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Guide to Undergraduate Student Finance for Prospective Students

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					Guide to Undergraduate Student
Finance for Prospective Students
       Investing in your future                      expenses; however, there is a variety of
                                                     funding and financial help available from
       Deciding to go to university is one of the    the Government and institutions to pay
       most important decisions you will ever        for these. Our aim in this guide is to
       make and we’re delighted you’re thinking      demystify and explain the system as
       about coming to the University of Exeter.     clearly as possible, so that you can make
       We are committed to attracting the best       informed choices about your future and
       and brightest students and providing them     are able to budget effectively for your
       with the support and facilities they will     university career.
       need to realise their potential. As well as
       investing in campus-wide developments to      The information in this guide is mainly
       provide you with world-class teaching and     aimed at students from the UK, or
       learning facilities, we have created          those who are classed as Home students
       generous bursaries and offer a range of       (although some information is also
       financial advice to complement the            relevant to students from the European
       Government grants and loans that are          Union intending to study full time).
       available.                                    Please note: There is currently a
       We know that the whole issue of student       review of fees and student funding being
       finance can be confusing. Being an            undertaken and final figures for 2011
       undergraduate student involves two            entry had not been confirmed when this
       main expenses: tuition fees and living        guide went to print.
Student support                             Maintenance grant
                                            If you are a full-time student from a     Key points about Student Loan
This guide aims to provide an               lower income household you will be        repayment – the current
introduction to student finance. It         eligible to receive a non-repayable       arrangements
should not be used as the sole basis        Maintenance Grant. The actual amount
for your financial considerations           you will receive will depend on your      • Student loans for maintenance
for 2011/12 entry and you are               family’s household income.                  and tuition fees are repayable
strongly advised to check the latest                                                    from the April after you leave
information on the Directgov                Special support grant                       your programme, but
website www.direct.gov.uk/                  You could be eligible for a Special       • You only repay your loan when
studentfinance and on our website.          Support Grant if you have an                you are earning over the
                                            entitlement to, and are in receipt          income threshold, currently
Full-time support                           of certain welfare benefits. The            £15,000 per annum in the UK
If you are a full-time student you          amount you can get will depend on
may get financial support from              your family’s household income. The       • You will repay 9% of your
Student Finance England for living          Special Support Grant replaces the          earnings over this threshold
(maintenance) costs and tuition             Maintenance Grant for eligible students
fees. You can gain more information         but does not affect your Maintenance      • For students employed in
about finance and support at                Loan. You can gain more information at      the UK, deductions are made
www.direct.gov.uk/studentfinance            www.direct.gov.uk/studentfinance            direct from their salary

