Funding Higher Education A guide for parents/guardians - COLLEGE CAREERS TEAM
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- a merger between Uxbridge College & Harrow College
Funding Higher Education
A guide for parents/guardians
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.uk
• Loan Types
• Support your child's application
• Assessing household income
• Repayments
• Eligibility
Average university graduate earns
Women with degrees earn 51% more than those
£582,532 over their lifetime which is 23%
without, across their lifetime
more than those without a• degree
EU Nationals
• Extra financial Support
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.uk
“With headlines shouting about £50,000 student debt and that getting
bigger, …..it's safe to say many students and parents are scared by
this huge sum – and worry about how they'll ever repay it.”
Average university graduate earns
Women with degrees earn 51% more than those
£582,532 over their lifetime which is 23%
“How on earth will my child be able to afford to
more than those without a degree
without, across their lifetime
repay these debts if they get a poorly paying job?”
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.uk
Tuition Fee Loan Extra support
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SUBHEADER IN HERE
Support
package
MAINTENANCE
Loan
Student Finance England deal with the allocation of loans and students application.
Student Loans Company deal with the repayments when the student graduates.
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.uk
Loan Type
i *Up to £9,250 for full-time courses at a publicly-funded uni or college
or up to £6,165 for approved courses at private providers.
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.uk
COLLEGE CAREERS TEAM Careersteam@uxbridgecollege.ac.uk
Maintenance Loan 2021-22
The maximum amount you are eligible for also depends on whether you decide to live at home and whether you are
based in London.
Means Tested
living at home
£7,987 £3,516
Maximum £4,471 Minimum
Studying outside of London
£9,488 £4,422
Maximum £5,066
Minimum
Studying in London
£12,382 £6,166
Maximum £6,216 Minimum
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.uk
How to support a student's application?
For students starting course in September 2021,
SFE will require income and expenditure information for the tax year 2019 -2020
However, SFE understand your household income might have changed since then, for example because of the
COVID-19 outbreak, retirement or having a different job.
If you expect your household income to drop by 15% or more compared to the tax year SFE normally use, you
can ask them to calculate student finance based on your estimated income for the current tax year instead.
Student Finance England may contact you to ask for evidence of your
income – if the details you’ve submitted don’t match HMRC’s records
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.uk
How to support a student's application? If you’re supporting your child’s application, your household income is the combined income of you and: • your child • your spouse • your partner If you’re separated or divorced, your child should tell us who they live with or have most contact with. If they spend an equal amount of time with both of their parents, they’ll be asked to pick who will support their application. COLLEGE CAREERS TEAM Careersteam@uxbridgecollege.ac.uk
Assessing the household contribution SFE will work out parents' residual or net income (which includes the income of your parent’s partner, if they have one) by taking their gross income (before tax and National Insurance) and taking off allowances for the following: • payments into private pension schemes, additional voluntary contributions and employment related costs • £1,130 for any child other than you who is totally or mainly financially dependent on them • £1,130 if the parent is also a student COLLEGE CAREERS TEAM Careersteam@uxbridgecollege.ac.uk
Assessing the household contribution
Once SFE has taken off the relevant amounts and worked out parents’ residual income, they will add
this to students income and do an income assessment as follows:
Students living with parents
• no contribution for total income of up to £25,000
• £1 for every £7.43 of the total income over £25,000, until 44% of the full Maintenance Loan remains.
Students living away from home and studying in London
• no contribution for total income of up to £25,000
• £1 for every £7.24 of the total income over £25,000, until 49.8% of the full Maintenance Loan remains.
Students living away from home and studying outside London
• no contribution for total income of up to £25,000
• £1 for every £7.36 of the total income over £25,000, until 46.6% of the full Maintenance Loan remains.
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.ukEvidence of Student identity
I’m an EU/EEA national, what can I send?
I’m a UK national, what can I send? •original EU/EEA passport
• a valid UK passport, •original National ID card
Or you’ll need to send one of the following: •original ROI passport card
•original UK birth or adoption certificate (both long and
short versions are acceptable) I’m from outside of the UK, EU and EAA, what can I send?
