Student Funding2012/13 entrants
Aim of presentation:
• What are the costs of going to university?
• What support is available to meet these costs?
• What you need to do to access the support?
Tuition Fees 2012/13
Cardiff University will be charging £9,000 pa for all Undergraduate courses from
September 2012
Will students have to pay the fees up front?
Students will not have to pay Tuition Fees up-front while they study
• Tuition fee loans are available to all eligible students
• Covers whole of the tuition fee
• Not income assessed
• Paid directly to the university
• Student repays after they have graduated
The New Tuition Fee Grant
• Welsh domicile
• Liable for the first £3,465
• Fees over £3,465 (£5535) will be covered by the Welsh Government
• Can study anywhere in the UK
• Not means tested
• Not repayable
Financial support to help students with their living costs
• Assembly Learning Grant (Wales)
Maintenance Grant (England)
• Maintenance Loan (both)
• Income assessed
• Tax year 2010/11
• 3 instalments over the academic year
Figures for 2012 entrantswho normally live in Wales
Household Income
Assembly Learning Grant – Max grant £5000
Maintenance Loan – Max loan £4745*
Total each year
Up to £18,370 £5000 £1901 £6901
£25,000 £3242 £2800 £6042
£34,000 £1106 £4082 £5188
£50,778 £0 £4745 £4745
£56, 708+ £0 £3559 £3559* non means tested 75% of max
Figures for 2012 entrantswho normally live in England
Household Income
Maintenance Grant – Max grant £3250
Maintenance Loan – Max loan £5500*
Total Each year
Up to £25,000 £3250 £3875 £7124
£35,000 £1432 £4784 £6216
£45,000 £0 £5288 £5288
£62,500+ £0 £3575 £3575* non means tested 65% of max
Repayments
• Tuition fee & maintenance loan repaid together• Repayment is linked to earnings not how much
they have borrowed • RPI + up to 3% max • Repay 9% of income over £21,000 (Wales - £1500 written off maintenance loan debt at
repayment)
• The amount of monthly repayment will be the same no matter how much is borrowed
Income Minimum monthly repayments
Up to £21,000 Nil
£25,000 £30.00
£30,000 £67.50
£35,000 £105.00
£40,000 £142.50
Repayment Calculator
Should taking out a Student Loan affect credit rating and taking out a mortgage?
• Student Loans not commercial loans • Not noted on credit report so should not affect credit
rating.
• Unlikely to affect ability to get a mortgage • Mortgage Calculations should relate to disposable
income
• New system graduates have higher disposable income than current system
Additional fundingNon Income assessed -
Disabled Students’ Allowances to help with extra costs of studying related to disability or dyslexia
Income assessed -
Allowances if you have childrenChild Care AllowanceAdult Dependent’s Grant
Awards are in the form of a grant & do not have to be re-paid
Students have to apply for funding each year of their course
English domicile Welsh domicile
PN1 Form PN1 Form
Download form or apply on line Download form or apply on line
www.direct.gov.uk/studentfinance www.studentfinancewales.co.uk
Applications open – deadline for new students 31 May 2012.
Applications available 21st March – deadline new students
4th May 2012
Cardiff University Bursaries
– Means tested support if household income is lower than £42,600
– Household income under £30,000 top statutory support* up to £7,500
– Household income between £30,001 to £42,600 top statutory support* up to £6,750
– Assessed with statutory funding so no need to apply separately
*based on student funding for non-final yr student living away from home
Bursary Example
Based on the household income of a Welsh domiciled student at £29,990
Loan payment: £2,033Grant payment: £3,526Total payment: £5,559
Cardiff University Bursary =
£7,500 - £5,559 = £1,941
Additional Grants• Communities First Award
– Students from a Communities First Area and household income under £42,600
– Either £1000 discount in residence fees or £500 travel grant
• Care Leaver Bursary– £1000 in 1st yr, £750 in subsequent yrs and £500 in
final term• Step Up Bursary– Household income under £42, 600 and already part of University programme
Scholarships
• £3,000 for students who achieve grades AAA at A-level (or alternative qualification equivalent) and satisfy all aspects of their offer.
• must have accepted the offer of a place to study from Cardiff on a firm basis by 31st July 2012
• Archaeology, Biosciences (Ecology, Genetics, Microbiology, Molecular Biology, Zoology) Chemistry, Computer Science, Earth and Ocean Sciences, Engineering (Integrated Engineering, Electronic & Communications Engineering, Electrical & Electronic Engineering, Computer Systems Engineering, Medical Engineering) German, Italian, Physics, Welsh.
Useful web addresses
www.direct.gov.uk/studentfinance
www.studentfinancewales.co.uk
www.delni.gov.uk/studentfinance
www.saas.gov.uk
Check for updates on student funding and apply online
Financial Capability
Money Doctors
“The Money Doctor’s initiative at Cardiff University is part of a national project aiming to improve students' financial capability”
Money Doctor’s Initiatives
• Cardiff University Student Support iApp
• Budgeting Sessions
• Taste Test
• Basket Challenge
• Energy Efficiency
• Recycle Christmas
• Swap shop
Where will my money go?
£5
• Hall–SC en-suite £75• Food £30• Toiletries/laundry £6• Books/course £10• Travel (inc. travel home) £8• Phone, T.V, Insurance £10• Social/leisure £28• Clothes £10
• Total £177 p/w
£182Weekly amount of Loan and Grant for Living Costs
Total left over per week:
Maximising income
Part time work
Choosing the right bank account
Rail cards
BOGOF offers
Student discount in shops,
cinemas & pubs
Buy Second hand books
Keep updated
www.cf.ac.uk
Current students
↓Student support
Contact us
50 Park Place, Cathays Park Campus
029 2087 4844
2nd Floor, Cardigan House, Heath Park Campus
029 2074 2070
www.cardiff.ac.uk/studentsupport
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