View
28
Download
0
Category
Preview:
DESCRIPTION
Financing Higher Education. 2011 Entry. Which is the most expensive place to get a degree?. Oxford University Imperial College, London Exeter University Plymouth University North Devon College. Fees. Universities are charging £3375 per year tuition fees. - PowerPoint PPT Presentation
Citation preview
Which is the most expensive place to get a
degree?Oxford University
Imperial College, London
Exeter University
Plymouth University
North Devon College
Fees£ Universities are charging £3375 per
year tuition fees.
£ Students do not have to pay course fees ‘up front’.
£ Students can defer paying the fees by taking a fee loan.
Living CostsPOTENTIAL EXPENDITURE - First Year: Average Costs (2009/10)
Accommodation Books & EquipmentFood and Drink Clubs, Societies & SportsClothingTV licenceTravel home Toiletries and haircutsTelephone and Internet Presents Social Life Housing/Damage Deposit for next year
TOTAL
Living CostsPOTENTIAL EXPENDITURE - First Year: Average Costs (2009/10)
Accommodation (av. £144 p/wk – 31 wks, catered) 4464Books & Equipment 300Food and Drink (lunch etc at £25 p/wk – 31 wks) 775Clubs, Societies & Sports 190 Clothing 200 TV licence 150Travel home 150 Toiletries and haircuts 125Telephone and Internet (approx £85 internet in halls) 300 Presents 150Social Life (approx. £35 per week) 1085Housing/Damage Deposit for next year 320
TOTAL £8,209
Student Support
Institutional – BursariesStatutory: If fees are £3375 per year students on full
maintenance grants will receive £338 per year.
Discretionary: Many Universities will be offering larger bursaries. These may be a mix of cashand ‘in kind’ payments and will have different criteria.
UK Access to Exeter Bursary - 2011Household Income Exeter Bursary
Up to £25,000 £1,500
£25,001 to £35,000 £750
Student SupportMaintenance Grants Means tested on parental incomeUp to £2,906 for all new students from lower income households (under £25k full, under £50k partial).
Household income Amount of grant for 2011/2012
Up to £25,000 Full grant - £2,906
£30,000 £1,906
£34,000 £1,106
£40,000 £711
£45,000 £381
£50,020 £50
More than £50,020 No grant
Maintenance LoansMeans tested on parental income – have to be repaidAll students can have 72% of the maximum. Remaining 28% depends on household income and grant
For 2011/12 first year students:
Students don’t have to take out the full student loan.
Living at home Living away from home outside London
Living away from home in London
Maximum Student Loan for Maintenance
£3,838 £4,950 £6,928
72% not income assessed
£2,763 £3,564 £4,988
Remainder (around 28%) - income assessed
£1,075 £1,386 £1,940
Repaying loansFee loan and maintenance loanWhen? - After leaving course & earning £15,000+ pa. How? - Deductions directly from wages, like tax
and NI How much? - 9% of earnings over £15,000 pa.
(£22.50 per month @ £18,000) (£75 per month @ £25,000)
£ Can pay more - will be able to take 2 year payment ‘holiday’
£ If earnings fall, contributions fall
£ Outstanding debts written off after 25 years
How to make up the difference Income - £1500 bursary + £2906 grant + £3497 loan Outgoings - £8205
• Vacation and term time earnings • Extra parental contribution• Bank overdraft• Scholarships/trusts/charities• Additional support is also available for
students with additional needs – e.g. students with disabilities or dependents
How and when to apply.How – www.direct.gov.uk/studentfinance
download or print off form
Recommended