•original certificate of Naturalisation/Registration •original non-UK passport
•original Home Office Biometric Residence Card
•original UK travel document
•original certificate of Naturalisation/Registration
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.ukStudent loans Max loan living at home per year : £9250 + £7987 = £17,237 Max loan studying outside London per year : £9250 + £9488 = £18,738 COLLEGE CAREERS TEAM Careersteam@uxbridgecollege.ac.uk
Student loans – Repayment
• Not like other loans.
• Only pay when you earn. (Graduate Tax)
• Start repayments the April after you graduate.
• Only start repayments if you are earning above £27,295 per year, (£2,274 per mth or £525.90 per week)
• Repay 9% of anything above £27,295.
• Automatically taken from your pay check
• Wiped after 30 years
• You reach age of 65
• Student may make voluntary repayments to their loan balance at any time without charge or penalty
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.ukRepayments
Income each year Income from which Monthly Repayment
before tax 9% is deducted (Approx)
£27,295 £0 £0
£30,000 £2,705 £20
£35,000 £7,705 £57
£40,000 £12, 705 £95
£45,000 £17,705 £133
£50,000 £22,705 £170
£60,000 £32,705 £245
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.ukREPAYMENT OVERVIEW
Students are charged interest from the day SFE makes the first payment to the student
or to the university or college until your loan has been repaid in full or cancelled.
Interest is added to your balance each month.
The interest rate charged is the Retail Price Index plus up to 3%, depending on your
circumstances and income.
• Income £27,295 or less – RPI only
• Income above £27,295 to £49,130 – Interest applied on a scale from RPI to RPI + 3%
• Income above £49,130 – RPI + 3%
• Withdrawn from / completed course and lost touch with SLC RPI + 3%
i
The interest rate is updated once a year using the RPI figure from March, currently
at 1.6%, which is carried forward and applied in September
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.ukStudent loans – Moving abroad to escape post Brexit Britain?
“I agree to tell SLC if I leave the UK to live outside the UK or if for any other reason I am outside the UK tax
system for more than three months.”
Repayments from overseas work similarly, with 9% of your earning over a certain threshold going to SLC.
But the thresholds are different depending on where in the world you’re living.
Example: how much you need to earn aboard before you start paying for your student loan:
Antarctica = £27,295 India: £5,315 Poland: £15,945
Australia = £31,890 Kenya: £15,945 Romania: £10,630
Bahamas = £31,890 South Korea: £21,260 Singapore: £15,945
China = £15,945 Netherlands: £27,295 USA : £27,295
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.ukWho can apply for independent status?
1. If you are irreconcilably estranged from both of your biological or adoptive
parents or only living parent
2. If you have supported yourself financially for a total of thirty six months prior to the
start of your course,
3. If you have been in local authority care for at least three months after your sixteenth
birthday, and are irreconcilably estranged from your parents
4. If you don’t know the location of your parents, or they are in a country where it is
considered dangerous for you to contact them
5. If you are 25 years old on the first day of the academic year;
i
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.ukWHO IS AN ESTRANGED STUDENT ? An Estranged Student is defined by SLC as: `A student who has limited / sporadic or no contact with either of their biological / legally adopted parents. Therefore they do not maintain what SLC would consider as a functioning relationship. This includes living away from parents and receiving no emotional or financial support` SLC should as far as possible, satisfy themselves that the estrangement and students circumstances are genuine and that reconciliation in the future is highly unlikely if not impossible. COLLEGE CAREERS TEAM Careersteam@uxbridgecollege.ac.uk
Eligibility
Whether you qualify for student finance depends on:
Your university or college
Your course
If you’ve studied a higher education course before
Your nationality or residency status
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.ukDo I Qualify?……Eligibility Your nationality, residency status and address history may affect if you can apply and the funding you can get. If you’re eligible for student finance you may be able to get funding to help with the costs of either: • your tuition fee and your living costs (full support) • your tuition fees only COLLEGE CAREERS TEAM Careersteam@uxbridgecollege.ac.uk
Who can get tuition fee and living cost support? - (Full Support)
To apply for full support, the following must apply to you:
you’ve been living in the UK, the Channel Islands or the Isle of Man for 3 years
before starting your course
England is your home, for example, you live and work in England and you’re one
of the following:
• a UK national or Irish citizen
• settled under the EU Settlement Scheme
• granted indefinite leave to remain for other reasons
There are other categories if you don’t fall into any of the above.
