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Finance in the new fees environment –

update on the new fees & finance structure from 2012

University of Exeter Students’ Guild Advice Unit

Joanna Thomas – Student Advisor

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Tuition Fees

2012/13:

• Tuition Fees – Up to £9,000 pa

• ALL UK/EU students can take out a tuition fee loan, regardless of household

income

• Available to full & part-time students

• Some fee waivers available & fees paid

(or part fees paid) depending on course,

University and personal situation

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Income

Main sources of income for living costs:

- Maintenance Grant- Maintenance Loan- Bursaries - Scholarships- Additional support...

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Maintenance Grant (or Special Support Grant)

• Up to £3,250 pa

• Full grant – household income of £25,000

or less

• Some support – household income

of up to approx £42,600

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Maintenance Loan 2012/13 – approx. between £3,575 - £5,500

- living away from parental home & studying outside of London

Or, 2012/13 – approx. between £2,850 - £4,375 - living

at parental home & studying in or outside London

• Or, 2012/13 - approx. between £5,525 - £7,675 -if living away from parental home & studying in London

Difference between min. & max. depends on…

how much Maintenance Grant you are eligible for

and how much your household income is

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University specific…

University of Exeter (UK/Home & EU students):

Access to Exeter Bursaries:

- £1500 per year - Household income up to £25,000

- £1000 per year – Household income between £25,000 - £35,000

- £500 per year - Household income between £35,000 - £42,600

National Scholarship partial fee waivers:

- Household income below £16,000:

Either, a partial fee reduction of £3000,

Or, a partial fee reduction of £2000 and a £1000 bursary

- Household income between £16,000 - £20,000:

A partial fee reduction of £2,000

- Household income between £20,000 - £25,000:

A partial fee reduction of £1,000

------------------------------------------------------------------------------You also have Bursaries and Scholarships from Universities

which are merit based – e.g. Academic, Sports, Music, Drama etc

UNIVERSITY BURSARIES & NATIONAL SCHOLARSHIP PROGRAMME

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Application & Assessment

Loans & Grants:

• Assessment by Student Finance (SLC)• On-line application

Means-test household income

Bursaries/Scholarships:

• University specific

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Income Main sources of income:

- Maintenance Grant

- Bursaries

- Maintenance Loan

- Tuition Fees Loan

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Repaying Tuition Fees & Maintenance Loan

• When?

After leaving course & earning £21,000+ pa.

• How?

Deductions directly from wages, like tax & NI

• How much?

9% of earnings over £21,000 pa.

(e.g. £7.50 per month @ £22,000)

(e.g. £30 per month @ £25,000)

• Interest rate –

Linked to the rate of inflation plus up to 3%

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Additional support for:• Students with disabilities:

- Disabled Students’ Allowances

• Students with children or dependants: - Parents’ Learning Allowance

- Childcare Grant

- Adult Dependants’ Grant

• Care Leavers (University of Exeter students only):

- Full fee waiver - £9,000

- Bursary - Additional support up to £100 per week

for accommodation costs in the summer vacation

• Also, grants/bursaries/loans for students studying

particular courses (e.g. Teaching & NHS courses)

– including partial payment of tuition fees from NHS

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StudentFinance:

Key Messages 2012/13

Fiona DabornStudent Finance EnglandSouth West

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Key messages

• No up front payments for tuition

• Apply now

• Research scholarships and bursaries

• Students repay according to what they earn

not what they owe

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Student Resource

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http://www.facebook.com/SFEngland

Ask Questions/Q&A Forums Fun Applications

Link to Help VideosInformation & Support

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http://www.twitter.com/SF_England

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Practitioner Resources

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http://www.practitioners.slc.co.uk/

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Resources for you to use with students

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Materials linked to IAG Quality Standards

Two fully scripted 45 minute lesson plans

Developed & trialled with IAG partners, updated for 12/13

Interactive & encourage research

Fully mapped to IAG Quality Standards

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Videos for students-myths and facts

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Resources for you to use with parents

Developed following partner survey & consultation

Suite of resources including myth buster, FAQ & video

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Resources to embed in your website

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Resources to embed in your website

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Practitioner Helpline Team

Regulations

Complex Queries

Designated Courses

Expert Advice

10am to 4pm Monday to Friday

0845 602 0583 or ssin_queries@slc.co.uk