student finance schools and colleges liaison oxford brookes university

30
STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

Upload: darlene-wheeler

Post on 05-Jan-2016

215 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

STUDENT FINANCE

Schools and Colleges Liaison

Oxford Brookes University

Page 2: 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?

Page 3: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

WHAT ARE THE COSTS?

Two main costs:

Tuition Fees

Living Costs

Page 4: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

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)

Page 5: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

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)

Page 6: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

LIVING COSTS

Page 7: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

HOW WILL STUDENTS PAY FOR IT ALL?

LOANS Non-RepayableSources

Tuition fee loan

Maintenance loan

Bursaries

Scholarships

Page 8: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

HOW WILL STUDENTS PAY FOR IT ALL?

LOANS Non-RepayableSources

Tuition fee loan

Maintenance loan

Bursaries

Scholarships

Page 9: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

TUITION FEE LOAN

£6,000 - £9,000 per year

Tuition fee available to all

Fees are paid directly to the

university

Page 10: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

MAINTENANCE LOAN

To help pay for living costs

All full-time UK students eligible

(for 45-50%)

Means-tested

(50-55%)

Page 11: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

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

Page 12: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

MAINTENANCE LOAN BREAKDOWN

Page 13: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

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

Page 14: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

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

Page 15: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

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

Page 16: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

HOW WILL STUDENTS PAY FOR IT ALL?

LOANS Non-RepayableSources

Tuition fee loan

Maintenance loan

Bursaries

Scholarships

Page 17: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

BURSARIES AND SCHOLARSHIPS

Hallsdiscount

Fee waivers

Cash bursaries

University specific financial packages

Check university websites for details

Page 18: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

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

Page 19: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

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

Page 20: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

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

Page 21: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

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

Page 22: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

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

Page 23: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

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

Page 24: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

EXTRA INCOME

Page 25: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

EXTRA INCOME

Student Account Overdraft

Credit Card

Page 26: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

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 £

Page 27: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

HOW TO SAVE MONEY!

NUS Card

Bulk Buy

Value Food

Mobile Phone tariff

16 – 25 Railway Card

Page 28: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

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

rag

e L

ifet

ime

Ear

nin

gs

(£10

0k)

Page 29: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

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

Page 30: STUDENT FINANCE Schools and Colleges Liaison Oxford Brookes University

www.unipodadvice.com

ALL YOU NEED TO KNOW ABOUT UNIVERSITY