ST U DEN T

FINA NCE 2017

2 surrey.ac.uk

Tuition Fee Loan

Universities and colleges can charge up to £9,250 for full time UK and EU students in the academic year 2017/18. The University of Surrey will be charging £9,250. In 2018/19 the government has proposed to allow institutions which pass the TEF (Teaching Excellence Framework) to raise their maximum tuition fee cap in line with inflation. Students will not have to pay for tuition fees up front as all full-time UK/EU students are entitled to a Tuition Fee Loan from the government to cover the cost of fees regardless of household income. Tuition Fee Loans are paid directly to the institution and are administered by Student Finance England.

For Professional Training Years (PTY) the fee will be considerably lower and will vary from institution to institution, as an example the University of Surrey a PTY fee will be £1,800 for students undertaking a professional Training Year in in 2017/18.

For the most up-to-date information on fees, please visit:surrey.ac.uk/content/undergraduate-tuition-

fees-bursaries-scholarships

Maintenance Loan – 2017 entry

The Maintenance Loan is designed to pay for living costs e.g. accommodation, food, course books etc. This money is paid directly into your bank account in 3 termly instalments and is administered by Student Finance England. All UK students are eligible for this support. The amount of loan you are entitled to will depend on your household income and where you’ll live whilst studying.

Repayable support

Full rate (100%) Does not depend on

household income

Depends on

household

income

Living at home £7,097 £3,124 Up to £3,973

Living away from home,

outside London

£8,430 £3,928 Up to £4,502

Living away from home, in

London

£11,002 £5,479 Up to £5,523

You spend a year of a UK

course studying abroad

£9,654 £4,667 Up to £4,987

Breakdown of the maximum loan a student could be entitled to for 2017 entry

3University of Surrey

RepaymentThe Tuition Fee loan and Maintenance loan are added together to make ‘the Student loan’, in which the student is liable to pay; the loan does not pass on to parents/children. You are only liable to start repaying your loan once you’ve graduated and are earning over £21,000 a year. Repayment of the Student Loan does not begin until the April after the July in which the student graduates, so if you graduate in July 2020 repayments start in April 2021. Repayments are linked to what you earn, not what you owe.

If your income is £21,000 a year or less, you won’t have to make any repayments. When your income is over £21,000 a year, you will pay 9% of your income over this amount. The Student Loan is taken out of the students wage through PAYE. Any Student Loan remaining after a 30 year period will be written off and there will not be a penalty for early repayments.

If for any reason the students income drops below £21,000 then repayments will stop until the income returns above £21,000 again. For example, if you decide to take a career break or go on maternity leave or are unemployed, payments will be suspended. However, interest to the loan will still be applied. If the student moves overseas the payback threshold is adjusted according to cost of living in that country and has been agreed by the Student Loans Company.

Salary Amount of salary from which 9%

will be deducted

Monthly repayment

£25,000 £4,000 £30.00

£30,000 £9,000 £67.00

£35,000 £14,000 £105.00

£40,000 £19,000 £142.00

£45,000 £24,000 £180.00

£50,000 £29,000 £217.00

£55,000 £34,000 £255.00

£60,000 £39,000 £292.00

Please note: the figures in this table relate to 2017 entry

Monthly repayments a student could pay upon graduation

4 surrey.ac.uk

Interest ratesSituation Interest rate

While the student is studying (and up

until the April after you graduate)

Retail Price Index (PRI) plus 3%

April after graduation Interest will be based on their income:

- £21,000 or less = RPI

- Between £21,000 and £41,000 = RPI plus up to 3%

depending on income

-£41,000 and over =RPI plus 3%

5University of Surrey

Bursaries and Scholarships

We encourage applications from everyone with the ability to study for a Surrey degree, and understand that finance is a factor that affects most people’s decisions. We are committed to making sure that we offer support for students who might need it. Our bursaries and scholarships are competitive, with both merit-based and means-tested awards available.

Surrey Bursaries

In order to be eligible for a Surrey Bursary you must meet all of the criteria, you must be a UK or EU student and must be paying the full tuition fees.

