For students from England who start in 2016Student Funding

Overview

• Tuition Fees• Living Cost Loan• Additional Support• Disabled Students Allowance• Social Work• NHS• Repayments

Tuition Fee Loans

• Available to all eligible undergraduate students

• Not income-assessed

• Paid direct to the university by the Student Loans Company

• Repayable

Living Cost Support

Maintenance Loan for living costs

• Living away from parental home up to £8,200

• Living at parental home up to £6,904

• How much loan depends on household income

Living Cost Loan & GrantHousehold Income Living Cost Loan

£25,000 £8,200

£30,000 £7,612

£35,000 £7,023

£40,000 £6,434

£45,000 £5,845

£50,000 £5,256

Over £62,180 £3,821

Figures for students living away from home and outside London

Living Cost Loan & GrantHousehold Income Living Cost Loan

£25,000 £6,904

£30,000 £6,322

£35,000 £5,740

£40,000 £5,158

£45,000 £4,576

£50,000 £3,994

Over £58,195 £3,039

Figures for students living at home and outside London

Living Costs

Maximum Loan is £8,200 per year£210 per week over 39 weeks academic year

To cover:– Accommodation– Course costs– Travel– Food– Socialising and university activities

Living Costs

Student Weekly Spending in Year 1

Food and Household £53

Accommodation £120

Travel £21

Course costs £10

Entertainment £35

Toiletries/Clothes etc £20

TOTAL £259

Annual Total over 39 weeks £10,101

Student BudgetIncome Weekly Annual

Maintenance Loan £210 £8,200

Part-time work £49 £1,911

TOTAL IN £259 £10,111

Spending Weekly Annual

Accommodation £120 £4,680

Food and household bills £53 £2,067

Travel £21 £819

Course costs £10 £390

Entertainment £35 £1,365

Toiletries/Clothes £20 £780

TOTAL OUT £259 £10,101

Other Support

• Extra help for students in special circumstances, e.g. students with a disability or with dependants

• NHS and Social Work courses funded differently• University Hardship Funds• University bursaries and scholarships• Charity and Trust funds• Welfare benefits

Students with Dependants

Childcare Grant:

Based on 85% of actual registered/approved childcare costs up to a maximum 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 children

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

Adult Dependants’ Grant:

Normally for the student’s partner, or another adult who isfinancially dependent on the student and their net incomeis not more than £3,796 p.a. Maximum grant available: £2,757

Disabled Students’ Allowances

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 should apply for their DSAs as soon as possible, the process can be triggered from the main online application form.

Disabled Students’ Allowances

AllowancePart-Time Maximum Support

Full-Time Maximum Support

Non-medical personal helper £15,543 £20,725

Per academic year

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

Course

Other disability-related expenditure £1,305 £1,741

Per academic year

Disability related travelNo Limit – Reasonable spending can

be claimed

Social Work

Paid in addition to other SFE funding • Bursary currently £4,862.50 (2015/16)• Includes an amount for travel placement costs• Not income-assessed• Bursary is only available from the second year of

the course• There is a cap which limits the number of

bursaries • All students get £862 for placement

NHS Courses

A healthcare student on an eligible course of 45 weeks in duration and studying outside London can currently receive• fees paid by the NHS• a non-means tested grant of £1,000, • a means tested bursary of up to £4,491 • a non-means tested loan of up to £2,324 from

Student Finance England• In total £7,815 for living costs per year

Student Loan Repayment

Gross Salary Salary over £21k from which 9%

deducted

Monthly repayment

Up to £21,000 £0 £0

£25,000 £4,000 £30.00

£30,000 £9,000 £67.50

£35,000 £14,000 £105.00

£40,000 £19,000 £142.50

£45,000 £24,000 £180.00

£50,000 £29,000 £217.50

Student Loan RepaymentsInterest levels will depend on a students income and circumstances:

Interest Rate: RPI Only

During study until entering repayment

Income: Under £21,000

Interest Rate: Retail Price Index +3%

Income: £21,000 to £41,000

Income: Over £41,000

Interest Rate: RPI + up to 3%

Interest Rate: RPI +3%

i The interest rate is updated once a year using the RPI figure from March which is carried forward and applied in September

Useful Contacts & Websites

Student Money Advicewww.leedsbeckett.ac.uk/moneyadvice

Advice line: 0113 8125593 – Monday-Friday 10-12

Student Finance EnglandTel: 0300 100 0607www.gov.uk/studentfinance http://practitioners.studentfinanceengland.co.uk/

NHS and Social Work www.nhsbsa.nhs.uk/students

Money Saving Expert www.moneysavingexpert.com

Any Questions?

The accuracy of the guidance in this PowerPoint is based on the best information available at the time of writing. However, such information is subject to change, sometimes at short notice. Be aware that the PowerPoint may be misleading if used in isolation. Whilst care has been taken to ensure that all information is correct, the Leeds Beckett University Student Money & Advice service does not accept responsibility for errors, omissions or inaccuracies.