www.gov.uk/studentfinance

2015/16

STUDENT FINANCE 2015/16A PRACTITIONERS INTRODUCTION

2015/16

• Section 1 – The Student Finance Package

• Section 2 – Additional Support

• Section 3 – Student Loan Repayment

• Section 4 – Application Information

• Section 5 – Resources

SESSION CONTENTSi

2015/16

THE STUDENT FINANCE PACKAGE 2015/16

SECTION 1

2015/16

BURSARIES & SCHOLARSHIPS

MAINTENANCE SUPPORT

TUITION FEE LOAN

ADDITIONAL SUPPORT

THE STUDENT FINANCE PACKAGESUPPORT AVAILABLE TO STUDENTS INCLUDES:1

All figures used in this section are subject to final parliamentary approval of 2015/16 student finance policy

2015/16

SECTION 1 TUITION FEES & LOANS

2015/16

*Publicly funded institutions with an approved Offa Access Agreement - www.offa.org.uk/access-agreements

TUITION FEES & LOANSOVERVIEW1

• The maximum tuition charges for full-time courses will be maintained at £6,000, or £9,000*

• Maximum Tuition Fee Loans for full-time courses will also be maintained at £9,000 (or £6,000 for specifically designated courses at private institutions)

• The Tuition Fee Loan doesn’t depend on household income

• SLC pay any Tuition Fee Loan requested directly to a university or college so eligible students shouldn't have to pay any fees upfront

2015/16

Policy for students starting their courses on or after 1st September 2012:

• Students on sandwich placements will be charged 20% of the maximum full-time tuition charge – Maximum charge of £1,800

• Students on Erasmus placements will be charged 15% of the maximum full-time tuition charge – Maximum charge of £1,350

• Students on overseas placements will be charged 15% of the maximum full time tuition charge – Maximum charge of £1,350

TUITION FEES & LOANSSANDWICH & PLACEMENT YEARS1

2015/16

PART-TIME STUDENTSSECTION 1

2015/16

1• Publicly-funded universities or colleges can charge up to a

maximum tuition fee level of £6,750 a year for part-time courses*

• New, eligible part-time students can apply for a non means tested loan to cover the cost of their tuition at these institutions

• The actual amount charged will depend on the intensity of a course

• Course intensity is how long it takes to complete a part-time course compared to the equivalent full-time course

• Students starting designated P/T courses provided wholly by a private university or college can apply for up to £4,500 in Tuition Fee Loan

*With an Offa approved Access Agreement

TUITION FEES & LOANSOVERVIEW

2015/16

• Part-time students will not be entitled to a loan or grant towards living costs but can access Disabled Students’ Allowances (DSAs)

• Bursaries or scholarships offered by universities and colleges may provide additional support based on factors such as income or academic achievement

• Continuing students whose course began before September 2012 can still apply for a means-tested fee and course grant

Students should contact their Jobcentre Plus or Department forWork and Pensions for an on-going benefit eligibility assessment

Part-time study & benefits • Part-time students can usually still claim benefits that depend on

household income (means-tested benefits) such as; Universal Credit, Income-based Jobseekers Allowance or Housing Benefit if unemployed

1 OTHER SUPPORTFOR PART-TIME STUDENTS

2015/16

SECTION 1 MAINTENANCE SUPPORT

2015/16

• Maintenance support is available to help with living costs a studentwill face while in higher education

• Two main types of support are available, Maintenance Loan and Maintenance Grant

• The Maintenance Loan is repayable and all eligible students are entitled to receive some funding

• The loan level available depends on where a student lives and studies

• Maximum Maintenance Loan levels for 2015/16 have been increased

by 3.34%

1 MAINTENANCE SUPPORTOVERVIEW

2015/16

Up to

£4,565

MAINTENANCE LOANEXAMPLE 2015/16 MAXIMUM RATES1

Up to

£5,740

Up to

£6,820

Up to

£8,009

2015/16

Full-Year Student*

65% Non Means Tested

35% Means Tested

Maximum Loan

Parental Home £2,967 £1,598 £4,565

Elsewhere £3,731 £2,009 £5,740

London £5,205 £2,804 £8,009

Overseas £4,433 £2,387 £6,820

MAINTENANCE LOANMEANS TESTING1

Additional loan is available for each extra week of study forstudents attending their course beyond 30 weeks

