student finance schools and colleges liaison oxford brookes university
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STUDENT FINANCE
Schools and Colleges Liaison
Oxford Brookes University
MAIN TOPICS
What are the costs?
How will students pay for it?
What are the repayments?
WHAT ARE THE COSTS?
Two main costs:
Tuition Fees
Living Costs
TUITION FEES
£6,000 - £9,000 per year (2015 entry)(Check individual universities and courses for details)
Oxford Brookes University
£9,000 per year(Undergraduate degrees taught at Oxford Brookes)
FOUNDATION DEGREES
Foundation degree costs may differ to onsite degrees
Oxford Brookes University
£6,000 per year / £7,000 per year for top up year
(Foundation/Bachelor degrees taught in Further Education Colleges)
LIVING COSTS
HOW WILL STUDENTS PAY FOR IT ALL?
LOANS Non-RepayableSources
Tuition fee loan
Maintenance loan
Bursaries
Scholarships
HOW WILL STUDENTS PAY FOR IT ALL?
LOANS Non-RepayableSources
Tuition fee loan
Maintenance loan
Bursaries
Scholarships
TUITION FEE LOAN
£6,000 - £9,000 per year
Tuition fee available to all
Fees are paid directly to the
university
MAINTENANCE LOAN
To help pay for living costs
All full-time UK students eligible
(for 45-50%)
Means-tested
(50-55%)
MAINTENANCE LOAN ALLOWANCE
Household IncomeUnder £25,000
Household Income£62,180 & over
Students living at home with parents
£6,904 £3,039
Students living away from home(Outside of London)
£8,200 £3,821
Students living away from home(Studying in London)
£10,702 £5,330
MAINTENANCE LOAN BREAKDOWN
HOW DO THE LOANS WORK?
Loans combined into one amountRepayments start:
• April after the course finishes
• Student earning at least £21,000 per year
HMRCInterest Rates
Loan wiped after 30 years
REPAYMENTS
Repay tuition fee and maintenance loan at:
9% of income over £21,000
Salary Repayment
Up to £21,000 No repayment
£25,000 £30 per month
£30,000 £67 per month
£50,000 £217 per month
PAYSLIP
Name Mr. A. Non Pay Date 28th April
NI number NI12345A Tax Code AB12
Earnings Deductions
Salary £2,083.33 Tax £292.08
National Insurance £177.72
Student Loan £30.00
Total Pay £2,083.33 Total Reductions £499.80
Net Pay £1,583.53
HOW WILL STUDENTS PAY FOR IT ALL?
LOANS Non-RepayableSources
Tuition fee loan
Maintenance loan
Bursaries
Scholarships
BURSARIES AND SCHOLARSHIPS
Hallsdiscount
Fee waivers
Cash bursaries
University specific financial packages
Check university websites for details
APPLICATION NOT DEPENDENT ON HOUSEHOLD INCOME
Applying for:
o Tuition Fee loan and
o Basic maintenance loan (non means-tested)
Student can fill in application without parental information
APPLICATIONS DEPENDENT ON HOUSEHOLD INCOME
Before starting online application, the following information is needed:
Passport (do not send) OR Birth Certificate
University and Course details
Bank account details
National Insurance number; and
Parent’s or partner’s National Insurance number and income details (parents must also register)
Applications cannot be processed until all information given
APPLYING FOR STUDENT FINANCE
1
2
3
Fill in and send application online:www.gov.uk/studentfinance
Application assessed
4The student will not receive instalments until they have enrolled with a university
Student Entitlement and Declaration letter sent
NHS AND SOCIAL CARE COURSES
Tuition paid in full (Nursing, Midwifery, Occupational Therapy, Operating Department Practice and Physiotherapy)
Grant and Loan (non-means tested)
Bursary (means tested)
Social Care
http://www.nhsbsa.nhs.uk/Students/825.aspx
OXFORD BROOKES UNIVERSITYFINANCIAL SUPPORT (2015 ENTRY)
Oxford Brookes Bursary Up to £5,000
Community Scholarship £1,000 (for Oxfordshire state schools and (1st year only)
colleges only)
Transition from Care Bursary Up to £2,000 (per year)
Free Brookes Bus Pass (If paying £9,000 tuition fees)
Mandatory Field Trips Included in course fee
OTHER HELP
Access to Learning Fund(One off-payment)
Disabled Student Allowance
www.direct.gov.uk/studentfinance
Processed by Student Finance England
Student Services can help
Support available for dyslexic students
EXTRA INCOME
EXTRA INCOME
Student Account Overdraft
Credit Card
BUDGETING!Expense (Per Week) How Much?Rent £ Utility Bills £Phone Bills & Internet £TV Licence £Travel £Books & Materials (inc. printing) £Insurance £Clothes, Shoes, Haircuts £Music & Films £Gym & Sports £Nights out & Social £Food & Toiletries £
TOTAL £
HOW TO SAVE MONEY!
NUS Card
Bulk Buy
Value Food
Mobile Phone tariff
16 – 25 Railway Card
BENEFITS
It opens doors
Gain a qualification
More employers require you to have a degree
Meet new people
Learn new skills
On average, graduates will earn
more than non-
graduatesIt’s your choice!
Men Women
Ave
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(£10
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USEFUL WEBSITES
Government: www.gov.uk/studentfinance
Student Room: www.thestudentroom.co.uk/studentfinance
Brookes: www.brookes.ac.uk/studying/finance
NHS: www.nhsbsa.nhs.uk/students(NHS and Social Care courses)
Money Saving Expert: www.moneysavingexpert.com/students
www.unipodadvice.com
ALL YOU NEED TO KNOW ABOUT UNIVERSITY