Cambridge Student Finance:the facts

Cambridge Student Finance:the facts

There have been a number of changes to student financearrangements for UK and EU students starting courses in 2012. So,what are the facts that you need to know about costs and support atthe University of Cambridge?

1. Value for money – Cambridge is committed to providingstudents with a world-class education and access to the very bestteachers, facilities, resources and support. To do this, we invest anaverage of over £17,000 per year in educating each student.

2. Low living costs – living costs at Cambridge are much lower thanmany imagine. For example, undergraduate students areguaranteed College-owned accommodation for three years1 andmost only pay for accommodation during term time unless theydecide to stay in Cambridge over the vacations.

3. No upfront fees – no UK/EU student will have to pay their tuitionfees while they are studying.2 Instead, you can take out agovernment student loan for fees, and defer payment until youhave graduated and are earning over £21,000 per year.

4. Financial support – the University and Colleges offer an extensiverange of financial support to ensure that students are able to meetthe cost of their Cambridge education, regardless of background.

5. Excellent career prospects – Cambridge students are highlyemployable and we have one of the highest graduateemployment rates in the UK. Of the students who graduated in2010, 91 per cent were in employment or further study six monthsafter graduating, compared to 86 per cent nationally.1 Guarantee applies to single undergraduates without

children, and at all Colleges except St Edmund’s. 2 Students from Scotland, Wales, Northern Ireland and theEU should check with the relevant student finance agencyas arrangements may vary.

www.cam.ac.uk 1

What does it cost to study at Cambridge?

Whichever university you choose to apply to there are two costs that you’ll need to consider –your tuition fees and your living (or ‘maintenance’) costs.

Why Cambridge?Studying at Cambridge is not only cost-effective while you’re a student here but alsoa fantastic investment in your future. This isbecause:

• we offer very competitive living costs –Cambridge is consistently ranked in thetop 10 of the NatWest Student LivingIndex of the most cost-effective UKuniversity cities

• extensive financial support is availablefrom the University and the Colleges

• as a Cambridge graduate you’ll be highlyemployable and sought after, as well ashaving better prospects of progressionand earning potential than non-graduates

Tuition feesThe University will be charging new UK andEU students tuition fees of £9,000 per year forall undergraduate courses in 2012. The tuitionfee for those studying on a year abroad willbe half the standard fee during that year.

Many students will be eligible for aCambridge Bursary which could reduce theirtuition fee to £6,000 per year – see p6. Somestudents will also be eligible for a further£6,000 fee waiver through the NationalScholarship Programme (see p5) thuspotentially reducing their tuition fee to £0 inthe first year.

No UK/EU1 student has to pay their tuitionfees up front or while studying at theUniversity. Instead, you can take out a

What am I paying for? How much does it cost per year?2Accommodation £2,100–£3,600

£2,700–£3,900 en suiteKitchen facilities charges £360–£510

College meals £3–£4 eachTransport Cheap or free!

Example living costs at Cambridge 2011–12

1 Students from Scotland, Wales, Northern Ireland and theEU should check with the relevant student finance agencyas arrangements may vary.

Living

costs

includ

e:

2 Based on an academic year of 30 weeks.

government student loan for tuition, anddefer payment until you have left Cambridgeand are earning a minimum salary (currently£21,000 per year).

Living costsWhat are ‘living costs’?Your living costs (or maintenance costs) areall the other things that you’ll need to pay forat university apart from your tuition fees.These include:

• accommodation• study costs – books, photocopying, study

materials etc• food• personal expenses – clothing, toiletries,

telephone, insurance, tv licence etc• travel• social activities

Your term-time living costs will varydepending on your lifestyle and your course.However, we estimate that you should allow£7,000–£7,500 a year for these.

Before we go into more detail, the table leftoutlines some of the main costs involved instudying at Cambridge.