Call into the Careers Centre to discuss.
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.ukEU/EEA and Swiss Students: Settled Status and Pre-Settled Status
1. Must have arrived in the UK before 31 December 2020.
2. Applied for settled or pre-settled status under the EU Settlement Scheme (EUSS) no later than 30
June 2021 and meeting additional residency requirements.
•Settled Status – you must have lived in the UK, Channel Islands or the Isle of Man for a continuous five-year
period, known as ‘continuous residence’, and applied for settled status no later than 30 June 2021.
•Pre-Settled Status – you must have started living in the UK, Channel Islands or the Isle of Man no later than
31 December 2020 and applied for pre-settled status no later than 30 June 2021. You will not have lived in the
UK, Channel Islands or the Isle of Man for a continuous five-year period, known as ‘continuous residence’, at
the time of applying for pre-settled status. You can stay in the UK for five years from the date you are awarded
pre-settled status and apply to change your pre-settled status to settled status once you have five years’
continuous residence.
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.ukWho can get tuition fee support only ?
You can apply for tuition fee funding if you’ve been living in the UK, the EEA, Gibraltar or Switzerland for
the past 3 years and you have:
• pre-settled status under the EU Settlement Scheme and are an EU national or a family member of an
EU national
• Irish Citizenship or are a family member of an Irish Citizen or Person of Northern Ireland and you have
pre-settled status under the EU Settlement Scheme
• Gibraltarian status as an EU national
• been living in Gibraltar as a UK national
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.ukWho can get tuition fee support only ?
• EEA Migrant workers and their (non-EEA) family members are eligible for full student support.
o The student must be ordinarily resident within the UK/EEA for previous three years.
o Migrant worker status must be maintained throughout the course – where worker status is lost,
o the student is no longer eligible for support under the category and maintenance payments can
be pro rata paid.
o Migrant workers will be directed to paper PN1 form (cannot apply online)
o Both student and (if relevant) family member must provide evidence of their EUSS status.
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.ukSTUDENT FINANCE APPLICATIONS - KEY MESSAGE – APPLY EARLY
Each year thousands of students apply late for their finance and have no
way to pay for their course or accommodation, some even have to drop out
...don’t let that be you!
• Apply online at: gov.uk/studentfinance
• Apply early to make sure your student finance is ready for the start
of your course.
• You don’t need a confirmed place at university or college to apply.
• Apply with your preferred choice, you can change details later if required.
• The deadline for applications is 21 May 2021. If your application is late,
your money might be too.
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.ukMore information and guidance is available online: https://www.gov.uk/student-finance https://www.ucas.com/sfe https://www.thestudentroom.co.uk/ COLLEGE CAREERS TEAM Careersteam@uxbridgecollege.ac.uk
More information and guidance is available online:
www.moneysavingexpert.com/students/student-loans-tuition-fees-changes
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.ukEXTRA SUPPORT BURSARIES AND SCHOLARSHIPS
Many universities and colleges offer financial support to their students
through bursaries and scholarships:
Bursaries:
• linked to personal circumstances and often, household income
• awards can include discounted tuition fees, accommodation or cash
Scholarships:
• linked to academic results or ability in an area such as sport or music
• can be subject specific and are usually limited in numbers
Check university/college websites and ask at open days to see
what they offer and how/when to apply....don’t miss out!!