*Lower rates are available to final year students

2015/16

• The maximum Maintenance Grant will be maintained at £3,387

• How much grant a student can get depends on their household income (100% means tested)

Existing household income thresholds maintained for 2015/2016:

MAINTENANCE SUPPORT

Household Income:Up to £25,000

Household Income:Up to £42,620

Full Grant of £3,387

Partial Grant

1 MAINTENANCE GRANTOVERVIEW

The maximum Special Support Grant, which is paid to certain students eligible for benefits will also be maintained at £3,387

2015/16

A student is considered independent if:• They have care of a person under the age of 18 on the first day of

the academic year for which they are applying for support

• They’re 25 or over on the first day of the academic year for which they are applying for support

What does being an independent student mean?• Student Finance England will not take any parental income into

account when assessing student entitlement for support

• If married or in a civil partnership, SFE will take into account the income of the students husband, wife or civil partner

GENERAL ELIGIBILITYINDEPENDENT STUDENTS1

2015/16

A student is considered independent if:• They’ve been married or formed a civil partnership before the start of

the academic year even if that marriage or civil partnership has ended

• They have no living parents

• They’ve supported themselves for at least three years before the start of their course

• They’ve not communicated with their parents for one year before the beginning of the academic year for which they are applying for support, or can demonstrate a permanent estrangement from their parents

GENERAL ELIGIBILITYINDEPENDENT STUDENTS - CONTINUED1

2015/16

A student is considered independent if:• Their parents cannot be traced or it is not practical or possible to

contact them

• Their parents live outside of the EC and an income assessment would put them in jeopardy, or if not reasonably practicable for them to send funds to the UK if a contribution were assessed

• Subject to certain exceptions, they were looked after by a local authority throughout any three month period ending on or after the date on which they turned 16 and before the first day of the first academic year of their course

GENERAL ELIGIBILITYINDEPENDENT STUDENTS - CONTINUED1

2015/16

Household Income

Maintenance Grant

Maintenance Loan

Total

£25,000 & under £3,387 £4,047 £7,434

£30,000 £2,441 £4,520 £6,961

£35,000 £1,494 £4,993 £6,487

£40,000 £547 £5,467 £6,014

£42,620 £50 £5,715 £5,765

£42,875 £0 £5,740 £5,740

£50,000 £0 £4,998 £4,998

£62,143 & over £0 £3,731 £3,731

COMBINED MAINTENANCE SUPPORTLIVING AWAY FROM HOME, OUTSIDE LONDON1

Students can get a quick estimate of their student finance entitlement using the calculator on gov.uk/studentfinance

2015/16

BURSARIES & SCHOLARSHIPSSECTION 1

2015/16

Many universities and colleges offer financial support to their studentsthrough bursaries and scholarships

Bursaries:• Linked to personal circumstances and often, household income• Awards can include fee reductions, discounted accommodation or cash

Scholarships:• Often based on academic results or ability in sport, art or music etc..• Can be subject specific and are limited in numbers

BURSARIES & SCHOLARSHIPSBURSARIES & SCHOLARSHIPSOVERVIEW1

Students should check university websites early and ask at open days for information on support available and how to apply

2015/16

BURSARIES & SCHOLARSHIPSSTUDENTS LEAVING CARE – BUTTLE TRUST

www.buttleuk.org/pages/quality-mark-for-care-leavers.html

1

2015/16

ADDITIONAL SUPPORTSECTION 1

2015/16

Extra money or support may be available to students if they:

• Have children or adults dependent on them

• Have a disability, long-term health condition, mental-health condition or specific learning difficulty

• Are studying an NHS or Social Work course

• NHS courses include:Nursing, midwifery, physiotherapy, chiropody, dietetics, radiography, occupational therapy, the later stages of medicine and dentistry

For further information and applications students should visit:www.nhsbsa.nhs.uk/students

ADDITIONAL SUPPORTOVERVIEW2

2015/16

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 need to be aware the DSA application process can take up to 10 weeks!

