Student Funding

arrangements for 2012/13

● Tuition Fees and Tuition Fee Loans

● Living Costs Loans and Grants● Bursaries / National Scholarship Programme

Tuition Costs• Tuition fees are different at each

University, usually between £6,000 - £9,000 per year.• Fees will rise each year in line with

inflation.

• University of Portsmouth £8,500• University of Southampton £9,000• Winchester University £8,500• University of Surrey £9,000

Tuition Fee Loan•Tuition fees do not have to be paid

upfront. Eligible Home (UK) and EU students can apply for a loan to cover these costs, whether they study part or full time.

•Eligibility depends on residency status in the UK, and any previous study students may have done (either in the UK or elsewhere).

•Loans are repaid after graduation, depending on income.

Living Costs Loans•Loans for living costs will be available for all eligible

English full-time students.•Loans are partially income assessed.•Repayment terms are the same as the Tuition Fee

Loan.•Different support for living costs will be available to

students from Scotland, Wales and Northern Ireland.Living arrangement Maximum LoanLiving in parental home £4,375Living away from home and studying elsewhere £5,500Living away from home and studying in London £7,675

Living Costs Grant● An income assessed grant for living costs will be

available for all eligible English full-time students.● If you receive a grant you will receive a lower rate

of living cost loan

Household Income Living Cost GrantUp to £25,000 £3,250From £25,001 - £42,600

Partial grant

£42,600+ No grant payable

National Scholarship Programme• For students from low-income households• Scholarships will be worth at least £3,000 and given to

students in the form of tuition fee discounts and other benefits.• Each university will design its own scholarship scheme

so you’ll need to check to see what the university you’re interested in attending is offering. • Institutions may have a limited number of scholarships

available and may apply additional eligibility criteria.

University of Portsmouth Bursary

Household Income Tuition Fee Discount

Living Cost Bursary

£25,000 or less £2,000 in first year of study only

£1,000 each year

From £25,001 - £32,000

- £1,000 each year

From £32,001 - £42,600

- £500 each year

Over £42,600 - -

• For full-time, English students• Numbers are not limited

Basic Student Support 2012/13 SummaryStudents living away from home studying at Portsmouth

Household income Tuition Fee Loan Living Costs

GrantLiving Costs

LoanUniversity of Portsmouth

BursaryUp to £25,000 £6,500* £3,250 £3,875 £1000

Up to £30,000 £8,500 £2,341 £4,330 £1,000

Up to £35,000 £8,500 £1,432 £4,784 £500

Up to £40,000 £8,500 £523 £5,239 £500

Up to £50,000 £8,500 - £4,288 -

Up to £60,000 £8,500 - £3,788 -

Above £62,500 £8,500 - £3,575 -

* Due to Tuition Costs discount in first year, £8,500 in all other years

Studying outside England • Wales

o Tuition fees up to £9,000 depending on institution (loan available)

o Living costs loan and grant available from SFE (if eligible)o Institutional support / bursaries unlikely

• Scotlando Tuition fees up to £9,000 depending on institution (loan

available)o Living costs loan and grant available from SFE (if eligible)o Institutional support / bursaries unlikely

• Northern Irelando Tuition fees up to £9,000 depending on institution (loan

available)o Living costs loan and grant available from SFE (if eligible)o Institutional support / bursaries unlikely

Studying outside England • Other EU countries

o Tuition fees that match students from that country – i.e. if no fee charged to them, no fee charged to UK student

o No living costs support from either country

• Rest of the world (US, Australia...)o No support at all for fees or living costs

Additional Support• Disabled Student’s Allowance – helps with costs

associated with disabilities or learning difficulties. - up to £20,520 for a non-medical helper

- up to £5,161 for equipment - up to £1,724 for general costs

• Parent’s Learning Allowance – for students with children, up to £1,508

• Childcare Grant – can cover up to 85% of childcare costs.

• Adult Dependents Grant – for students with an adult child or partner who is wholly financially dependent on them, up to £2,642

Assessed household income• Students under 25 years old are classed as

DEPENDENT• The income of both parents will be used for the

assessment (10/11 tax year)• If parents have separated, the income of the

parent that the student ordinarily resides with will be used• If that parent lives with a partner then their

income will also be included.

NHS funded courses• BSc Radiography• BSc Dental Hygiene & Therapy• DipHE Operating Department Practice• CertHe Dental Nursing

• Tuition fees will be paid by the NHS• Students can apply for:• A Living Costs Loan of £2,324• A non-means tested NHS Grant of £1,000• A means tested NHS bursary of up to £4,395

– depending on household income and number of weeks studied.

Estimated weekly living costsbased on current costsHalls of residence £75 - £119Private accommodation £70 - £75Food and housekeeping £30 - £35Utility bills £10 - £15

Other variable costs include:Travel £5 - £10Phone £5 - £10Contents insurance £2- £3Books and study equipment £350 (average per year)TV Licence £145.50 (per year)Social and leisure costs £25 - £35

You will also need to pay towards your accommodation before you get your student

funding paid. This could be £200 advance rent for a room in halls, or a deposit plus possible fees for a room in a shared house, so try and save over the

summer

When and how to apply

• Apply online at www.direct.gov.uk/studentfinance• Or, fill in a paper application form,

available on-line or from Student Finance England – 0845 300 50 90• Recommended application deadline is

likely to be 31 May 2012

Loan Repayments

• Loan repayments start the April after the student has left the course, only if they are earning over £21,000.•Graduates repay 9% of their income

over £21,000.•Any outstanding balance is written off

30 years after entering repayment.• Interest rate will vary depending on

earnings, between RPI and RPI+3%.

Loan Repayments• Repayment examples:• Earnings up to £21,000 – no repayments• Earnings £25,000 = £30 per month• Earnings £30,000 = £67.50 per month• Repayments are only based on graduates

income (and are taken directly from salary)• Interest charges will vary based on income

level – maximum = RPI + 3%

Case study: Josh• Josh starts work as an Administrator in London on a

starting salary of £25,000• His take home pay is £1,613.50 a month• His initial repayments are £30 a month• He receives an annual pay rise of 3%• 29 years after graduation his salary is £58,914 and his

monthly repayments are £284• After 30 years his outstanding balance is written off• The total Josh has repaid is £50,345• The total Josh borrowed was £47,500.

Case study: Paul• Paul starts work at a salary of £19,000 so he does not

make repayments initially.• After 4 years his salary has risen to £21,320 so he starts

to make monthly payments at £2.40 a month.• After 6 years he gets a new unpaid job a charity, so his

repayments stop.• He goes back to paid employment 17 years after

graduation, on a part-time basis. He earns £10,508 a year initially, so still does not have to make any repayments.• When Paul is 42 he starts working full-time again, with a

salary of £21,653, making his repayments £4.90 a month.• After 30 years his outstanding balance is written off.• The total Paul has repaid is £3,701• The total Paul borrowed was £42,214.

Further information

• www.direct.gov.uk/studentfinance

• www.yourfuture.direct.gov.uk •www.direct.gov.uk/studentfinancecalculator

• www.bis.gov.uk/studentfinance

Getting in touch

• Drop in: Second Floor, Nuffield Centre, St Michael’s Road

• Phone:(023) 9284 3014

• Email us:student.finance@port.ac.uk

• Web: www.port.ac.uk/money

Any Questions?