ON M S MRC 0. = Funding Your Degree. Information for UK fee-paying students

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1 ON M S % = x - + MRC M- M+ Copyright 2010 The University of Sheffield Funding Your Degree. Information for UK fee-paying students

2 Checklist First Things First. This guide will help you work out what funding you can get to finance your time as a student at Sheffield. There s lots to take in, but you can ask questions about student finance at our Open Days, and there s much more information on our website September / October 2010 You should register online for government funding for your course at the same time as you apply to UCAS. There is an early UCAS deadline for some courses. Start putting together your own individual funding package, such as government and university funding, your family, charities, and how much you could earn through part-time work. January 2011 UCAS deadline for most courses. You should have registered online for funding by now. We will automatically assess you for a University of Sheffield bursary if you have registered for government funding. Contents The funding scene 4-6 Registering for funding 8 Tuition fee loans 10 Maintenance loans 12 Maintenance grants 12 Funding from the University 14 Funding from charities 15 Financial support grants 16 Funding for mature students 16 Funding for students with children 16 Funding for disabled students 17 Funding for part-time students 17

3 The funding scene You might source funding from your studies from several places, including: Your family The government Charities Study now pay when you re earning Tuition at the University of Sheffield in 2010 will cost new home fee paying undergraduates It will be slightly more in The good news is: all sorts of financial support is available, including loans and grants, from the government, from the University, and from other sources. And you don t have to pay anything towards your tuition fees until after you graduate and start working. The University The NHS Part-time work You will need to start thinking about what your individual funding package might be. You might source funding from your studies from several places, including: the government your family the University the NHS for medical-related courses charities part-time work. You don t have to pay anything towards your tuition fees until after you graduate and start working. 4 5

4 There are four main forms of cash support for University of Sheffield undergraduates. Tuition fee loans Tuition fee loans are funded by the government and they are available to everyone. You pay this money back after you have graduated. See page 10. Maintenance loans Maintenance loans are government loans that you repay after you have graduated. They are partially income based. See page 12. Maintenance grants Maintenance grants are government loans that you don t need to repay. It is based on your income. About 40 per cent of students are entitled to the full maintenance grant, and many others receive a partial grant. See page 14. Funding from the University of Sheffield Many of our students receive cash bursaries from us. These are payments that you do not need to pay back. Anyone can be assessed for a University of Sheffield bursary. There are also other sources of University funding, depending on what you are studying, and your personal financial circumstances. See page

5 You Need to Act Soon. Registering for funding Don t leave it too late. The first thing you should do is register with the government agency that is relevant to you. This depends on which UK country you normally live in. You need to do this at the same time you apply to university through UCAS. England: Scotland: Wales: Northern Ireland: Once you are registered, you should receive all the information you need to start planning your funding. You will be able to apply online for government loans and grants, and track your funding application alongside your UCAS university application. To make sure you get the finance you need to study, register with your government agency at the same time as making your application to UCAS. They will send you all the information you need about tuition fee loans, and maintenance loans and grants. 8 9

6 Tuition fee loans Most UK students can get tuition fee loans. To apply you need to register with your home country government agency (see page 8). A tuition fee loan is available if you are going to study full time. It covers the whole tuition fee and it is paid directly to us by the government on your behalf. You do need to pay this back, but there s nothing to repay until after you leave university, and only then when you earn more than 15,000 per year. Repayments are set at nine per cent of you earnings over that 15,000 per level, so as your salary increases, the repayments increase. For example, if you are earning 18,000 per year, you will pay back per month. The less you earn, the less you repay, and if your income goes below 15,000 the repayments will stop, although you can make voluntary repayments if you want to. Who can get a tuition fee loan? Most UK students can get tuition fee loans, unless you have taken a higher education course before. Other factors that might affect whether you can get a tuition fee loan are where you live, and whether the course you are taking meets the criteria for public funding. How do I apply? To apply for a tuition fee loan you need to register with your home country government agency, for example Student Finance Wales (see page 8 for a full list). You should register at the same time as you apply to university. Will I pay interest? Interest starts from the day you take out the loan. As the interest rate is linked to inflation, the amount you pay back is broadly the same as the amount you borrowed. How long does it take to pay the loan back? This depends on you, how much you earn, and how much you have borrowed. If you also have a maintenance loan (see page 12) then these are added together and you will make only one set of repayments. There s nothing to repay until after you leave university, and only then when you earn more than 15,000 per year