2 www.cam.ac.uk

• AccommodationUnlike other universities, Cambridgeguarantees College-owned accommodationto most undergraduate students1 throughouttheir entire course. This means:

• you don’t have to pay private rentaldeposits or commercial rates

• you don’t (in most cases) have to pay rentduring the vacations unless you decide tostay in Cambridge

Single study bedrooms currently costbetween £70 and £120 per week, dependingon the size and facilities of your room (ensuite rooms cost around £90–£130 per week).Estimated rents include heating, electricity,cleaning and some self-catering facilities.Please refer to individual College websites forfurther details.

• FoodAll students have access to College diningfacilities, where you can buy cafeteria-stylemeals as well as more formal three-course sit-down dinners (known as ‘formal halls’). A twocourse meal and a drink can be purchased foraround £3–£4 and a typical formal hall willcost around £7.

Some Colleges levy a charge towards the costof the College kitchens – often referred to asthe kitchen facilities charge (around £12–£17per week) – and then offer meals at lowerprices as a result.

You’ll also have access to basic self-cateringfacilities if you want to cook for yourself.

• Study costsWe have a wide range of up-to-date learningresources, including excellent library andcomputing facilities to keep your living costsdown. For example:

• there are 114 libraries in total so lots ofstudents find they don’t have to buymany (if any!) books for their course

• many student rooms have free or verylow cost access to the internet and thereis plenty of technical support and advice

• most Colleges also offer grants to helpstudents with costs associated with theircourses

• TravelTransport costs as a student in Cambridge areminimal, as the Colleges, departments andcity centre are all within walking or cyclingdistance of one another.

• Social activitiesLots of social events are College-based andstudent-run so they don’t cost very much –entry to a Friday night event in College isaround £2–£3. You’ll also find discountedprices in College bars and at student-organised events in clubs around the city.

Each College has a range of facilities tosupport drama, music and a wide variety ofsports – usually free to students in theCollege. The University also has over 600clubs and societies open to students at littleor no cost.

1 Accommodation guarantee applies to singleundergraduates without children, studying for a three yearcourse and at all Colleges except St Edmund’s.

Government loan for tuition feesStudents from England will be able to takeout a government student loan for tuitionfees, which is paid directly to the University.This means that you don’t have to pay yourtuition fees up front but can defer paymentuntil after you’ve graduated and are earning aspecified minimum salary. This loan is notmeans-tested so all students, regardless ofhousehold income, are eligible.

Tuition fee support for students fromScotland, Wales and Northern Ireland maydiffer. Please refer to the appropriate studentfinance award agency website for details (seep11).

Students from the EU (outside the UK) whoare studying at an English university and whomeet certain conditions will also be able toapply for a tuition fee loan. See thegovernment’s Student Finance website formore details (www.direct.gov.uk/studentfinance/).

A limited number of NHS Bursaries are alsoavailable to help UK medical students with

the cost of their tuition. Please see the NHSStudent Bursaries website for moreinformation (www.nhsbsa.nhs.uk/students).

Will I have to pay the student loan fortuition fees back?If you take out a loan for tuition fees, you willhave to pay it back. However, you only startrepaying it in monthly instalments afteryou’ve left university and once you’re earninga minimum salary (currently over £21,000 peryear) determined by the Department ofBusiness, Innovation and Skills (BIS).

Your loan repayments will be nine per cent ofwhatever you earn over £21,000 so theamount you repay each month is dependenton what you earn, not on how large a loanyou borrowed. In other words, until you havepaid off your loan your monthly repayments

will be exactly the same each month whetheryou studied a course with fees of £6,000 or of£9,000. The table below outlines some typicalmonthly repayments according to salary.

In addition:

• if your salary drops at any time (eg if youtake a pay cut) your monthly repaymentswill be reduced accordingly

• any loan that is left after 30 years will becancelled

• any student loan you take out will not goon your credit reference files and is alsovery unlikely to affect your ability to get amortgage in the future

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How will I cover my costs?

