medicine open day student finance 2013/2014. introduction details relating to funding arrangements...

MEDICINE OPEN DAY

Student Finance

2013/2014

Introduction

• Details relating to funding arrangements for academic year 2013/14 yet to be fully confirmed.

• Please be aware that full regulations still to be laid before, and agreed to, by Parliament

• Updates available in Summer/Autumn of 2012

Aims

• To provide an overview of funding arrangements from 2013/4 onwards

• Allow prospective students to gain a better understanding of the types of support they may be entitled to

• To ensure prospective students know where to get further advice and guidance

Funding

• The funding arrangements vary depending on where you normally live:

– England– Northern Ireland– Scotland– Wales– Non-UK European Union

Modes of Study

• The MBChB is offered as either a 5-year course or a 4-year graduate entry . The funding differs in three ways:

–5-year, first degree

–5-year, graduate

–4-year, graduate entry

Tuition Fees 2013/2014

• All new Home (UK and EU) students will be charged £9,000 per year from September 2012

• Fees for 2013-14 yet to be confirmed

Tuition Fees 2013/2014UK students from England

First degree students

• No up-front fees

• Years 1 to 4 = Fee Loan • Year 5 = NHS Fee Grant

• Repayment of all borrowing after graduation

Living Costs UK students from England

First degree• Parents/spouse means-tested to determine

level of funding

Living Costs 2013/14 UK students from EnglandYears 1 to 4, first degree

Maintenance Grant • Fully means-tested• payable on sliding scale up to income of £42,611• max £3,354 if income £25,000 or less

Maintenance Loan • 35% means-tested• Maximum Maintenance Loan rates 2013/14

- Students living away from home £5,500

- Students living at home £4,375

Living CostsUK students from England Years 1 to 4, first degree

• Maintenance LOAN entitlement is reduced if student receives a GRANT

• LOAN is reduced by 50p for every £1 of Maintenance GRANT payable

• E.G. Maintenance Grant of £1000 = £500 reduction in Maintenance Loan

Household Income

Grant Loan TOTAL

£25,000 or less £3,354 £3,823 £7,177

£30,000 £2,416 £4,292 £6,708

£35,000 £1,478 £4,761 £6,239

£40,000 £540 £5,230 £5,770

£42,611 £50 £5,475 £5,525

£42,875 £0 £5,500 £5,500

£50,000 £0 £4,788 £4,788

£55,000 £0 £4,288 £4,288

£60, 000 £0 £3,788 £3,788

£62,125 £0 £3,575 £3,575

Living CostsUK students from England Years 1 to 4, first degree

Living Costs 2013/14 UK students from England

Year 5, first degree• Partial non means-tested Maintenance Loan

• *£2,324 – Final Year £1,811

• NHS Bursaries • Non means tested grant £1,000• *Means tested bursary max £2591 (30 weeks) , £4,395 (45

weeks)

*“away from home” rates

Tuition Fees 2013/2014UK students from Northern Ireland



• Years 1 to 4 = Fee Loan • Year 5 = Fees paid by Department of Health,

Social Services and Public Safety


2012-2013 rates

Maintenance Grant• Level of support depends on household income• Up to £3,475 per year if income below £19,203.• Partial grant if income between £19,204 and £41,065

Maintenance Loan• Maximum £4,840 if living away from home whilst studying

Living Costs 2013/14 UK students from Northern Ireland

Year 1-4, first degree

Living Costs 2013/14 UK students from Northern Ireland

Year 5, first degree

• Maintenance Loan• 2013/14 details to be confirmed• 2012/13 rate approx £2,370 - £1,850 in Final Year

• Department of Health, Social Services and Public Safety Bursary – fully means-tested

• 2013/14 details to be confirmed• 2012/13 max approx.£2,335

Tuition Fees 2013/2014UK students from Scotland



• Years 1 to 4 = Fee Loan • Year 5 = Fee Grant from Scottish Government

Health Directorate


2012-2013 rates

Students’ Outside Scotland bursary • Level of support depends on household income. Up to £2,150 per year

Maintenance Loan• Maximum £5,570 if living away from home whilst studying

Additional Loan • Means tested, maximum up to £810

Living Costs 2013/14 UK students from Scotland


2012-2013 rates

Scottish Government Health Directorate Bursary•Income assessed; up to £2,455 if living away from home

Non-income assessed Maintenance Loan• Maximum £2,330 if living away from home whilst studying. Final Year rate £1,700



Tuition Fees 2013/2014UK students from Wales



• Years 1 to 4 = Fee Loan + Fee Grant • Year 5 = NHS Wales Fee Grant


First degree students•Welsh Assembly Fee Grant to cover the increase in fee costs.

