to your salary: < 21,000 no payments 25,000 = per month 30,000 = per month 40,000 = per month Interest is initially linked to RPI + 3% Does not appear on credit score Remaining debt wiped after 30 years

14 Free pots of money Scholarships and Bursaries Allocated based on areas such as: - Household income - Family circumstances - Home Postcode - Academic performance - Specialist skill set - Vegetarianism Applied for via the institution awarding the money

15 Insurance 4 Food & Toiletries 30 Books & Stationery 5 Weekly Costs Rent 57 Electricity/ Gas 10 Water Rates 2 Travel 11 Laundry 4 TV Licence 2 TOTAL= 125 Costs and Budgeting

16 Additional Costs Weekly Costs House phone/ Broadband 3 Mobile phone 7 Clothes 11 Socialising 30+ TOTAL OUTGOINGS = 171

17 Supplementary Income Part-time job Work during holidays Work placements (a chance to save) Banks overdrafts NHS bursaries Parents?

18 Graduate Salaries Faculty Average graduate salary % in employment or further study 6 months after graduation Art & Design Average - 16,599 94% Business & Law Average - 28, % Health & Life Sciences Average - 23, % Humanities Average - 17, % Technology Average - 21, %

19 Any questions