When you start adding up the figures, the costs of going to university can seem daunting. However,there’s lots of help available, particularly for UK students, and this section outlines the financial support onoffer in more detail.

£25,000 £4,000 £30.00£30,000 £9,000 £67.50£35,000 £14,000 £105.00£40,000 £19,000 £142.50

Salary Salary amount from which nine Monthly per cent deducted repayment

4 www.cam.ac.uk

Will interest be applied to the studentloan for tuition fees?Although you will accrue interest on anystudent loan you take out, the level will bemuch lower than rates for commercial loans.Currently, the government intends that:

• interest will be applied at the rate ofinflation (Retail Price Index) plus three percent while you are studying (and up untilthe April after you leave university)

• from the April after you leave university,the interest applied will depend on howmuch you earn (varying between therate of inflation and the rate of inflationplus three per cent)

The interest applied to student loans isexplained in more detail on thegovernment’s Future Students website at:http://studentfinance-yourfuture.direct.gov.uk/repay/.

While the rate of interest applied to anystudent loan you take out may affect howlong you will be repaying that loan, it will notaffect your monthly repayments (which willcontinue to be nine per cent of whateveryou earn over £21,000 per year) and any loanthat is left after 30 years will be written-off.

Government loan for living costsIn addition to the student loan for tuitionfees, students from England can take out agovernment living cost or maintenance loan.A portion of the living cost loan is means-tested with the level of loan you are eligiblefor dependent on your household income. In2012–13, the maximum amount that can beborrowed by students living away from home(outside London) is £5,500.

Students from Scotland, Wales and NorthernIreland should refer to the relevant studentfinance authority for information regardingliving cost loans.

Some EU students may be eligible for helptowards living costs. Please see thegovernment’s Student Finance website forinformation and eligibility criteria.

Will I have to pay the student living costloan back?As this is a loan, the money you borrow willhave to be paid back but, like the studentloan for tuition fees, this will be in instalmentsand not until after you’ve left university andare earning a minimum salary (currently over£21,000 per year, as determined by BIS).

If you take out loans for both tuition fees andliving costs, when you leave university theseamounts will be combined into a single totalsum to be repaid. Please see the informationon p3 regarding repayment of your studentloan. Further information and guidance canalso be found on the government’s StudentFinance website.

Will interest be applied to the student loanfor living costs?Just as you will accrue interest on any studentloan for tuition fees you take out, so will youaccrue interest on any loan for living costs.The information above regarding interest ontuition fee loans also applies to living costloans.

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Government living cost grantUK students from lower income families willbe entitled to a means-tested living cost (ormaintenance) grant to help withaccommodation and other living costs.

Levels of support and arrangements varybetween England, Scotland, Wales andNorthern Ireland and the amount you receiveis dependent on your household income, asassessed by the appropriate student financeaward agency. As a guide, students fromEngland whose household income is £25,000per year or less will receive £3,250 in 2012–13(see table on p9).

Will I have to pay the living cost grant back?No. As this is a grant, you won’t have to pay itback at any time.

Will receiving a living cost grant affect theother support I’m eligible for?Receiving a living cost grant may reduce theamount of student loan for living costs you’llreceive. Please see the government’s StudentFinance website for more details (see p11).

National Scholarship ProgrammeThrough the National ScholarshipProgramme, students1 from particularlydisadvantaged backgrounds are eligible toreceive a £6,000 fee waiver in their first year inaddition to their Cambridge Bursary (see p6).This means that some students’ tuition feescould be as low as £0 in their first year.

You will be eligible to be considered for theProgramme if you have a household incomeof £21,000 per year or less and you also satisfyone of the following criteria:

• you have spent more than six months incare

• you are a lone parent• you were entitled to free school meals

whilst at school• you have a disability

Students who do not meet one of the criteriaabove but whose household income is lessthan £12,000 per year will also be consideredfor an award. For further information aboutthe eligibility criteria please see the financepages of the Undergraduate Admissionswebsite (www.cam.ac.uk/admissions/undergraduate/finance/).

