• School of Management- Accounting & Finance, Business Administration (BBA), International Management and Modern Languages (IMML)

• Humanities and Social Sciences-Economics, Politics, European Studies & Modern Languages, Psychology, Sociology

Higher Education Higher Education FundingFundingSue Garrett, University of BathSue Garrett, University of Bath

• Tuition fees• Books and course extras• Accommodation (rent

and bills)• Food• Insurance • Travel• Social life • Clothes• Telephone

What are the main What are the main costs at University?costs at University?

These vary according to:

• Where you study• Length and type of

course• Year of study• Type of accommodation• Placements• Any additional needs

e.g.dyslexia software

Specific Living costsSpecific Living costs

Planning a budgetPlanning a budget

• Cost of Accommodation - University and Privately rented• Course costs – ask at the department for costs of course material, books, field trips etc• Check University web sites for their living cost guides• Part time work opportunities

Plan a budget for your First and Insurance choice University

How much will I need? How much will I need?

Rent – Academic Yr c 3230.00

Food @ £30 per week 1248.00

Personal Toiletries @ £17 per month 153.00

Laundry & Housekeeping @ £21 per month 189.00

Clothes @ £30 per month * 270.00

Travel, local & outside of Bath 431.00

Leisure/Social/Sport @ £30 per week 1,170.00

TV licence 143.00

Telephone/mobile 360.00

Health Costs (e.g. Contact lenses, Dentist, Prescriptions) 125.00

Books, photocopying, materials & equipment ** 300.00

Contents Insurance (£3,000 belongings & £1,000 laptop) 115.00

Emergencies 100.00

Other ?

Total £7,834.00

2011 UK Government Student support includes:-• Fee loan

• Maintenance loan (usually up to £4950)• Maintenance Grant for students from families on incomes of

up to £50020 (max is £2906 where family income is £25000 or less)

• Disabled Students Allowance DSA (for students with dyslexia or a disability/chronic illness (up to £20520 to cover extra annual costs plus equipment up to £5161)

What funding is What funding is available?available?

• Most Universities will charge tuition fees of £3375 in 2011 (Scotland has lower fees but courses usually longer)

• Inflationary increase each year but will not go up to higher 2012 entrants level

• Higher Overseas rate fees for Non UK students• Fees do not have to be paid upfront• All “home” UK students qualify for a Fee loan to fully cover their

full tuition fees regardless of family income• The Student Loan Company pays the fee loan direct to the

University

Tuition FeesTuition Fees

• If you are applying for in 2011 but request to be deferred until 2012 you are likely be charged the same 2012 fee as other new entrants ( up to £9000!)

Tuition Fees and gap Tuition Fees and gap yearsyears

Known as the Student loan• 72% non means-tested• Higher rate loan for

London - max £6928

• Lower rate for living at home - max £3838

• Elsewhere living away from home - max £4950 (min £3564)

• Paid directly to the student in three instalments (along with any maintenance grant)

Maintenance Loan

Maintenance GrantMaintenance Grant

Max Grant of £2906 pa for students whose family income is less than £25000

Partial Grant for students whose family income is less than around £50000

e.g. Grant of around £700 pa where family income is £40000

Grant is intended for living costs not for fees, paid directly into students bank account

2010 Entitlement guide

Family Household Income

£25000 £40000

£50020

£55000 £57800

Maintenance Loan Full year(not London)

£3497 £4595 £4925 £4106 £3564 (min loan)

Maintenance Grant

£2906 £711 £50(min grant)

£0 £0

Total £6403 £5306

£4975

£4106 £3564

Plus fee loan for all

Entitlement for 2011 (frozen at 2010 levels)

Applying for Applying for Student SupportStudent Support

• Centralised On line application at Student Finance England (linked from UCAS) www.direct.gov/studentfinance • Applications open 16th March • Deadline 31st May • Centralised On line application at Student Finance England (linked from UCAS) www.direct.gov/studentfinance• UCAS application information can be pulled into Student Finance application• Or you can apply separately

Under Finance for new students click Full-time students

Go to www.direct.gov.uk/studentfinance

Retrieve an estimate saved earlier or create a new one

www.direct.gov.uk/studentfinancecalculator(direct link)

2. Here you can Edit details about yourself to get a more precise quotation

1. Initial illustration of non-income assessed support

Select up to 5 courses

Then click to View your

entitlement

• Two loans – one for tuition fees and one for living costs

• Interest charged is reviewed regularly , usually once a year, based on RPI in March or the Bank of England Bank rate plus 1%, depending on which is lower ( currently 1.5% )

• Interest starts accruing as soon as the first instalment is paid

• Both loans are usually repaid through salary – like a tax after graduation but only if earning £15000 plus

• System of loan repayment will change for 2012 entrants but 2011 entrants repayments expected to remain as above

Repaying Student Repaying Student loansloans

Repayment optionsRepayment options

• Min repayments based on students earnings not level of loan e.g. earnings at £18,000 pay back £5.19 a week

• Payments stop if earnings stop or drop below £15,000 (it is not your parents loan!) • New 5 year repayment holiday option from 2012 • Can opt to repay more than the minimum or make additional repayments

Repaying your Repaying your loanloan

Income each year before tax

Monthly salary Approximate monthly repayment

up to £15,000 Below £1,250 0

£16,000 £1,333 £7

£18,000 £1,500 £22

£21,000 £1,750 £45

£24,000 £2,000 £67

£27,000 £2,250 £90

£30,000 £2,500 £112

• Scholarships – usually awarded on academic merit but can also be for Sporting or Musical excellence

• Bursaries – more likely to be income related but may have additional criteria

• All Universities must offer means tested Bursary minimum award of £338 per year in 2011

Bursaries and Bursaries and ScholarshipsScholarships

Bath Bursary Bath Bursary 20112011

Household Income Bath Bursary per year

£25,000 & below £1,200.00

£25,001 - £30,000 £900.00

£30,001 - £35,000 £600.00

£35,001 - £50,000 £300.00

• Apply early• Check that you meet the criteria e.g. Regional awards to encourage

students to study at a local UniversityWyman Somerset Bursary, University of Bath, £3000 per year any subject

ScholarshipsScholarships

Courses with additional fundingCourses with additional funding

Social Work• Up to around £4500 ,higher in London NHS courses• Must be accepted on a NHS funded place• Courses include Nursing, Physiotherapy,

Radiography, Dental Health• Students studying Medicine or Dentistry can

receive bursaries in their latter stages of their course

• See www.nhsstudentgrants.co.uk for both NHS or Social work courses

Funding for Part time study Funding for Part time study

Means tested Fee Grant and Course Grant

• Fee Grant - to help with tuition fees

• Course Grant - to help with study costs, such as books, materials and travel

• Maximum available through the Fee Grant and Course Grant combined is £1,495 for 2010/11.

Good Luck!Good Luck!