– E.g. In 2012-2013 a CONTINUING student will pay a tuition fee of £3,465

– Welsh Assembly Fee Grant will cover difference between this rate and the ACTUAL Tuition Fee being charged to NEW students.

– Welsh students will therefore be able to take out a Tuition Fee Loan of £3,465 and be awarded a Fee Grant of £5,535


2012-2013 rates

Assembly Learning Grant • Amount received depends on your household income• £18,370 or less: Full £5,000 grant, Between £18,371 and £50,020: Partial grant Over £50,020: No grant

Maintenance Loan• Students living away from their parents’ home and studying outside of London: Up to a maximum of £4,745

Living Costs 2013/14 UK students from Wales




• Partial non means-tested Maintenance Loan• 2013/14 details to be confirmed• 2012/13 rate £2324 - £1811 in Final Year

• NHS Bursaries • 2013/14 rates to be confirmed• 2012/13 Non means tested grant £1,000 • Means tested bursary max £2,591


Graduate entry student: 4-year course• Year 1

• Tuition Fee Loan available to cover gap between fees charged to returning students and fees charged to new students. E.g. 2012/13 continuing students fees = £3465, new students fees = £9,000. Tuition Fee Loan available = £5535.

• Years 2 to 4• NHS Fee Grant to cover level of fees charged to continuing

students• Tuition Fee Loan to cover rest of fees


4-year graduate entry• Year 1– Full Maintenance Loan available

• 65% means-tested• Between £3,575 and £5,500 (away from home rate)

• Years 2 to 4– Partial non-means-tested Maintenance Loan

• 2012/13 rate £2324, drops to £1811 in Final Year

– NHS Bursaries • Non means tested grant £1,000• Means tested bursary max £4,395


Graduate entry students: 5-year course

• Years 1 to 4

• Fees payable by student, no Tuition Fee Loan available

• Year 5

• Partial NHS Fee Grant


5-year, second degree• Years 1 to 4

– Full Maintenance Loan available• 65% means-tested• Between £3,575 and £5,500 (away from home rate)

• Year 5– Partial non-means-tested Maintenance Loan

• 2012/3 - £2324 or £1811 in Final year– NHS Bursaries

• Non means tested grant £1,000• Means tested bursary max £4,395

Tuition Fees 2013/2014 UK students from Northern Ireland

• Graduate entry student: 5-year and 4-year courses

• Fees payable by student for full course –no Tuition Fee Loan or NHS Grant

Living Costs 2013/14UK students from Northern Ireland

• Graduate entry student: 5-year and 4-year courses

• Means tested Maintenance Loan of up to £4,840 (2012-2013) available each year, if living away from home whilst studying

• Final Year rate currently £4480

Graduate entry student 4-year course

• Fees payable by student for full course – no loans or Health Directorate support available

Tuition Fees 2013/2014 UK students from Scotland


4 - year graduate entry

Years 1 - 4•Full means tested Maintenance Loan

- 2012-2013 rates up to £5,570 per year (£4945 final year rate)

Tuition Fees 2013/14 UK students from Scotland

Graduate entry student: 5-year course

• Years 1 to 4– Fees payable by student, no loan available

• Year 5– Health Directorate Fee Payment (subject to

qualifications)

Years 1 - 4

• Full means tested Maintenance Loan- 2012-2013 rates up to £5,570 per year (£4945 Final Year rate)

Living Costs 2013/14UK students from Scotland

5 -year graduate entry

Living Costs 2013/14UK students from Scotland

5 -year graduate entryYear 5In your fifth year of study onwards, as long as your first degree does not qualify you with a profession, you are eligible to apply for;

2012-2013 rates•Scottish Government Health Directorate Bursary

• Income assessed up to £2,455 if living away from home

•Non-income assessed Maintenance Loan• Maximum £2,330 if living away from home whilst studying (£1700

in Final Year)


Graduate entry student: 4-year course•Year 1

• Tuition Fee Loan available to cover gap between fees charged to continuing students and fees charged to new students. E.g. 2012/13 continuing students fees = £3465, new students fees = £9,000. Tuition Fee Loan available = £5535.

