Embed Size (px)
DESCRIPTION
Money to study – a guide to funding your Nursing studies by the University of South Wales Student Money Advice Team
Citation preview
© University of South Wales
Money to study – a guide to funding your studies.
Student Money Advice Team
• Tuition fees
• Support for living costs
• Additional allowances
• Clinical placement costs
© University of South Wales
Funding 2014
Tuition Fees will continue to be paid by the NHS for
nursing and midwifery courses
© University of South Wales
Tuition Fees
Non means tested grant of £1,000
Maximum 52 week means tested bursary of up to £4,443*
Non- means tested maintenance loan of up to £2,548
Means tested additional allowances for studentswith dependants
*most students will receive less as this is the maximum for those studying 52 weeks per year
© University of South Wales
Support for living costs
Means-tested against parents, spouse or partnersincome.
Nursing & Midwifery courses at the University are usually 42 and 45 weeks duration:
Elsewhere rate: up to £3,613 (nursing)up to
£3,862 (midwifery)
Parental Home rate: up to £2,845 (nursing)up to
£3,010 (midwifery)© University of South Wales
Means Tested NHS Bursary
* Rates assume an academic year of 42 weeks . If more £83 p/wk elsewhere, £55 p/week home
© University of South Wales
Means Tested NHS BursaryResidual Income Parental home
rate*Elsewhere rate*
Under £24,279 £2,845 £3,613
£30,000 £2,198 £2,966
£35,000 £1,672 £2,440
£40,000 £1,146 £1,914
£45,000 £619 £1,387
£50,000 £93 £861
£55,000 0 £335
£60,000 0 0
Not means-tested.
Parental Home rate - £1,912 yr
Elsewhere rate - £2,548 yr
© University of South Wales
Maintenance Loan
Repayment of Loans
Repayments start once earning £21,000 per year
Interest is based on Inflation Rate plus 3%
Annual Income
Less than £21,000
£25,000 £30,000 £35,000 £40,000
Monthly repayments
Nil £30 £67.50 £105 £142.50
Dependants allowances (means tested):
• Spouse or other adult dependant, OR £2,424 yr First child (if there is no adult dependant)
• Children£544 yr per child
• Parents Learning Allowance £1,192 yr
© University of South Wales
Additional NHS allowances 14/15 rates
Childcare grant (means tested):
Can cover 85% of registered childcare costs:
• £126.65 per week towards costs for 1 child
• £209.95 per week towards costs for 2 or more children
Disabled Students Allowance (not means tested):
Help to apply for DSA available from Disability & DyslexiaService
© University of South Wales
Additional NHS allowances 2014/15 rates
• Students may be able to receive assistance with clinical placement costs.
• This is means-tested (via bursary assessment).
• Submit claims for assistance through the University once studying.
© University of South Wales
Clinical placement costs
NHS bursary, grant and additional allowances:Bursary applications are automatically sent out by NHS Wales Student Awards Service.
http://www.wales.nhs.uk/sitesplus/955/page/72050
Maintenance loan:Apply for maintenance loan through your Local Authority or StudentFinance Wales/England
Student Finance Wales Student Finance Englandwww.studentfinancewales.co.uk www.gov.uk/student-finance
© University of South Wales
Applying for funding
Council Tax• As a full-time student, you may be entitled to council tax exemption or a 25% discount
Tax credits• Can claim tax credits (if normally eligible)
Financial Contingency Fund• Discretionary help from the University for students who need additional financial assistance• Any assistance given is usually in the form of a grant • Apply once enrolled and funding is finalised
© University of South Wales
Other financial information
For Information, Advice & Guidance: Tel: 01443 483778 (Mon – Fri, 9.00 –
12.00) Email: [email protected] Web: http://www.southwales.ac.uk/money/
© University of South Wales
Student Money Advice Team