ADDITIONAL SUPPORTDISABLED STUDENTS’ ALLOWANCES2

2015/16

Maximum DSA rates maintained for 2015/16:

AllowancePart-Time Maximum Support

Full-Time Maximum Support

Frequency of

Payment

Non-medical personal helper

£15,543 £20,725 Annual

Specialist equipment £5,212 £5,212Duration of

Course

Other disability-related expenditure

£1,305 £1,741 Annual

Disability related travel

No Limit – Reasonable spending can be claimed

For both full-time and part-time postgraduate students there is a single allowance of up to £10,362 a year

ADDITIONAL SUPPORTDISABLED STUDENTS’ ALLOWANCES2

2015/16

Childcare Grant:Based on 85% of actual registered/approved childcare costs up

tomaximum of: £155.24 per week for one child

£266.15 per week for two or more children

Parents’ Learning Allowance:Help with course-related costs for students with dependent

childrenAmount received will be between £50 and £1,573

Adult Dependants’ Grant:Normally for the student’s partner. Can be for another adult who is financially dependent on the student where the adult’s net income is not more than £3,796 p.a. Maximum grant available: £2,757

The maximum Dependants Grant levels will be increased by 3.34% for 2015/16

ADDITIONAL SUPPORTSTUDENTS WITH DEPENDANTS’2

2015/16

• Proposals submitted for Sharia law compliant finance system

• Student Finance Wales service and launch of part-time applications

• Changes to DSA’s (funding will no longer be provided for)

• Standard specification computers, software, associated peripherals and associated warranties/insurance

• Non-specialist non-medical help (NMH) support or general consumable items

STUDENT FINANCE POLICYPOINTS OF INTEREST2

Updates and student support information notices can be found at:www.practitioners.slc.co.uk/policy-information.aspx

2015/16

SECTION 3 STUDENT LOAN REPAYMENTS

2015/16

• Students won’t make repayment contributions until their income is over £21,000 a year (£1,750 pm) gross

• Full-time students will begin to repay in the April after graduating from/leaving their HE course (from April 2016 at the earliest)

• Part-time students enter repayment in the April 4 years after they started their course, or the April after they leave their course*

• Repayments will be a basic 9% of income earned over £21,000, but if income falls to £21,000 or below, repayments will stop

• Early repayments can be made at any time, but any outstanding loan balance will be written off 30 years after entering repayment

STUDENT LOAN REPAYMENTSAN OVERVIEW3

*whichever comes first

2015/16

£30Monthly

Repayment?£4,0009%

Deducted from?

Income each year before tax

Income from which 9% is deducted

Monthly Repayment

(Approx)

£21,000 £0 £0

£30,000 £9,000 £67

£40,000 £19,000 £142

£50,000 £29,000 £217

£60,000 £39,000 £292

STUDENT LOAN REPAYMENTSTHE FIGURES

Interest will be applied to the loan at a maximum rate of RPI +3% More info can be found on: www.studentloanrepayment.co.uk

3

Income£25,000 ££

2015/16

Interest added will vary, depending on a students circumstances:

During study until

entering repaymentInterest rate is:

Retail Price Index (RPI) +3%

Income:

Below £21,000

Interest rate is: Set at RPI Only

Income:

£21,000 to £41,000

Interest rate is:RPI plus up to 3%

Income:

Above £41,000

Interest rate is: Retail Price Index (RPI) +3%

The interest rate applied is updated once a year in September, using the rate of RPI from that March which is carried forward

STUDENT LOAN REPAYMENTSTHE INTEREST3

2015/16

www.studentloanrepayment.co.uk

3 STUDENT LOAN REPAYMENTSDEDICATED WEBSITE

2015/16

SECTION 4 APPLICATION INFORMATION

2015/16

Each year thousands of students are late in applying for their finance and

have no way to pay for their course or halls, some even have to drop out..

...Key messages to communicate to students include!

• It will take at least six weeks* to process an application so apply early!

• Apply online at gov.uk/studentfinance to make sure that their student finance is in place for the start of their course

• They don’t need a confirmed place at university or college to apply for student finance

• Apply with their first choice, they can change details later if they need to

STUDENT FINANCE APPLICATIONS KEY MESSAGES – APPLY EARLY4

*SFE handle over 1 million applications a year, most involve interactions with other government departments e.g. HMRC

2015/16

www.gov.uk/studentfinance

GOV.UKFOR MORE INFORMATION & TO APPLY4

2015/16

• Make a note of their account log-in details and keep them safe

• Agree to share information from their application, this helps apply for many bursaries and some scholarships

• Make sure any evidence and information needed to support anapplication is supplied first time (students and parent/partners’)

• Submit an application even if there is a delay in getting income details from parent/sponsors so some funding (Tuition and Maintenance Loan) will be available when they start their course

• If SFE request any additional evidence or documents to support the application use recorded delivery!