There are government limits on the numberof awards that will be available. While allstudents who meet the criteria outlinedabove are eligible to apply and be consideredfor the Programme, it is not possible toguarantee that all who apply will receive anaward.

How many Scholarships are available atCambridge?Over 130 awards will be available in 2012-13.Because the Programme is reliant on match-funding from the government, the numberand value of Scholarships may change infuture years.

How do I apply for a Scholarship?If you receive an offer to study at Cambridge,you will be sent further details regarding theapplication process for the Scholarships andthe supporting information that you will needto provide. Following the assessment ofapplications, Colleges will notify applicantswhether they have been awarded aScholarship or not and will make thenecessary arrangements to reduce the tuitionfees of those who are successful.

1 Please note that students from England are eligible forthe National Scholarship Programme, in line withgovernment guidance. EU students are also eligible toapply. However, the government guidance means thatstudents from Northern Ireland, Scotland and Wales arenot currently eligible for the Programme.

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Cambridge Bursary SchemeThe Cambridge Bursary Scheme offers UKand EU students Bursaries of up to £10,500over three years or £14,000 over four years tohelp them meet their higher education costs.

The value of the Bursary you receive will bedependent on your household income, withthe maximum award in 2012–13 being£3,500. The Bursary can be used to help withmaintenance costs or to reduce tuition fees,and more information can be found onp7–11.

College awardsColleges also provide support such as:

• book and equipment grants – to helpwith specific study-related costs

• travel awards – both for academic workand personal enrichment

• scholarships and prizes – for academic,musical and sporting achievement

In addition, grants and loans are available tosupport students who are facing unexpectedfinancial difficulties. Information on all thesefunds is available from each College(www.cam.ac.uk/admissions/undergraduate/finance/colleges.html).

Support for disabled studentsUK students with a disability may be eligiblefor a Disabled Students’ Allowance, to helpwith costs incurred as a direct result of theirdisability. More information is available on theappropriate student finance award agencywebsite (see p11).

The University also has a number of fundsspecifically for disabled students (from the UK,EU and overseas). See the Disability ResourceCentre website for more information(www.cam.ac.uk/disability/students/finance/).

Music awardsCambridge is well-known for the excellenceand diversity of its music-making, and as aresult has a number of awards foroutstanding musicians. More information isavailable at: www.cam.ac.uk/admissions/undergraduate/musicawards/.

Sports grants and bursariesA small amount of financial support isavailable to outstanding sportspeoplestudying at the University. Applications forthis support are made once you have startedat Cambridge rather than as part of theadmissions process. For more informationplease see: www.sport.cam.ac.uk.

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Cambridge Bursary Scheme

Our guarantee• UK/EU students with a household income

of £25,000 per year or less (and whotherefore qualify for the full governmentliving cost grant or its equivalent) will beeligible for a Bursary of £3,5001 per year.

• UK/EU students with an annualhousehold income of between £25,001and £42,600 will qualify for a lower levelof Bursary.

• Mature UK/EU students (aged 21 or overat the start of their undergraduate course)living in Cambridge throughout the year,and who qualify for a full governmentliving cost grant (or its equivalent), will beeligible for a higher Cambridge Bursary ofup to £5,6501 each year.

What are Cambridge Bursaries for?Cambridge Bursaries are primarily designedto support students with their living costswhile at Cambridge. However, if you receive aBursary of £2,000 or more you will be able tochoose whether to use it towards your livingcosts or to reduce your tuition fees (up to amaximum of £3,000). Where your Bursary isbeing used towards your living costs, thevalue will be deducted from your Collegebills.

Who can apply for a CambridgeBursary?The eligibility criteria for the Bursary differslightly for UK and EU students. For moreinformation see:

• p8 – for UK students • p10 – for EU students

Will I have to pay the Bursaryback?No. As the Bursary is not a loan, you won’thave to pay it back at any time.

