Embed Size (px)
DESCRIPTION
Presentation from the Student Finance team at City University London about student finance and funding options for undergraduate students at City. City offers a wide range of scholarships and bursaries - see www.city.ac.uk/study/undergraduate/funding-and-financial-support. Presentation was given as part of the programme of the City University London Undergraduate Open Day on 2nd July 2014
Citation preview
Academic excellence for business and the professions
Student Finance 2014/2015
Wednesday 2nd July 2014
What is Student Finance?
This is the money available to you from the Government to help you fund your studies
Tuition feesCourse materialsLiving expenses
Tuition Fees
Course type Maximum tuition fee and loan rate
Full-time undergraduate course £9,000
Part-time undergraduate course £6,750
Foundation course £4,500
• £9,000 for full-time undergraduate courses• Payable by non-means tested tuition fee loan• Available to all UK and EU students• Paid directly to the university
Course materials and expenses• Books• Printing, portfolios• Internet access• Laptop, printer, scanner• Specialist equipment• Study abroad programmes
Weekly living expenses Expense Away from home At home
Accommodation/contribution £186 £35
Food £40 £25
Travel £21 (zones 1-2) £30 (zones 1-4)
Course materials £7 £7
Mobile £8 £8
Miscellaneous £40 £40
Total per week £302 £145
Maintenance Loan
Where you will live Max loan rateAway from home, studying in London £7,751
At home £4,418
Study abroad year £6,600
•Towards accommodation, food, travel and course materials•Available to full-time UK Home students•65% non-means tested - up to £5,038•35% means tested – up to a further £2,713•Paid at the start of each term
Student loan repayment•Tuition fee and maintenance loans are combined•Repayment begins April after graduation•9% of salary above £21,000•Interest is charged at 3% plus inflation•All loans written off after 30 years
Annual Salary Amount of salary from which 9% will be deducted
Monthly repayment
£21,000 £0 £0
£25,000 £4,000 £30
£30,000 £9,000 £67.50
£40,000 £19,000 £142.50
Maintenance Grant
Where you are living Maximum MaintenanceGrant
Maximumloan entitlement
Total funding
Away from home, studying in London
£3,387 £6,058 £9,445
At home £3,387 £2,725 £6,112
•Household income ≤ £42,611 •Full grant ≤ £25,000•Partial grant £25,001 to £42,611•Loan substitution - Maintenance Grant only•Special Support Grant - students with children and/or disability
Dependent Allowances
Allowance/Grant Amount
Childcare Grant £150.23 per week (1 child)£257.55 per week (2 or more)
Parents Learning Allowance £1,523 per year
Adult Dependants’ Grant £2,642 per year
Child Tax Credits Variable (£60 per week)
Disabled Students’ Allowances (DSAs)
• Mental health conditions and specific learning difficulties• Additional study related expenses• Needs based • Full and part time students are eligible
Allowance type Max amount per year
General disabled student allowance £1,741
Specialist equipment allowance £5,212
Non-medical helper's allowance £20,725
Extra travel costs Variable
Learning Success Team: specialist support - Disabilities, Dyslexia, Mental Health and Wellbeing, Academic Learning Support
Application process
National Scholarship Programme 2014/15• £1.2M • 200+ awards available worth £6,000 each • Paid as £3,000 tuition fee waiver and £3,000 student choice
• Eligibility criteria: • Home/UK students ordinarily a resident in England;• Household income equal to/less than £16,000;• New undergraduates starting in 2014/15.
• Application:• UCAS application• Student Finance application• Consent to Share
ScholarshipsScholarship Eligibility criteria Amount
Lord Mayor of London Scholarships for Academic Excellence
UK/EUABB+
Up to £3,000 per academic year
City Undergraduate Accommodation Bursary
New UK/Home 2014/15In receipt of Maintenance GrantCity nominated Halls
£2,000 per academic year
Sir John Cass's Foundation Lord Mayor's Scholarship Programme
UK residentUnder 25 yearsInner London boroughsSpecific subjects
Up to £7,000 per academic year
More scholarships…
• School scholarships
• External sponsors
• Paid towards tuition fees or maintenance costs
• Based on financial need and/or academic merit
• www.city.ac.uk/scholarships
Case study 1
Income Per academic year
Per week
Loan £6,058 £155
Grant £3,387 £86
Part-time job £1,870 £48
Total £11,315 £289
Weekly expenses Amount
Accommodation (Liberty Court)
£185
Food £40
Travel(zones 1-2)
£21
Course materials £7
Mobile £7
Entertainment £20
Miscellaneous £15
Total £285
Andrew Living in halls
Case study 2
RachelLiving at home
Weekly expenses
Amount
Contribution at home
£30
Food £25
Travel(zones 1-4)
£31
Course materials
£7
Mobile £8
Entertainment £25
Miscellaneous £15
Total £141
Income Per academic year
Per week
Loan £2,725 £69
Grant £3,387 £86
Total £6,112 £155
NUS Discounts
Money Management Tips
• Keep a budget
• Find cheaper alternatives second-hand books, packed lunches, cycle/walk
• Student bank account with an interest-free overdraft
• Find part-time employment
• Minimise excessive spending
City University London Hardship Fund
• Discretionary financial assistance • Financial hardship• Unexpected financial emergencies • Priority for vulnerable groups• Maximum award around £1,000
Further information
• Student Finance England (SFE)
www.direct.gov.uk/studentfinan
ce
• Online Student Calculator
www.studentcalculator.org.uk
• Money Advice
www.moneysavingexpert.com
• Mobile Apps
www.play.google.com
Questions
[email protected] www.city.ac.uk/studentcentre
WHAT HAPPENS IF I CHANGE MY COURSE?
HOW LONG WILL IT TAKE TO PROCESS MY APPLICATION?
CAN I RECEIVE MORE THAN ONE SCHOLARSHIP?
MY HOUSEHOLD INCOME HAS CHANGED, WHAT HAPPENS NOW?
WHAT FUNDING CAN I GET FOR A 2ND DEGREE?
WHAT FUNDING CAN EU STUDENTS GET?