4 STUDENT FINANCE APPLICATIONS KEY MESSAGES – GET IT RIGHT FIRST TIME

2015/16

APPLICATION INFORMATIONCOMPLETING AN APPLICATION

Before starting an application, students should have the following to hand:

• Passport - SFE can check identity using valid UK passport details • University and course details• Bank account details and National Insurance number

The easiest way for parents or other sponsors to support a studentsapplication is online through GOV.UK, providing information including:

• National Insurance number(s)• Household income information (Based on prior tax year)• Details of other child dependants

If sponsors can’t submit details online, they should send a paperapplication form and copies of financial evidence - P60’s etc...

4

2015/16

STUDENT FINANCE APPLICATIONSAUTOMATICALLY ISSUED SPONSOR EMAIL4

2015/16

www.thestudentroom.co.uk/studentfinance

www.youtube.com/SFEFILM

www.twitter.com/sf_england

www.facebook.com/SFEngland

SFE ONLINEFOR FURTHER INFORMATION & RESOURCES4

2015/16

SECTION 4 APPLICATION INFORMATIONNEXT STEPS

2015/16

Following assessment, SFE send important documentation to the studentregarding their application and financial entitlement:

Entitlement Letter:• Once an application is assessed we send the student an entitlement

letter highlighting the student finance they can get

• Students should keep this letter as they might have to show it to theiruniversity or college when they register

Online Declaration:• If the student applied online, the letter will also include a declaration

students must sign and return to us

NEXT STEPSSFE DOCUMENTATION4

2015/16

NEXT STEPSCHANGE OF CIRCUMSTANCES4

Submitted Applications (Not yet approved)

Before their course start date studentscan amend most of their applicationdetails, including:

• Course/University or College

• Loan requests and personal details

• Cancel their application if necessary

Making changes depends on the status of an application/course start date:

2015/16

Submitted and Approved Applications - Before Course Start DateStudents can:• Change/cancel application and update personal details• Change course or University/College• Change loan amount (the amount the student wants to borrow)

Approved Application - After course start dateStudents can make basic changes to their application and loan amountrequested (via Loan Request Form)

However, students must contact their HEI if they wish to:• Change their course (Course and HEI transfer)• Take a break, withdraw from, or return to a course• Change Tuition Fee charged by the HEI (Prior to the term start date)

NEXT STEPSCHANGE OF CIRCUMSTANCES4

Full online CoC functionality will be available by the end of June (links currently available to relevant paper forms)

2015/16

PRACTITIONER RESOURCESSECTION 5

2015/16

www.practitioners.slc.co.uk

5 PRACTITIONER RESOURCESDEDICATED WEBSITE

2015/16

Access and download our wide range ofIAG resources, including:

• Suite of Factsheets

• Series of Full and Quick Guides

• PowerPoint Presentations

• Videos and Marketing Materials

• Policy Documents and SFE Updates

PRACTITIONER RESOURCESDEDICATED WEBSITE5

2015/16

5 PRACTITIONER RESOURCESSTUDENT APPLICATIONS – MOCK ACCOUNT

2015/16

www.slc.co.uk

www.heiinfo.slc.co.uk

5 PRACTITIONER RESOURCESOTHER USEFUL WEBSITES

2015/16

Student Finance Advisers:Our team of dedicated regional advisers work closely with key partners

across England to deliver a range of Matrix accredited services

including:

• Staff development through bespoke training, • Advice and support with SFE resources, policy and processes

If I can support you and your colleagues with any area of student finance

IAG delivery, please do get in touch:

Email: ben_rutter@slc.co.uk Tel: 075544 58871

www.practitioners.slc.co.uk/regional-support

PRACTITIONER RESOURCESSUPPORT FOR PRACTITIONERS

Practitioner Helpline: For detailed/complex regulatory advice and particularly complex assessment enquiries – 0300 100 0618

5

www.gov.uk/studentfinance

NEED MORE INFORMATION?iiFor further Information on student finance and

applications go to:www.gov.uk/studentfinance

For a range of helpful tools, resources and guidance, visit:

www.practitioners.slc.co.uk

2015/16