www.le.ac.uk

Student Finance

Louise Carr

School and College Services

University of Leicester

Student Finance

• How it works & what you can get

• Case studies

• Budgeting and money management

Funding

Student Finance

Tuition Fee Loan

Maintenance Grant

Maintenance Loan

Additional Support

University of Leicester

Scholarships

How to apply

• Apply through Student Finance England online

– www.gov.uk/student-finance

• Means testing based on previous tax year (i.e.

April 2012 - April 2013)

• Can apply for “Current Income Assessment” if

income changes (more than 15%)

• Link to UCAS application

Tuition Fees

• Will vary according to institution up to £9,000

per year

• Student Finance will provide full Tuition Fee

Loans for eligible students

• Fees go directly to the university

• Students/parents do not pay fees – Graduates

do

Tuition Fees at Leicester

• The standard tuition fee for all undergraduate

courses at Leicester is £9,000 per year

• Foundation year - £6,000

• Erasmus year - £1,250

• Other year abroad - £1,000

• Year in industry - £1,000

• M Level degree final year - £7,000

Maintenance Support

• Maintenance loan and grant

• Paid by Student Finance England to the

student

• Means-tested based on household income

• Influenced by where the student studies

– London

– Staying at home

– Elsewhere

Maintenance Loans/Grants

Household Income Grant Loan TOTAL

£25,000 or less £3,387 £3,862 £7,249

£30,000 £2,441 £4,335 £6,776

£35,000 £1,494 £4,808 £6,302

£40,000 £547 £5,282 £5,829

£42,620 £50 £5,530 £5,580

£45,000 £0 £5,343 £5,343

£50,000 £0 £4,843 £4,843

£55,000 £0 £4,343 £4,343

£60,000 £0 £3,843 £3,843

Over £62,132 £0 £3,610 £3,610

Additional support

• Disabled Students’ Allowances

– Additional grant

• Help for students with children

– Childcare grant

– Parents’ Learning Allowance

• Adult Dependants’ Grant

• Access to Learning Fund

– Financial hardship

Recap on funding

Student Finance

Tuition Fee Loan

Maintenance Grant

Maintenance Loan

Additional Support

University of Leicester

Scholarships

Scholarships at Leicester

• Chancellor’s Scholarship

– £1,000 annual fee waiver

– AAB at A-level (or equivalent)

– Not including Medicine

Scholarships at Leicester – cont.

• Leicester National Scholarship Programme

– £2,000 annual fee waiver in first year

– £1,000 annual cash award every year

• Students from England who have academic

ability and whose household income falls below

£25,000

Latest scholarship information: www.le.ac.uk/fees

Loan Repayments

• Eligible to start repaying the April after

graduation

• No repayments until you are earning above

£21,000

• Repayment = 9% of income above £21,000

• Any outstanding repayments will be written off

after 30 years

Loan Repayments - Examples

• There will be no penalty fees for early

repayment

Salary Amount above £21,000 Monthly repayment

£21,000 £0 £0

£22,000 £1,000 £7.50

£25,000 £4,000 £30.00

£30,000 £9,000 £67.50

£40,000 £19,000 £142.50

Case Study A: Anjali, Leicester

• Household income £25,000,

away from home

• Tuition Fee Loan = £9,000

• Maintenance Loan = £3,862

• Maintenance Grant = £3,387

• £185.87 per week for 39 weeks

• Earning £24,000 = repayments

of £22.50 per month / £5.63

per week

Case Study B: Mark, Leicester

• Household income £62,500,

away from home

• Tuition Fee Loan = £9,000

• Maintenance Loan = £3,610

• Maintenance Grant = £0

• £92.56 per week for 39 weeks

• Earning £21,000* = repayments

of £0 per month / £0 per week

*Mean Graduate wage (6 months after graduation) – Hesa’s UK domiciled

leavers six months after graduation table K report

Budgeting

Variable Fixed

RENT/bills

Budgeting

Will students have enough money?

• Part time job

• Full time job during the summer

• Parents/family/savings

• Student bank account

• Credit card?

Useful Websites • University of Leicester funding & welfare pages:

– www.le.ac.uk/fees www.le.ac.uk/welfare

• NHS Bursaries: www.nhsbsa.nhs.uk/students

• Student Finance England:

www.studentfinance.direct.gov.uk/

• Uni Aid (budgeting): http://www.brightsideuniaid.org/

• Uni profiles + cost of living info: www.push.co.uk

• Martin Lewis:

http://www.moneysavingexpert.com/family/student-loans-

tuition-fees-changes

• Careers advice and statistics: www.prospects.ac.uk

Any questions?