How many Cambridge Bursariesare awarded each year?There’s no limit to the number of CambridgeBursaries that are available – every eligiblestudent who applies will receive one.

At Cambridge, we don’t want financial considerations to stop you applying to the University. Equally, wewant to ensure you have the financial support you need while you are here. That is why we offer theCambridge Bursary Scheme for UK and EU students studying for their first undergraduate degree.

For further info ...

Cambridge Bursary SchemeInformation, guidance and advice aboutthe Cambridge Bursary Scheme can befound online at: www.cam.ac.uk/cambridgebursary/

1 Please note that values quoted are for 2012–13, unlessotherwise specified. Affiliated students are not currentlyeligible to apply for a Cambridge Bursary.

8 www.cam.ac.uk

Who can apply for a Bursary?UK students (from England, Scotland, Walesand Northern Ireland) studying for their firstundergraduate degree will be eligible for aCambridge Bursary of up to £3,500 per year.

A higher Bursary of £5,650 per year isavailable for mature students (aged 21 orover) who meet the eligibility criteria and livein Cambridge throughout the year.

How much will I receive?The Bursary amount that UK students receiveis calculated by taking the three factors (seeright) into account.

The table on p9 indicates the typical values ofCambridge Bursaries in 2012–13 according tohousehold income. The maximum amountavailable will be reviewed on an annual basis.

In addition to the Cambridge Bursary Schemeand any other non-repayable governmentsupport that you will be eligible for, you willbe able to take out a student loan (see p4) inorder to meet any remaining living costs.

What’s ‘household income’?‘Household income’ is a government term. It’susually roughly what your household is paidevery year before tax is taken and after certainsums, such as pension payments andallowances for other dependent children,have been subtracted. More information isavailable from the appropriate studentfinance award agency (see p11).

Will receiving a Cambridge Bursary affectwhat other financial support I’m eligiblefor?The Cambridge Bursary is in addition to thegovernment living cost grant or student loanwhich you receive. Therefore, it won’t affectyour eligibility for means-tested financialassistance from the government.

Cambridge Bursaries – UK Students

Factors used to calculate Bursaries for UK students 2012–13

1. Your household • If you have an assessed household income of £25,000 per year or less, income then you’ll qualify for the full Cambridge Bursary of £3,500 per year.

• If you have an assessed household income of between £25,001 and £42,600 per year, then you’ll qualify for a lower level of Bursary (see table on p9).

2. Any additional • On the application, you must declare all income from scholarships,funding you grants1, industrial sponsorship, charities, and (where relevant) the renting receive out of your permanent home while you live in Cambridge. If this income

exceeds £1,000 your Bursary amount will be reduced accordingly (see Bursary Scheme website for details).

3.Your age when • Some mature students (aged 21 or over) may qualify for a higher level you start your of Cambridge Bursary of up to £5,650 per year. Please see the Cambridge undergraduate Bursary website for more details.course

1 Any government grant that exceeds the maximumEnglish level of £3,250 counts as other income for thispurpose.

How do I apply for a Cambridge Bursary?Applying for a Bursary is straightforward. Youjust need to fill in a simple online applicationonce you arrive in Cambridge, and againonce for each academic year (by thedeadlines given). You will be asked whetheryou wish to use your Bursary towards yourliving costs or to reduce your tuition fee loan.

Will my Cambridge Bursary be renewedautomatically?No, you must submit an online application forrenewal each year. If your financialcircumstances are unchanged, your Bursarywill be renewed. If there have been changesto your financial circumstances, the value ofthe Bursary you’re eligible for will be re-calculated accordingly.

