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Tuition Fees and Bursaries

2006-07

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Types of Financial Support

Tuition Fee Loans

Maintenance Grants

Student Loan for living costs

University of Essex Bursary

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Tuition Fee Loans

Eligible full-time undergraduates will not have to pay fees before they start, or whilst they are studying.

Students will be able to apply for a Tuition Fee Loan for up to the cost of the course, per annum.

The fees will be paid direct to the University, on their behalf.

Students will repay these loans once they have left university and are earning over £15k.

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Loans also available to existing students, towards their maximum fee amount of £1200

Systems Admin and MIS will receive information about how much money is due to the University from Tuition Fee Loans and record the amounts in each student’s record.

If the Tuition Fee Loan is for less than £3k, the student will be invoiced by Finance for the remainder during the Autumn term.

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Maintenance Grant

Non-repayable, means-tested Maintenance Grant worth up to £2700 a year

If household income is

- £17,500 or less they will receive the full £2700 grant - £17,501 TO £37,425 a partial grant is payable  

Approx 50% of new students are likely to be eligible for a grant

Grants are payable in 3 instalments - at the start of each term.

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The University does not administer any aspect of the Maintenance Grant.

Data files from SLC will state whether a student is in receipt of a grant, or not.

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Student Loans for Living Costs

Loan amount for Maintenance Grant holders will be reduced byup to £1200 as part of the Maintenance Grant is paidin substitution for part of a loan: reducing the debt for lower income students by up to £1200 p.a. 

The loan is repayable after graduation when earnings reach more than £15k a year. Repayments are linked to earnings.

A graduate earning £20k p.a. would repay £37.50 a month.

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Systems Admin confirms registered status to the SLC at the start of each year.

Payments are released three working days after the date of Registration.

The Student Enquiry Screen shows that a student’s registration details were returned to the SLC at the start of theyear.

Remaining instalments depend on the student’s continuing status.

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University of Essex Bursary

Bursary provision is required if we wish to charge £3000 fees

To minimise deterrent from fees, students in receipt of maximum Maintenance Grant of £2700 will receive a “statutory” non repayable bursary of £300.

The University is offering “discretionary” bursaries to students From low income households in addition to awarding the statutory £300 bursaries.

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Bursary Amounts

Where household income < £25k p.a. the University provides a cash bursary to complement the Maintenance Grantto provide total support equivalent to £3000 p.a.

Where household income between £25k - £37,426 p.a.Both the Maintenance Grant and University Bursary taper off on a sliding scale.

The maximum Bursary value is £1550.

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Bursary Administration

SLC provides a service to calculate bursary amounts and makepayments to students on our behalf.

University pays £3.75 per eligible student per year.

Bursary amounts are calculated during the application cycle and notified to applicants via SLC on joint SLC/Essex paper.

Systems Admin and Admissions can approve and monitorbursary awards through an SLC portal.

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Bursary Administration

There will be a n “audit” of registered students prior to the payment of bursary instalments.

The Bursary is paid in 2 instalments, in February and May.

Systems Admin will create a file of eligible students for SLC torelease payments.

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Contacts

Bursary policy and “rules”Tom Barlow, Customer Services Manager, Finance Section

Tuition FeesLee Burton, Head of Income & Payments, Finance Section

Student recordsNicola Jackson, Systems Administration