i
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.ukExample of Support from Universities
• The Academic Merit Scholarship (unlimited) worth £1,500 • Brunel Family discount 10% discount
• Santander bursaries for care leavers
• Brunel Sanctuary Scholarship (refugees)
• Brunel London Bursary - Low income
• Sporting Excellence
• Care Leaver bursary
• Nursing Scholarship
• BA Primary Education Male Student Scholarship
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.ukDisabled Students' Allowance - Help if you're a student with a learning difficulty, health problem or disability Disabled Students’ Allowance (DSA) is support to cover the study-related costs you have because of a mental health problem, long term illness or any other disability. Undergraduate students can get up to £25,000 a year for support. What DSA can pay for •specialist equipment, for example a computer if you need one because of your disability •non-medical helpers, for example a British Sign Language (BSL) interpreter or specialist note taker •extra travel to attend your course or placement because of your disability •other disability-related study support, for example having to print additional copies of documents for proof-reading COLLEGE CAREERS TEAM Careersteam@uxbridgecollege.ac.uk
Disabled Students' Allowance – How to apply 1) If you’re a full-time student and applying student finance, such as a Tuition Fee Loan, you’ll be able to apply for Disabled Students’ Allowance (DSA) from your online account after you’ve submitted your main student finance application. 2) If you’re only applying for DSA and no other type of student finance, you need to complete a paper application form (DSA1). 3) You don't have to have a confirmed university place to apply for DSAs. In fact, it's best to apply as early as possible but you can apply at any point during your studies. 4) You will be asked to provide proof of your impairment, condition, or learning difference (e.g. a diagnostic assessment of dyslexia, or a letter from a medical authority) and will be invited to attend a needs assessment once your application has been reviewed. 5) The application process for DSA can take around 14 weeks. You should apply and submit your evidence to Student Finance England as early as possible COLLEGE CAREERS TEAM Careersteam@uxbridgecollege.ac.uk
COLLEGE CAREERS TEAM Careersteam@uxbridgecollege.ac.uk
• dietetics
• dental hygiene / dental therapy (level 5 and level 6 courses)
• midwifery
• nursing (adult, child, mental health, learning disability,
The NHS Learning Support Fund (NHSLSF) joint nursing / social work)
is available to eligible students studying one • occupational therapy
of the following courses at a university in • operating department practitioner (level 5 and level 6 courses)
England as an undergraduate : • orthoptics
• orthotics and prosthetics
• paramedicine (including nurse paramedicine)
• physiotherapy (including MPhysio)
• podiatry / chiropody
• radiography (diagnostic and therapeutic)
• speech and language therapy
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.ukhttps://www.nhsbsa.nhs.uk/nhs-learning-support-fund
NHSLSF is made up of the following elements:
• Training Grant: a non-means tested grant of £5,000 each
academic
o Specialist subject payment: an additional £1,000 is
added to your account automatically if you’re studying
one of the following courses:
mental health nursing
Application system opens from 1 June 2021
learning disability nursing
radiography (diagnostic and therapeutic) Students who want to apply for NHS LSF need to be:
• studying on an eligible programme at a university in England
prosthetics and orthotics • Eligible for tuition fee and maintenance support from the SL
orthoptics and podiatry
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.ukWhat other extra help is there ?
Childcare Grant
you may be eligible for Childcare Grant if you:
are a full-time student
have children under 15, or under 17 if they have special educational needs
use a childcare provider who is registered with Ofsted
Parents’ Learning Allowance
Parents’ Learning Allowance is a grant that could help you with any learning costs during your course
Adult Dependents’ Grant
you can get if you have an adult who is financially dependent on you
All of the above and including Disabled Student Allowance do not have to be paid pay
COLLEGE CAREERS TEAM
Careersteam@uxbridgecollege.ac.ukWhere can I get help with my student finance application? COLLEGE CAREERS TEAM Careersteam@uxbridgecollege.ac.uk
UXBRIDGE CAMPUS Information HAYES CAMPUS Information Centre,
Centre, next to main reception next to main reception - Term time only
Opening times:
Opening times:
Monday – Friday: 9am to 5pm
Monday – Friday: 9am to 5pm (Closed 1pm to 2pm)
COLLEGE CAREERS TEAM
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