•Years 2 to 4• NHS Fee Grant to cover level of fees charged to

continuing students• Tuition Fee Loan to cover rest of fees


4-year graduate entry• Year 1

– Full means tested Maintenance Loan • Up to £4745 (away from home rate)

• Years 2 to 4– Partial non-means-tested Maintenance Loan

• 2012/13 rate £2324, drops to £1811 in Final Year

– NHS Bursaries • Non means tested NHS Grant £1,000• Means tested bursary max £2,591


Graduate entry students: 5-year course

• Years 1 to 4

• Fees payable by student, no Tuition Fee Loan available

• Year 5

• NHS Wales Fee Grant

Living Costs 2013/14 UK students from Wales 5-year, second degree

• Years 1 to 4– Full Maintenance Loan available

• Up to £4745 (away from home rate)

• Year 5– Partial non-means-tested Maintenance Loan

• 2012/3 - £2324 or £1811 in Final year– NHS Wales Bursaries

• Non means tested grant £1,000• Means tested bursary max £2591

EU Students

• Students can apply for fee support on the same basis as English domiciled students via the student loan and NHS grant

• Ineligible for living cost support– Some exceptions linked to:

• Length of time in UK• Family situation

Repayment of BorrowingRepayments begin from April after graduation if earning more than £21,000 p.a.

You repay 9% on income above £21,000

• Income £25,000 per year - repayments £30:00 per month



• Interest on loans will be applied at inflation (RPI) + 3% up until the April after you leave university

• If you are earning below £21,000 from the April after you leave university, interest will be applied at the rate of inflation

• If you earn between £21,000 and £41,000, interest will be applied between RPI and RPI + 3% on a gradual scale

• Earning above £41,000 interest will be applied at RPI + 3%

Repayment of Borrowing(subject to Parliamentary approval)

National Scholarship ProgrammeUniversity of Leicester National Scholarship • Only available to First Degree students from England (Years 1-4)• £3,000 award - £2,000 towards your tuition fee each year

- £1,000 cash each year• Eligibility linked to household income and academic ability• Application information provided after you receive your offer of a place at

Leicester

CULN College Transition Scholarship• £1,000 cash available in your first year only• For students from colleges which are members of the Colleges-University of

Leicester Network (CULN) • Apply through your local college

Further information at www.le.ac.uk/study/fees

• Parents Learning Allowance £1,508 max

• Childcare Grant max of £148:75 per week for one child and £255 per week for two or more children

• Adult Dependants Grant maximum of £2,642

SFE 2013-2014 rates shown – support may vary regionally

How to meet additional needs

If you are a parent or have an adult dependant you may be eligible for assistance through

additional means tested support

Sources of additional support

• Part-time work

• Bank overdraft / services

• Family

• Savings

• Charities / Trusts– http://www.turn2us.org.uk/– http://www.family-action.org.uk – http://www.money4medstudents.org

Further Information• University of Leicester funding

– www.le.ac.uk/fees

• Student Welfare Service– www.le.ac.uk/welfare– 0116 223 1185– [email protected]– @uolsupport

Further InformationWhere you normally live determines who you

apply to for support and information:

• England 0845 300 5090www.direct.gov.uk/studentfinance

• Northern Ireland Call local ELB www.studentfinanceni.co.uk

• Scotland 0845 111 1711 www.saas.gov.uk

Further Information• Wales 0845 602 8845 www.studentfinancewales.co.uk

www.cyllidmyfyrwyrcymru.co.uk

• NHS 0845 358 6655 www.nhsbsa.nhs.uk/

• NHS Wales 02920 196 167 www.wales.nhs.uk/siteplus/829/home

• EU +44 (0) 141 243 3570 www.direct.gov.uk/studentfinance

Thank you for listening -

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medicine open day student finance 2013/2014. introduction details relating to funding arrangements...

Documents

degree slide

fee grant year

fee loan year

living costs uk students

maintenance loan slide

grant loan

rates students

degree maintenance grant