Download - Parents HE Event 2013
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Where Next?
Preparing for Higher Education
Parents Information Evening
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Thinkfutures.net
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Big Decisions
Some people spend more time planning their
holidays than planning their future.....but our
students will spend more of their awake
hours in work for the next 40 years at least
Students will need to use all the tools at their
disposal to help them make their big decisions
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Planning the Journey:
Why and How Much?
Why go to
university?
How much will it
cost?
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Why should your child go to university
Education enhances life chances
Qualifications lead to better and
more opportunities:BA Hons, BSc Hons, BA, BSc,HND, DipHE, Foundation Degree
Between 2-5 years
Vocational & Academic Courses
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Graduates....
Lower unemployment rates (less than 50%than that of non graduates)
A wider choice of role in their chosen career
More opportunities for work experience Gain independence, life and social skills
Broadened horizons
Enjoy university experience Greater support networks, professionally,
socially and academically
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Graduates....
The Graduate Premium
An average of 12,000 salary per year
more than non graduates
Over a life time an average of 500,000
more salary than non graduates
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BUT
Success is NOT guaranteed
Not all students complete the course
Getting a good university place is very
competitive
Graduates do not always get graduate jobs
Higher education incurs costs Forgoes earnings for a minimum of 2 years
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The Costs of Going to University
Tuition Fees
payable directly to the institution by the Student
Loans Company
Maintenance Costs
Travel, Accommodation, Food, Equipment
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How can we afford it?
BORROWING STUDENT LOAN COMPANY Tuition Fees
Maintenance Loans
BORROWING COMMERCIAL LENDERS Overdrafts
Short Term Loans
FREE MONEY
Grants Bursaries
Scholarships
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Student Loans
http://www.bournemouth.ac.uk/futurestuden
ts/microsites/facts_about_fees/index.html
http://www.bournemouth.ac.uk/futurestudents/microsites/facts_about_fees/index.htmlhttp://www.bournemouth.ac.uk/futurestudents/microsites/facts_about_fees/index.htmlhttp://www.bournemouth.ac.uk/futurestudents/microsites/facts_about_fees/index.htmlhttp://www.bournemouth.ac.uk/futurestudents/microsites/facts_about_fees/index.htmlhttp://www.bournemouth.ac.uk/futurestudents/microsites/facts_about_fees/index.html -
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Student Loans
Currently 80% of students take out a loan
The debt belongs to the student
Tuition Fees Course costs payable directly to the university by
the Student Loans Company
Living Costs
Paid into the students bank account at the start of
each term
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Student Loans
Tuition Fee Loan Maximum of 9000 per
year
Maintenance Loan Maximum 5500 if live away from
home outside London
Maximum 7675 if live away from
home in London Maximum 4375 if you live at home
while studying
Accrue interest at 3% + rate of inflation
Repayable on graduation, once earning 21000 a year or more
Repayments are 9% of any income over 21000, so at 25000
36 repayment per month
After 30 years any outstanding amount is written off
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On line Resources
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Grants
Non Repayable
Maximum 3354
Directly linked to household income If less than 25000 full grant
If more than 42500 nothing
Paid into student bank account at the start ofeach term
Annual application
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On line Resources
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Bursaries & Scholarships
Financial support from universities and otherorganisations to selected students
Need based less well off families
Merit based meet specified criteria Career specific for different courses
Cash payments for living costs/ equipment
Varying amounts 200- 5000
Non Repayable
Annual application
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On line Resources
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Not a financial adviser
Do the research
Complete all the application administrationbefore the deadlines
If you are going to need to borrow borrowfrom the Student Loan Company
Apply for all the available bursaries/
scholarships If you are going to repay early, pay off
everything else first
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Help and Support
Sixth Form Team
Form Tutors
Learning Mentors Connexions Personal Advisers
ThinkFutures.net