Student Funding. For students from England who start in 2017

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1 Student Funding For students from England who start in 2017

2 Overview Tuition Fees Living Cost Loan Additional Support Disabled Students Allowance Social Work Repayments

3 Tuition Fee Loans Available to all eligible undergraduate students Up to 9,250 Not income-assessed Paid direct to the university by the Student Loans Company Repayable

4 Living Cost Support Maintenance Loan for living costs Living away from parental home up to 8,430 Living at parental home up to 7,097 How much loan depends on household income

5 Living Cost Loan - away Household Income Living Cost Loan 25,000 8,430 30,000 7,825 35,000 7,220 40,000 6,615 45,000 6,009 50,000 5,404 Over 62,187 3,928 Figures for students living away from home and outside London

6 Living Cost Loan at home Household Income Living Cost Loan 25,000 7,097 30,000 6,499 35,000 5,901 40,000 5,303 45,000 4,705 50,000 4,107 Over 58,215 3,124 Figures for students living at home and outside London

7 Living Costs Maximum Loan is 8,430 per year 216 per week over 39 weeks academic year To cover: Accommodation Course costs Travel Food Socialising and university activities

8 Student Budget Income Weekly Maintenance Loan 216 Part-time work 42 TOTAL IN 258 Spending Weekly Accommodation 120 Food and household bills 52 Travel 21 Course costs 10 Entertainment 35 Toiletries/Clothes 20 TOTAL OUT 258

9 Budgeting tips Do a weekly food shop and cook for yourself Make sandwiches for lunch Cycle, walk or get a weekly/monthly/annual bus pass Plan for nights out and limit spending to a fixed amount Make the most of library resources Use your NUS Extra discounts Prepare a budget and try to keep to it

10 Extra Funding at Leeds Beckett Hardship Funds Tenancy Deposit Scheme Care Leaver and Estranged student bursary Primary Carer Bursary Placement Support Beckett Achievement Award Sports Scholarships Other scholarships see website

11 Students with Dependants Childcare Grant: Based on 85% of actual registered childcare costs up to a limit. Parents Learning Allowance: Help with course-related costs for students with dependent children Amount be up to 1,617 Adult Dependants Grant: Normally for the student s partner, or another adult who is financially dependent on the student and their net income is not more than 3,796 p.a. Maximum grant available: 2,834

12 Disabled Students Allowances Disabled Students Allowances provide help towards the additional costs that a student may face as result of their disability, long-term health condition, mental-health condition or specific learning difficulty: DSAs Support: Is available in addition to the standard student finance package, Does not have to be repaid, Is not affected by household income, Looks at the specific needs of the individual in relation to their circumstances and studies Students should apply for their DSAs as soon as possible, the process can be triggered from the main online application form.

13 Disabled Students Allowances Allowance Non-medical personal helper Part-Time Maximum Support Full-Time Maximum Support 15,978 21,305 Specialist equipment 5,358 5,358 Other disability-related expenditure Disability related travel 1,342 1,790 Per academic year Duration of Course Per academic year No Limit Reasonable spending can be claimed

14 Social Work Paid in addition to other SFE funding Bursary currently 4, (2016/17) Includes an amount for travel placement costs Not income-assessed Bursary is only available from the second year of the course There is a cap which limits the number of bursaries All students get for placement

15 NHS Courses NHS funding is expected to come to an end for new students Affects students starting from September 2017 Maintenance Loans and Tuition Fee Loans from the Student Loans Company a likely replacement

16 Interest on Student Loan Interest levels will depend on a students income and circumstances: During study until entering repayment Income: Under 21,000 Interest Rate: Retail Price Index +3% Interest Rate: RPI Only Income: 21,000 to 41,000 Income: Over 41,000 Interest Rate: RPI + up to 3% Interest Rate: RPI +3% i The interest rate is updated once a year using the RPI figure from March which is carried forward and applied in September

Student Loan Repayment Gross Salary Salary over 21k from which 9% deducted Up to 21,000 0 0 25,000 4,000 30.

17 Student Loan Repayment Gross Salary Salary over 21k from which 9% deducted Up to 21, ,000 4, ,000 9, ,000 14, ,000 19, ,000 24, ,000 29, Monthly repayment

18 Useful Contacts & Websites Student Money Advice Advice line: Monday-Friday Student Finance England Tel: NHS and Social Work Money Saving Expert

19 Any Questions? The accuracy of the guidance in this PowerPoint is based on the best information available at the time of writing. However, such information is subject to change, sometimes at short notice. Be aware that the PowerPoint may be misleading if used in isolation. Whilst care has been taken to ensure that all information is correct, the Leeds Beckett University Student Money & Advice service does not accept responsibility for errors, omissions or inaccuracies.

Student Finance 2019/20

Student Finance 2019/20 Please note, the information in these slides has been put together by the University of Portsmouth, and is correct at the time of writing (May 2018). If you are looking at these