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									Investing in your
future.
An overview of the outgoings and
income support available

Aimee Ellis
Student Finance Outreach Officer
•Increase of 7.8% across the sector
•Including a 12.6% increase in mature students £100,000
                           Graduates earn over
                            more potential
•Graduates have a higher earning than those who enter
                            work straight from A Levels

                        School Leaver - £11,000
                        Graduate - £20,000


                                                      2
Student Finance England




                          3
NHS Bursaries

            • Some healthcare courses do not carry
              fees and have large NHS bursaries
              available.

            • Over £7,000 available in some areas

            • Contact the Student Grants Unit of
              NHS for more details on 01253
              856123




                                                     4
5
 What happens next?
 Enter UCAS application


   Push these details
   through to Student
     Finance England
                            Receive final HE
  Confirm final course       finance offer
        choice


Complete Student Finance
      application


Receive provisional offer
                                               6
Student Finance Information




                              7
8
9
Overview of finances

Incoming                   Outgoing
Tuition Fee Loan           Tuition Fees
Maintenance Loan           Accommodation
Maintenance Grant          Living Costs
Bursaries
                           Course Resources
Scholarships
Wages & Parental Support
                                           10
Tuition Fees
           Up to £3,290 per year*

• UK and EU students

• Does not have to be paid prior to study

• All students can apply for a Tuition Fee Loan




                              * Some courses are sponsored   11
Tuition Fee Loan
 • Non-Means Tested

 • Paid directly to the University

 • Low interest rate, set at rate of inflation

 • Repayable after graduation and when earning at least
   £15,000

 • 9% repayment of your annual income


                                                          12
Overview of finances

Incoming                   Outgoing
Tuition Fee Loan           Tuition Fees
Maintenance Loan           Accommodation
Maintenance Grant          Living Costs
Bursaries
                           Course Resources
Scholarships
Wages & Parental Support
                                           13
Typical Accommodation Costs
                 Average UK rent for university owned
                    accommodation = £81 per week
                     £3159 per year (bills included)

                   Average UK rent for privately owned
                      accommodation = £60 per week
                     £2340 per year (bills not included)




    *Figures from NUS and Accommodation for Students 14
Typical Accommodation Costs
                 Scotland = £73 pw
             Edinburgh = £ 68 St. Andrews = £82


                       North East= £40 pw
                     Sunderland = £44 Durham = £67


                                  North = £58 pw
                              Liverpool = £50 Leeds = £62


                                  South East= £72 pw
                              Southampton = £62 Brighton = £72

                            London = £102 pw
                            *Figures from NUS and Accommodation for Students 15
A basic room in our Wessex Lanes
      Halls costs £65.45 pw
       £2552.55 per year




                             16
An en-suite room in our Glen Eyre
     Halls costs £96.95 pw
       £3781.05 per year




                              17
                                Most halls are self-catered
                                  with shared kitchens


Self-catered kitchen in halls




      You can have catered
       facilities. These are
    typically £30-£40 a week
     in addition to your rent
                                      The Galley Restaurant – Connaught 18
                                                                         Hall
Maintenance Grants – non repayable
      Income over £50,021:
                                             n/a
      No maintenance grant payable
                                            £1,292
      Income between £35,000 and £50,020:     to
      Receive some grant                     £50
                                            £2,824
      Income between £25,001 and £34,999:
                                              to
      Receive some grant                    £1,292

      Income up to £25,000:
                                            £2,906
      Receive full grant

                                                     19
Maintenance Loan
An additional loan to help with living costs
•Available to home students
•Paid into your bank account in three instalments
                  Maximum 2009/10 loan rates
              London       Parental    Elsewhere
                            home

              £6,928       £3,838       £4,950


                        depends
How much you can borrow£2,763 upon:
           £4,988               £3,564
•How much Maintenance Grant you receive
                                                    20
•Assessed household income (28% income assessed)
Studying outside of London, not in parental
home
Income   Parental     Maintenance Maintenance   Total (grant
         Contribution Grant       Loan          plus loan)
25,000        0          2,906       3,497         6,403
30,000        0          1,906       3,997         5,903
34,000        0         1,106        4,397         5,503
40,000        0          711         4,595         5,306
45,000        0          381         4,760          5,141
50,020        0           50         4,925         4,975
50,778        0           0           4,950        4,950
55,000       844          0           4,106        4,106
56,153      1,386         0         3,564 (*)      3,564
60,000      1,386         0           3,564        3,564
                                                               21
Minimum Support