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Up to £25,000 £3,250 £3,500 £6,750£30,000 £2,341 £2,500 £4,841£35,000 £1,432 £1,500 £2,932£40,000 £523 £500 £1,023£42,600 £50 £50 £100

Over £42,600 £0 £0 £0

Household Government living cost grant Cambridge Totalincome (students from England) Bursary

10 www.cam.ac.uk

Cambridge Bursaries – EU Students

Who can apply for a European Bursary?There are several criteria that you must meetin order to be eligible for a European Bursary.It’s likely that you’ll be eligible if you cananswer ‘yes’ to each of the followingquestions:

• Have you met the conditions of your offerto study at the University of Cambridge(including any financial conditions)starting in October 2012 or later?

• Will this be your first full-timeundergraduate degree?

• Is the income of the family with whichyou live (the ‘household income’, seebelow) the equivalent of £42,600 per yearor less?

• Have you applied to the Student FinanceServices European Team for financialassistance to help with the cost of yourtuition fees?

What’s ‘household income’?For the European Bursaries, we define‘household income’ as the joint pre-taxincome of students’ parents (or those adultswho have taken responsibility for providingfinancial support) during the last calendaryear. You’ll need to get these figuresindependently verified for the purposes ofyour Bursary application.

How much will I receive?The Bursary amount that students receive iscalculated by taking the factors below intoaccount. Under current arrangements, yourEuropean Bursary amount will remain thesame for each year of your course.

Factors used to calculate Bursaries for EU students 2012–13

1. Your household • The maximum Bursary of £3,500 is available to students with aincome household income equivalent to £25,000 per year or less.

• If your household income is between £25,001 and £42,600 per year you’ll qualify for a lower level of Bursary, with the value/amount calculated according to your household income.

2. Your own • On the application form, you must declare all income from scholarships, income grants (including government grants), industrial sponsorship, charities,

and (where relevant) the renting out of your permanent home while you live in Cambridge. If this income exceeds £4,250 your Bursary amount will be reduced accordingly (see Bursary Scheme website for details).

3. Whether you’ve • When applying for a European Bursary, you’ll normally be asked to applied for demonstrate that you’ve applied to the Student Finance Services financial assistance European Team for tuition fee support.

4.Your age when • Some mature students (aged 21 or over) will qualify for a higher level you start your of Cambridge Bursary of up to £5,650 per year. Please see the Cambridge undergraduate Bursary website for more details.course

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How do I apply for a European Bursary?If you receive an offer of a place to study atCambridge, you’ll be sent an application formby your College together with the details ofyour offer. You’ll need to complete and returnthe application form to your College by thedeadline given (this will be a date in March2012).

You’ll receive a letter in the following June(2012) notifying you of the outcome of yourapplication and detailing any Bursary thatyou’ll receive. Your College will then make thenecessary arrangements for the amount toreduce your tuition fee or to be deductedfrom your College bill, accordingly.

Will my European Bursary be renewedautomatically?Your European Bursary will automatically berenewed at the same rate for three years. Ifyou’re taking a four-year course, you’ll need toreapply for a European Bursary at the start ofthe final year of your course.

Students from EnglandStudent Finance EnglandTelephone: 0845 300 5090www.direct.gov.uk/studentfinance/

Students from Northern IrelandStudent Finance NITelephone: 0845 600 0662www.studentfinanceni.co.uk

Students from ScotlandStudent Awards Agency for Scotland (SAAS)Telephone: 0300 555 0505www.saas.gov.uk

Students from WalesStudent Finance WalesTelephone: 0845 602 8845www.studentfinancewales.co.uk

Students from the EUStudent Finance Services European TeamTelephone: +44 (0) 141 243 3570www.direct.gov.uk/studentfinance/

Arrangements for financial support for students studying in the UKdiffer depending on where you’re from. You should contact therelevant organisation for more information and guidance.

Student finance information

Cambridge Admissions OfficeFitzwilliam House32 Trumpington StreetCambridge CB2 1QY

Telephone: 01223 333308Fax: 01223 746868Email: admissions@cam.ac.uk

www.cam.ac.uk

Details are correct at the time of publication (August 2011) but should be checked against the UndergraduateAdmissions website for up-to-date information.

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