Lancaster UniversityYear Abroad 2013/2014

Student Funding ServiceColleges and Student LifeStudent Based Services

Diane Shipperd Laura DaviesStudent Funding Adviser Student Funding Adviser

Applying for Student Finance Funding Support

- Loans and Grants Tuition Fees Lancaster University Awards Discretionary Funding (ALF) General advice/Budgeting

Application deadlines: Student Finance England – 28th June 2013 Student Finance Wales – 31st May 2013 Student Finance N.Ireland – 14th June 2013

• Applications made after the deadlines dates may result in your funding being delayed

• Log into Student Finance Onlinehttps://www.gov.uk/browse/education/student-finance

Applying for Student Finance

• Choose to be income assessed or non-income assessed

• Tick the box where you will be spending most of year, for example – Abroad

• Tick the box if you are an ERASMUS student

• Add placement name if known

• Paid or unpaid?

• Student Registry will inform Student Finance of your earlier start date

• First instalment is generally paid in early August

• Don’t forget to re-apply for the 2013/2014 academic year whilst you are abroad (you should do this online from February 2014)

Non-Erasmus Students

• Reduced Overseas rate of Non-Income Assessed Maintenance Loan only - £2780

• No Maintenance Grant entitlement

• Income assessed this year and received a Lancaster Bursary? – complete all sections of PR1

FUNDING SUPPORT(Paid or Unpaid Employment placement)

Erasmus Students

• Entitled to full government income assessed support

• May receive a small Erasmus non-repayable grant. Additional money to be treated as an “extra” for emergencies

FUNDING SUPPORT(Study/Employment placement)

Maintenance Loan

Maintenance Grant and Loan

Max amount of main maintenance loan will be reduced by £0.50 for every £1 of maintenance grant received--------------------------------Household income above £50,778 – contribution of £1 for each additional £5 of household income until 72% of full maintenance loan remains (£60,000)

FUNDING SUPPORT(Study/Employment placement - Erasmus)

Main Rate(100%)

Non-IncomeAssessed (72%)

IncomeAssessed (28%)

£5,895 £4,244 £1,651

Income Grant Loan

£25,000 £3,080 £4,355

£30,000 £2,050 £4,870

£34,264 £1,170 £5,310

£40,000 £780 £5,505

£45,000 £439 £5,675

£50,706 £50 £5,870

£50,778 £0 £5,895

• Usually, no need to re-apply for funding

• Automatically assessed and sent a Notification of Entitlement letter at end February

• Check details are correct - Log into Student Finance Onlinehttps://www.gov.uk/browse/education/student-finance

• Make any amendments if necessary

Non-income assessed this year?

• Income assessed and non-repayable

• Up to 3 return flights

• Necessary daily travel costs

• Mandatory medical tests (where condition of entry)

• Medical insurance

• Disregard of £303 (you pay first £303 of expenses)

• All are subject to being “reasonable”

• You must supply receipts and details of travel

• Reimbursements paid into your bank account

Travel Grant

UK/EU Students

• Study Placement (non Erasmus)£1,725

• Study Placement (Erasmus) £0

• Employment Placement (full year)(non Erasmus) £750

• Employment Placement (full year)(Erasmus) £0

http://www.lancs.ac.uk/users/studreg/undergrads/ugfees.htm

Islands students – rates TBC in Spring 2013

TUITION FEES

Overseas Students

• Study Placement (Band 1) £6,320• Study Placement (Band 2) £7,340• Study Placement (Band 3) £7,925•• Employment Placement (Band 1) TBC• Employment Placement (Band 2) TBC• Employment Placement (Band 3) TBC

http://www.lancs.ac.uk/users/studreg/undergrads/ugfees.htm

TUITION FEES

• LU Awards – assessed and awarded automatically, no need to apply

• LU Bursary - £500, £1,000, £1,005 or £1,315 – based on household income and year of entry

• Consent to share 0845 603 4016

• LU Scholarship – based on A-level entry or equivalent and continued academic progress (2011 cohort receive Scholarship in first year only)

LANCASTER UNIVERSITY AWARDS

• Access to Learning Fund

• You must have taken out full loan entitlement• Your income will be means tested (not your

parents)• Funding Notification Letter, Rent Contract and 3

months bank statements• Form available at:-

http://www.lancs.ac.uk/sbs/funding/database.html

Additional Discretionary University Funds

• Things to consider:

• Larger loan, but it has to last longer.