Student finance calculator                  Variable tuition fees
You can use the enhanced online             and tuition fee loans
Student Finance Calculator to get           The tuition fee arrangements for
an indication of how much support           2011/12 have not yet been set.
you can get. You can try the Student        Universities and colleges offering
Finance Calculator and apply for            Higher Education programmes in
support online at www.direct.gov.uk/        England are currently allowed to vary
studentfinance                              the amount of fees they charge new
                                            students.
Maintenance loan
If you are eligible for financial support   Currently students can apply for the
from Student Finance England you are        Tuition Fee Loan to cover the cost
also eligible to receive a Maintenance      of tuition fees. Student Finance
Loan. The amount you can get depends        England pays the Fee Loan direct
on your family’s household income and       to the Higher Education institution.
whether you receive a Maintenance           More information is available on the
Grant.                                      Directgov website.
Additional financial                       Budgeting – living costs                    Bills
                                                                                       In university accommodation, rents
support from the                           Living expenses – how much                  include all utility bills and contents
University of Exeter                       will they be?                               insurance cover for the room. In private
                                           Your living expenses will mainly consist    accommodation gas, electricity, water,
For the most up-to-date information,       of accommodation (unless you are a UK
please visit our website                                                               telephone, TV licence and broadband
                                           student living rent-free at home), food,    costs all need to be taken into
www.exeter.ac.uk/undergraduate/            entertainment and books. Other living
money                                                                                  consideration.
                                           costs will depend to a large extent on
                                           your lifestyle.                             Food
Exeter bursaries
In order to make sure that students from   As a rough figure, at present most          While catered accommodation is
lower income backgrounds are not           students can expect to spend something      great for those who don’t want to have
deterred from studying with us, we offer   between £6,500 and £8,500 a year on         to cook for themselves, self-catered
a guarantee of additional help from our    their living expenses, including            accommodation offers the flexibility to
UK Access to Exeter bursary scheme.        accommodation.                              cook all meals for yourself. However,
                                                                                       costs can mount up if you don’t plan
Subject-specific scholarships              How can I budget for this?                  ahead and relying on takeaways or ready-
Details of subject-specific scholarships                                               meals is expensive. Try to organise a
                                           Step 1: Incoming budget – start by          menu for a week and write a shopping
are available on our website at            working out an overall incoming budget.
www.exeter.ac.uk/scholarships                                                          list to ensure that you only purchase the
                                           Add together how much money you will        food you will use. If you’re in self-catered
                                           receive from loans, grants, bursaries and   accommodation it’s cost effective to
Sports scholarships                        any other sources of funding, such as
Sport Scholarships are available for                                                   shop, cook and eat in a group as sharing
                                           savings or parental contributions.          the cooking will save you money and
students of outstanding sporting ability
at both our Exeter and Cornwall            Step 2: Outgoings budget – Make a list      time and can be a lot more fun.
campuses who show evidence of              of the things you will need and want to
achievement or potential at national       spend money on. These include:              Course costs
level. Scholarships are awarded on a                                                   Some courses require you to buy more
yearly basis and can be renewable for up   Accommodation                               books and materials than others and
to a further two years. The awards are     Accommodation will be your largest          some may require you to take part in
accompanied by a full package of sports    expenditure. In 2010 the average cost of    field trips or buy special equipment such
science support, training and mentoring    accommodation in catered university         as lab coats. Your academic department
services.                                  halls was £151 per week, and in self-       will be able to provide a guide to the costs
                                           catered university accommodation it was     you can expect for field trips and special
Music scholarships                         £109 per week. It may seem that this        equipment and some provide bursaries
Music Scholarships are open to all kinds   makes self-catering cheaper, but you        towards the costs of these. Forward
of musicians and composers, not just       should bear in mind that catered            planning, second-hand book sales and
from the classical tradition. The          accommodation contracts are for 31          good use of the library can save money.
scholarships enable students to continue   weeks of the year; whilst self-catered      If you are likely to find it difficult to
taking individual lessons, or undertake    university accommodation contracts are      meet these course costs, you might get
to support student music in directly       for 40 or 44 weeks per year. In private     help from the Access to Learning Fund.
practical ways.                            sector accommodation, rents in 2010
                                           were in the region of £75-95 per week,      Travel costs
                                           plus a deposit of around £350-370 per       At the University of Exeter, our
                                           person. For up-to-date information          accommodation is either on the
                                           on accommodation costs go to                campuses or within walking distance,
                                           www.exeter.ac.uk/accommodation              so you won’t have to spend money on
transport to and from campus. All of        cover this and whether there is any
our campuses are also within walking        shortfall. Working out how much you
distance (or short bus journeys) of         will need to live on is an important
stations, shops and entertainment.          calculation to make before university
Take advantage of special discounts         starts. It is worth thinking about how
for students on trains and coaches, and     this breaks down week by week,
book trips as far in advance as possible,   particularly as student loans tend to
so you can get the cheapest fares.          be paid on a term by term basis, and
                                            you will need to make your loan stretch
Leisure and sports                          until the next term begins.
Consider club and society membership
cost and whether you’ll need to hire        Most students will find that expenditure
equipment or pay for extras.                exceeds income and so you’ll need to
                                            find ways of saving money and/or
Social life and entertainment               increasing your disposable income.
There is so much to do while you’re         Additional income sources include
a student and not all of it costs a lot!    savings, extra parental contributions
Our Students’ Guild provides fantastic      and interest-free bank overdrafts. If,
subsidised entertainment but costs can      after this, your outgoings still exceed
still mount up if you go out often. Make    what is coming in, it is probably worth
sure that you are realistic about how       thinking about getting a sensible level
much you might need and how much            of part-time work to help bridge the gap.
you can afford to spend, then stick to      Vacation work is also a good option as
your budget.                                you can supplement your term-time
                                            expenses.
Other expenses
You also need to consider other             Part-time work
necessities such as clothing, toiletries,   Most students supplement their grants
haircuts and extras including presents,     and loans by working part-time. The
telephone (including mobile contract),      maximum recommended is 10-15 hours
internet and TV licence.                    during term-time and the national
                                            average pay for students working 16
Step 3: balance the books – Once you’ve     hours a week is around £90. We have our
got a general idea of how much income       own employment bureau – The Works –
you’ll have from loans, grants and          on the Streatham Campus in Exeter to
bursaries and how much your living          help students find part-time jobs and
costs will be, you’ll be able to work out   the Careers Service at the Cornwall
how much you need to spend each week        Campus offers a similar service for
or month, whether your income will          Cornwall-based students.
Examples of living costs
Student A – living in university catered accommodation
University catered accommodation 2010/11 (term-time costs only –
31 weeks per year).
                                                                  COST