   £4,950
 Minimum Loan
    39 weeks
   Maximum
    (£3,564)
        =
      Loan
        +
 £127 per week
    Parental
  Contribution
    (£1,386)
                  22
Overview of finances

Incoming                   Outgoing
Tuition Fee Loan           Tuition Fees
Maintenance Loan           Accommodation
Maintenance Grant          Living Costs
Bursaries
                           Course Resources
Scholarships
Wages & Parental Support
                                           23
Bursaries
 All HEIs charging full tuition fees (£3,290) and all students
    entitled to the full Maintenance Grant (£2,906) will get a
                     bursary of at least £329.


http://bursarymap.direct.gov.uk




                                                                 24
Bursaries

  University of Southampton UK Bursary


 – Household income below £25,000 or less = £1,200
   bursary


 – Household income £25,001 - £35,000 = £600
   bursary




                                                     25
                      Hampshire and Isle of Wight
                          Bursary - £1,000

– A new, full-time UK undergraduate student
– Living in or studying at a sixth form or further
  education college with a Hampshire/Isle of Wight
  postcode
– A UK resident (excluding the Channel Islands and the Isle of Man)
– Living in a household with a total income of less than
  £35,000
– Not already receiving an NHS bursary

                                                                      26
Scholarships
      Each University offers different rewards in the form of
                          Scholarships.
The University of Southampton offer over £1 million to the
most talented students in all subject areas.
For example:
Sports Scholarships of up to £3,000 are offered for
entrants with outstanding sporting abilities.

Art – All first years students given £100 to
purchase art materials. A £500 progression
scholarship is granted to those that show the most
outstanding improvement in their development.

Biological Sciences - 15 scholarships of £2,000 to new
students based on pre-university qualifications                 27
Disabled Students’ Allowances (DSAs)
Stef Webb
   Mental        Dyslexia Depression
CELT Partnership Co-ordinator
    Health       Autism       Physical
Tel: 023 8059 9026
 Aspergers Syndrome Disabilities
Email: sw18@southampton.ac.uk
•Website: www.southampton.ac.uk/studentsupport
  Non-means tested allowances to meet ADDITIONAL costs
 Complete DSA 1
     form
                  Get a copy of any
• £5,161 for specialist equipment: £20,520 for non-medical help
                  medical evidence
                   and send to SFE
                                      Await reply from SFE
                                        relating to your
                                            eligibility
                                                             Book appointment with
• Requires a full eligibility assessment                        Stef for a needs
                                                                                   28
                                                                  assessment
Repayment in real terms

          Average Graduate salary = £20,000


              Monthly repayment = £37.50


• 10-15 years to repay
• Graduates can take up to 5 years worth of loan breaks
• Interest linked to inflation
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• After 25 years, all debt is wiped clean
Top tips
  • Go shopping!

  • Visit the bank!




                      30
Student Bank Accounts

            £2,000



                        Buffer: not a
            £2,000
                        target!
                        One year to
                        repay after
            £2,000      graduation




            £3,000


                                        31
Top tips
  • Go shopping!

  • Visit the bank!

  • Check your contents insurance!

  • Get a TV License




                                     32
Remember if you’re going to take a
  television you’ll need to pay for a
licence. A colour license is £142.50
              for a year.


     £1,000
You can claim back the cost for the
summer months you won’t be using
       the license for. Visit
      www.tvlicensing.co.uk


                                        33
Other Outgoings – Contents Insurance
A real essential. This can be as little as £2 per week to
protect all your possessions.
Some Halls of Residence fees include basic cover which you
should consider topping up.


Parents/guardian to check their
home insurance policy as some
policies can insure family members
living away from home.


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Summary
• All students can take a full tuition fee loan


• Tuition Fee Loan and Maintenance Loan are the only sums
  to be repaid


• Loans only repaid after graduation and in employment
  earning at least £15,000


• Grants, bursaries and scholarships are non-repayable
                                                            35
Aimee Ellis
Student Finance Outreach Officer
a.r.ellis@southampton.ac.uk
Tel: 023 8059 9670
Interesting statistics
 • 87% of all students take student loans (NUS)

 • 50% of all students benefit from grants (NUS)

 • 42% of all students benefit from bursaries or
   scholarships (OFFA)

 • 45% students not worried about the loan (NUS)

 • 61% see student finance as a normal part of the student
   experience


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