You must also have correctly filled out and submitted your application to Student Finance England/Student Finance European Team for a loan and must also make sure that you and your parent/guardian have given your consent to share the information with the University.Please note that the scheme detailed below is subject to OFFA (Office for Fair Access) approval and therefore our bursary schemes may change in order to meet regulations. We currently anticipate offering the following to students commencing their studies at Surrey in 2017:

The 2017 Full Surrey Award

For students with a household income of less than £25,000 and who are resident in POLAR* postcodes 1 – 2 (Note - EU students may only be eligible for this award if they are ordinarily resident in the UK and meet all the criteria)

Non-repayable support

* POLAR (Participation of Local Areas) is a HEFCE classification for the participation in higher education by young people by geographical area in the UK. It’s used to measure the widening participation performance of universities.

The award of £3,000 for eligible recipients will be paid as follows for eligible students in full-time attendance at the relevant payment points (December and March):• Where the recipient is living on campus, the bursary will be paid against their accommodation fees.• Cash payments will only apply where the recipient is not living on campus.• Applicable in the first year of study and for subsequent years where a student progresses normally on their programme, but excluding the Professional Training Year or repeat periods of study.

Care leavers

The University of Surrey offers a guaranteed minimum bursary of £1,000 on entry to qualifying students who have been in local authority care. Eligible students will be under 25 years of age and will have been in care for at least 13 weeks after the age of 14.

The £1,000 is not paid in addition to the Full Surrey Award. The University will identify eligible students, so there is no application form for this scheme.

6 surrey.ac.uk

2017 Surrey Scholarships Scholarship Criteria Value

Surrey Merit

Scholarship

Awarded to direct-entry first year Undergraduate

students in the following subject areas:

Electronic Engineering , Mathematics , Mechanical

Engineering Sciences , Psychology. Open to

undergraduate students who select Surrey as their Firm

choice (by 20 July 2017), are paying the full £9,250 fees

and achieve the following grades in one sitting:

• A*AA at A-Level (excluding General Studies or

critical Thinking) or

• 38 points in the International Baccalaureate or

• Distinction*, Distinction*, Distinction in the BTEC

QCF Extended Diploma or

• AAAAA in Scottish Highers plus AA in Scottish

Advanced Highers in relevant subjects or

• A1A1A2A2A2A2 in Irish Highers or

• D3, D3, D3 in the principle subjects in the Cambridge

Pre-U

£2,000 cash award and

membership of Surrey

Sports Park for the first

year of study

Surrey Sports

Scholarship

• Achieve the required academic entry standard for

your chosen degree course

• Continue to meet the academic standards of your

course throughout your time at Surrey in order to

remain on the scholarship programme

• Be internationally recognised by at least one of the

major British sporting organisations: British

Universities and College Sports (BUCS), UK Sport

and Sport England. If not, you must be on a

National Governing Body (NGB) performance

pathway programme

7University of Surrey

Applying for Student FinanceYou can apply online through Student Finance England. You make your application in the year you wish to start your course. Applications usually open around January and close at the end of May.

The information relating to bursaries and scholarships in this leaflet is intended as an indicative guide to the financial support provided by the university.

The university endeavours to ensure that the information provided is accurate and up-to-date at the time of going to press (December 2016). However, it may be necessary for the university to make changes to some of the information presented in it. To make an informed decision, we advise you to consult the university’s website for up-to-date information. For up-to-date information regarding student loans please visit:gov.uk/student-finance

DisclaimerThe information in this brochure is intended as an indicative guide to the educational and other services provided by the University. The University endeavours to ensure that the information provided is accurate and up-to-date at the time of going to press (December 2016).

However, it may be necessary for the University to make changes to some of the information presented in it. To make an informed decision about whether you wish to study at the University, we advise you to consult the University’s website for up-to-date information.8062-1116

OPEN DAYSBook a place on one of our Open Days where you can

meet students and academics, explore our campus and discover more about the courses that have fired your interest.

Friday 30 June 2017Saturday 1 July 2017

Saturday 16 September 2017Saturday 14 October 2017

To book your place, please visit: surrey.ac.uk/opendays

CAMPUS TOURSWe run campus tours every Wednesday at 1pm –

a great opportunity to explore our facilities and services. For more details and to make a booking, please visit:

surrey.ac.uk/campustour

University of SurreyGuildford, Surrey, GU2 7XH, UK

T: +44 (0)1483 689 902E: study@surrey.ac.uk

surrey.ac.uk

Useful websites

surrey.ac.uk/discover/fees-fundingstudentloanrepayment.co.ukgov.uk/student-finance-calculator