• Does your host institution have an obligatory meal plan? Do you have to pay in advance?

• Do you have to pay for obligatory health insurance through your host institution?

• Does your host institution allow payment of rent by instalments? Do you have to pay a deposit?

• Keep all your detailed receipts to give to: SFE/SFW/SFNI/SAAS. Re-imbursement of costs will not be made without receipts.

General Advice/Budgeting

Insurance/Medical Matters

make sure it covers all your needs SFE/SFW/SFNI/SAAS will usually cover 40% of

standard premium arrange vaccinations in good time have a dental check up before you go have your eyes tested before you go if you wear contact lenses see if supplies can be

posted out to you by the optician or family take any doctor or optician prescriptions with

you in case of emergencies if you are on long term medication see if you are

allowed to take enough supplies to last the year, or perhaps family could post them to you

Check to see if you have to take out an obligatory health insurance plan with your host institution

Money• see if your bank charges for using ATM machines

abroad, most do

• if your bank does charge for ATM use, try to take cash out just once a week (also helps with budgeting!)

• keep an eye on the exchange rate

• consider on-line banking to enable you to keep track of your spending

• Make sure you have told your bank you are going abroad

• You may find living costs are cheaper in the country you are studying in so your money may go further

• Check moneysaving expert http://www.moneysavingexpert.com/

Rates of Exchange (as at 7.2.13)

• Argentina 1 GBP = 7.80 Argentinian pesos (ARS)

• Australia 1 GBP = 1.51 Australian dollars (AUD)

• Canada 1 GBP = 1.56 Canadian dollars (CAD)

• Europe 1 GBP = 1.15 European Euros (EUR)

• Hong Kong 1 GBP = 12.14 Hong Kong dollars (HKD)

• Mexico 1 GBP = 19.78 Mexican peso (MXD)

• New Zealand 1 GBP = 1.85 New Zealand dollars (NZD)

• Singapore 1 GBP = 1.94 Singapore dollars (SDG)

• USA 1 GBP = 1.57 US dollars (USD)

Ref: http://www.expedia.co.uk

USEFUL WEBSITES

Student Finance Englandhttp://www.studentfinancedirect.co.uk/

Student Finance Northern Irelandhttp://www.studentfinanceni.co.uk/

Student Finance Waleshttp://www.studentfinancewales.co.uk

Student Awards Agency for Scotlandhttp://www.saas.gov.uk/

Currency converterhttp://www.xe.com/ucc/

LU - tuition feeshttp://www.lancs.ac.uk/users/studreg/undergrads/ugfees.htm

Budgets http://www.lancs.ac.uk/depts/international/abroad/finance.htm

LU – Access to Learning Fundhttp://www.lancs.ac.uk/studentservices/funding/alf.htm

LU – Bursaries and Scholarships awardshttp://www.lancs.ac.uk/sbs/funding/uniawardfaqs.htm

LU – funding databasehttp://www.lancs.ac.uk/sbs/funding/database.html

LU Student Based Services Financehttp://www.lancs.ac.uk/sbs/funding/

General LU information for outgoing studentshttp://www.lancs.ac.uk/depts/international/abroad/index.htm

Erasmus Grant

http://www.lancs.ac.uk/study/international-students/study-abroad/outgoing/erasmus-outgoing/

Information, Advice and Guidance

Website: www.lancs.ac.uk/sbs/fundingEmail: studentfunding@lancaster.ac.ukHelpline:01524 (5)94848

Student FundingService