Student Finance

Lucy WrightSchools & Colleges Liaison Officer

Student Finance and Accommodation2011/12 entry

TerminologiesFees - Cost of tuition

Loans - Money available that needs to be paid back after graduation

Grants - Money from the government that is not paid back

Bursaries - Money from individual institutions that is not paid back

Scholarships - Dependant on individual institutions

Means tested - Financially assessed on household income

Fees• All HE Institutions can charge up to £3375

tuition fees• You can apply for a tuition fees loan or pay

directly• Must be repaid

Loan and grant for living costs (England)

Maintenance Grant• ‘Free’ – does not have to be repaid• Up to £2,906• If you’re household income is £25,000 or less

you will receive the full amount• If your household income is between £25,001

and £50,020 you would receive a partial amount

Loans and Grants (England)

Maintenance Loan• Maximum Maintenance Loan available is

£4,950 (£3,838 if you live in the parental home)

• 72% non-means tested• 28% is means-tested• Maintenance Grant reduces the amount of

Maintenance Loan you receive• Maximum amount of Maintenance Loan and

Maintenance Grant you can receive is £6,403

Household Income Maintenance Grant Maintenance Loan Total loan & grant

25,000 2,906 3,497 6,403

30,000 1,906 3,997 5,903

34,000 1,106 4,397 5,503

40,000 711 4,595 5,306

45,000 381 4,760 5,141

50,020 50 4,925 4,975

50,778 0 4,950 4,950

55,000 0 4,106 4,106

57,708 0 3,564 3,564

Loans and grants (England, 2011/12, living outside of London, not in the parental home)

Paying Back Loans• Neither loans needs to be paid back until a

Graduate is earning over £15,000• It is paid back at a rate of 9% of your salary• Example - if you earn £18,000 the rate per week is

£5.19 deduction• Evidence suggests Graduate earn greater wages

and get promoted quicker• If you never earn over £15,000 you don’t have to

pay back your loans

• Bursaries differ from institution to institution

• Leeds Trinity University College provide a bursary of an additional £500 - £1000 which can contribute to your maintenance grant.

Bursaries & Scholarships

A Note on 2012/13• Cost of degree uncapped • Still maintenance grants (for household

income under £60 000) and loans • Pay back when you earn £21 000 at

9% - £25 000 = £7 a week

Examples of living costs at university

What do you spend your money on?

What do you spend your money on?Rent

Food

Bills

Phone

Travel

Text Books

Socialising

How much do you currently spend on

these and how much do you think you will

spend on these whilst at University?

• Overdrafts• Credit Cards (Be wary)• Bank Loans• Student Packages Incentive

• Consider the rates in the long termConsider the rates in the long term

Banks

Budgeting• Part time Job • Tax• Buy only what you need, or as a treat• Buy second hand • Limit travel costs • Food shopping

• Extra money for the start of University• Try and stay away from credit cards, store

cards and extra loans where possible• Try and stick to a budget• Prioritise essential items• Find a part-time job

Top Tips

Halls with almost 580 single rooms

self-catered halls £3,120 pa

standard, catered £3,908 pa

en-suite, catered £4,500 pa

Trinity Close, & All Saints £4,095 pa

Inclusive of meal allowance

(£30/week) & bills

ID/Access control card

or pin number for security

Hall Warden in each hall

Rooms cleaned weekly, shared facilities daily

Accommodation forms sent to applicants who have selected Leeds Trinity as 1st (or FIRM) choice in May

Accommodation filled on first come first served

basis – read the information carefully when it arrives and send it back to us.

Any queries, contact the Accommodation office.

Many student areas within 15-20 min bus ride from Campus:HeadingleyHyde ParkBurley

Shared houses £60 – 70 /week + bills!Support - SU Accommodation Rep, notice boardsUnipol

Accommodation

www.studentfinanceengland.co.uk

www.dfs.gov.uk/studentsupport

www.studentfinance.direct.gov/uk

http://practitioners.studentfinanceengland.co.uk

www.leedstrinity.ac.uk/services

e.crompton@leedstrinity.ac.uk

Useful websites