7 Maintenance loans and grants Maintenance loans Maintenance loans are designed to help you with your day-to-day living costs. You can apply for a maintenance loan if you are registered with your home country agency, for example Student Finance England. There is a maximum you can borrow, and the amount also depends on your household income and other financial support you get. If you decide to live at home and commute to university the amount of maintenance loan you can get is reduced. You pay maintenance loans back in the same way as tuition fee loans. In maintenance loans are worth up to 4,950 if you live away from home. This amount is reduced if you also get a maintenance grant. Maintenance grants Maintenance grants are free. You might be entitled to this nonrepayable grant to help you with you living expenses. The higher your household income, the lower the grant you can get. But the lower your maintenance grant, the more money you ll be able to borrow as a maintenance loan. In maintenance grants are worth up to 2,906, and about 40 per cent of students qualify for the full maintenance grant. Don t wait until you re offered a place on a course to apply for a loan or grant. You should apply at the same time you apply for a place at university through UCAS. Remember to register with your relevant government agency (see page 8). In maintenance grants are worth up to 2,906, and about 40 per cent of students qualify for the full maintenance grant

8 Funding from the University The University of Sheffield bursary scheme On top of any government finance you may get, we offer bursaries to help with living costs to many of our students. You will automatically be assessed for one of our bursaries, as long as you are registered with your relevant government student finance agency. Our bursaries are paid soon after you register, so you get your money at the beginning of your first semester. We are one of the quickest universities at paying student bursaries. Make sure you check our website for up-to-date information about our bursaries: We are one of the quickest universities at paying student bursaries. Funding from charities You might be able to access funding through charities that support UK students through their studies. The criteria for accessing this type of funding depend upon the individual charities. You can see a list of organisations that offer scholarships here: There may be other funding sources available, so spending some time researching could well pay off. Online directories of funding opportunities are a good place to start, for example: Other University sources of funding There are many different types of funding that you may be able to apply for. Some departments have their own bursaries, there are sports bursaries, music scholarships, and bursaries donated by our alumni. You should check with your department if there are any subject-specific scholarships available, and look at the information about scholarships on our website

9 Financial Support Grants If you find your self in financial difficulty whilst you are a student, you can apply for Financial Support Grants and Access to Learning Funds. They are available to students who need extra help with unforeseen living costs once they have registered, and they are arranged through the University. Priority is given to students from low-income households, and those with dependants, disabilities, and mature students. These grants do not have to be paid back, and they range from 100 3,000. Other sources of funding Mature students If you are a mature student of any age you are entitled to apply for grants and tuition fee loans. You may also be eligible for a University of Sheffield bursary. If you want to apply for a government maintenance loan, you should be under 60 years old when you start your course. If you re between 21 and 25 and you have been supporting yourself financially, living away from your parents, then their income is not taken into account when assessing your entitlement to funding. Independent students over the age of 25 are assessed on their own household income. This means that the income of your spouse or partner is also considered. Students with children You could be eligible for a childcare grant to help you with childcare costs. This is up to a maximum of per week, if you have one child, or 255 per week if you have two or more children. You might also qualify for a Parents Learning Allowance of between 50 and 1,508 in Part-time students If you will be studying part time you may be eligible for a non-repayable fee grant. You might also get a grant towards your course and any childcare costs you have. The amount you may get depends on how intensive your course is. The nearer you are to full-time study, the more you get. Your entitlement also depends on your household income. For detailed information, and up-todate figures on all the government support available see: Part-time students are not eligible for the University of Sheffield bursary scheme, but you might qualify for other bursaries and scholarships. Disabled Students Allowances If you have a disability or specific learning difficulty you can get nonrepayable financial help that doesn t depend on your household income. This applies to full- and part-time courses, as well as full-time distance learning courses. When you apply, your needs will be assessed to establish the support you need. Disabled Students Allowances are paid in addition to other student grants and loans. For students, the general Disabled Student s Allowance is a maximum of 1,274 per year. If you need specialist equipment in order to attend university, you could be eligible for up to 5,161 for the whole course. If you need a non-medical helper, such as a sign-language interpreter, reader or note-taker, you can claim up to 20,520 for each year of your course. Disabled part-time students The maximum specialist equipment allowance is the same whether your course is full-time or part-time. Other allowances are paid pro-rata according to how much you study. Futher information: For detailed information, and up-to-date figures on all the government support available see:

10 Finding out more There is much more information about government loans and grants on the websites listed on page 8. Make sure you check our website for up-to-date information about fees and university bursaries. When you ve registered with your government agency (at the same time as you apply to university through UCAS), they will send you all the information you need. We are happy to answer any questions you may have about funding, either at Open Days, through the Ask Sheffield part of our website or by phone on If you need this booklet in an alternative format, call