Accommodation                 Average £151 per week for 31 weeks £4,681

Books and equipment                                               £300

Food – lunches, coffees etc    Approx. £25 per week for 31 weeks   £775

Clubs and societies                                               £275

Clothing                                                          £200

TV licence                                                        £145

Travel home                                                       £150

Toiletries and haircuts                                           £120

Telephone                                                         £270

Presents                                                          £150

Social life                   Approx. £35 per week                £1,085

House deposit for next year                                       £370

                                                         Total £8,521


Student B – living in university self-catered accommodation
University self-catered accommodation 2010/11 (term-time costs only
– NB rent is payable for a minimum of 40 weeks of the year).
                                                                  COST

Accommodation                 Average £109 per week for 40 weeks £4,360

Books and equipment                                               £300

Food – all food               Approx. £45 per week for 31 weeks   £1,395

Clubs and societies                                               £275

Clothing                                                          £200

TV licence                                                        £145

Travel home                                                       £150

Toiletries and haircuts                                           £120

Telephone                                                         £270

Presents                                                          £150

Social life                   Approx. £35 per week                £1,085

House deposit for next year                                       £370

                                                         Total £8,820


Please note: These examples are intended to demonstrate costs of
living at university during term-time only. It assumes that you will be
supported by your parents, or by other means, during holidays. Rents
are reviewed annually and details for October 2011 will be available in
March 2011.
Other help available                              Am I eligible?                                                          Useful contacts
                                                  Students are assessed on their
The Access to Learning Fund (ALF)                 individual needs. However, the                                          For more information on financial
The Government gives every university             following groups of UK students are                                     help available to undergraduate
funds to assist UK students in hardship           a priority for help from the ALF:                                       students visit: www.direct.gov.uk/
who may need extra financial support                                                                                      studentfinance
for their course and to stay in Higher            • students with children, especially
                                                                                                                          For information about fees, loans and
Education. More specifically, the                   single parents
                                                                                                                          the Access to Learning Fund contact:
fund can:                                         • mature students, especially those                                     Phone: +44 (0)1392 723858
• meet particular course and living                 with existing financial commitments                                   Email: money@exeter.ac.uk
                                                                                                                          Visit: www.exeter.ac.uk/
  costs which are not already being met           • students from low-income families                                     studentfinance
  from other grants
                                                  • disabled students (as long as you are                                 For information about University
• help if students are in financial                 studying at least 25 per cent of a full-                              of Exeter bursaries contact:
  hardship                                          time course)                                                          Phone: +44 (0)1392 722486
• provide emergency payments for                                                                                          Email: bursaries@exeter.ac.uk
                                                  • students entering Higher Education
  unexpected financial crises                                                                                             Visit: www.exeter.ac.uk/bursaries
                                                    from care
• help students who may be                                                                                                For information about University
                                                  • students in their final year who are                                  of Exeter Scholarships contact:
  considering giving up their course                in financial difficulty                                               Phone: +44 (0)1392 722469
  because of financial problems
                                                  To be eligible to apply you must be                                     Email: admissions-
Most awards from the Fund are in the              on a full-time programme, or a part-                                    scholarships@exeter.ac.uk
form of grants, although some short-              time programme equivalent to at least                                   Visit: www.exeter.ac.uk/scholarships
term loans may be available to meet               50 per cent of full time. Students                                      For independent advice about
temporary hardship such as delayed                normally apply after they have                                          finance contact:
maintenance loan or severe cash-flow              registered, although applications                                       Students’ Guild Advice Unit
problems.                                         may be considered from students                                         (Exeter campuses)
                                                  before the start of the academic year.                                  Phone: +44 (0)1392 723520
                                                                                                                          Email: studentadvice@exeter.ac.uk
                                                  How do I apply?                                                         Visit: www.exeterguild.org
                                                  For further information, including                                      FXU Advice Service (Cornwall Campus)
                                                  how to apply, contact the Students’                                     Phone: +44 (0)1326 370447
                                                  Guild Advice Unit or the Student                                        Email: advice@fxu.org.uk
                                                  Funding Team.                                                           Visit: www.fxu.org.uk




                                       This document forms part of the University’s Undergraduate Prospectus. Every effort has been made to ensure
                                       that the information contained in the Prospectus is correct at time of print. The University will endeavour to deliver
                                       programmes and other services in accordance with the descriptions provided on the website and in this prospectus.
                                       The University reserves the right to make variations to programme content, entry requirements and methods of
                                       delivery and to discontinue, merge or combine programmes, both before and after a student’s admission to the
                                       University. Full terms and conditions can be found at www.exeter.ac.uk/undergraduate/applications/disclaimer
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