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Where Next?

Preparing for Higher Education

Parents Information Evening

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Thinkfutures.net

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Big Decisions

Some people spend more time planning their

holidays than planning their future.....but our

students will spend more of their awake

hours in work for the next 40 years at least

Students will need to use all the tools at their

disposal to help them make their big decisions

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Planning the Journey:

Why and How Much?

Why go to

university?

How much will it

cost?

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Why should your child go to university

Education enhances life chances

Qualifications lead to better and

more opportunities:BA Hons, BSc Hons, BA, BSc,HND, DipHE, Foundation Degree

Between 2-5 years

Vocational & Academic Courses

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Graduates....

Lower unemployment rates (less than 50%than that of non graduates)

A wider choice of role in their chosen career

More opportunities for work experience Gain independence, life and social skills

Broadened horizons

Enjoy university experience Greater support networks, professionally,

socially and academically

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Graduates....

The Graduate Premium

An average of 12,000 salary per year

more than non graduates

Over a life time an average of 500,000

more salary than non graduates

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BUT

Success is NOT guaranteed

Not all students complete the course

Getting a good university place is very

competitive

Graduates do not always get graduate jobs

Higher education incurs costs Forgoes earnings for a minimum of 2 years

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The Costs of Going to University

Tuition Fees

payable directly to the institution by the Student

Loans Company

Maintenance Costs

Travel, Accommodation, Food, Equipment

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How can we afford it?

BORROWING STUDENT LOAN COMPANY Tuition Fees

Maintenance Loans

BORROWING COMMERCIAL LENDERS Overdrafts

Short Term Loans

FREE MONEY

Grants Bursaries

Scholarships

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Student Loans

http://www.bournemouth.ac.uk/futurestuden

ts/microsites/facts_about_fees/index.html

http://www.bournemouth.ac.uk/futurestudents/microsites/facts_about_fees/index.htmlhttp://www.bournemouth.ac.uk/futurestudents/microsites/facts_about_fees/index.htmlhttp://www.bournemouth.ac.uk/futurestudents/microsites/facts_about_fees/index.htmlhttp://www.bournemouth.ac.uk/futurestudents/microsites/facts_about_fees/index.htmlhttp://www.bournemouth.ac.uk/futurestudents/microsites/facts_about_fees/index.html

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Student Loans

Currently 80% of students take out a loan

The debt belongs to the student

Tuition Fees Course costs payable directly to the university by

the Student Loans Company

Living Costs

Paid into the students bank account at the start of

each term

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Student Loans

Tuition Fee Loan Maximum of 9000 per

year

Maintenance Loan Maximum 5500 if live away from

home outside London

Maximum 7675 if live away from

home in London Maximum 4375 if you live at home

while studying

Accrue interest at 3% + rate of inflation

Repayable on graduation, once earning 21000 a year or more

Repayments are 9% of any income over 21000, so at 25000

36 repayment per month

After 30 years any outstanding amount is written off

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On line Resources

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Grants

Non Repayable

Maximum 3354

Directly linked to household income If less than 25000 full grant

If more than 42500 nothing

Paid into student bank account at the start ofeach term

Annual application

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On line Resources

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Bursaries & Scholarships

Financial support from universities and otherorganisations to selected students

Need based less well off families

Merit based meet specified criteria Career specific for different courses

Cash payments for living costs/ equipment

Varying amounts 200- 5000

Non Repayable

Annual application

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On line Resources

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Not a financial adviser

Do the research

Complete all the application administrationbefore the deadlines

If you are going to need to borrow borrowfrom the Student Loan Company

Apply for all the available bursaries/

scholarships If you are going to repay early, pay off

everything else first

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Help and Support

Sixth Form Team

Form Tutors

Learning Mentors Connexions Personal Advisers

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