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Money to study – a guide to funding your Nursing studies.

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Money to study – a guide to funding your Nursing studies by the University of South Wales Student Money Advice Team

Published in: Education, Health & Medicine
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Money to study – a guide to funding your Nursing studies.

  1. 1. © University of South Wales Money to study – a guide to funding your studies. Student Money Advice Team
  2. 2. • Tuition fees • Support for living costs • Additional allowances • Clinical placement costs © University of South Wales Funding 2016
  3. 3. Tuition Fees will continue to be paid by the NHS for nursing and midwifery courses © University of South Wales Tuition Fees
  4. 4. Non means tested grant of £1,000 Means tested bursary of up to £3,903* Non- means tested maintenance loan of up to £2,634 Means tested additional allowances for students with dependants *maximum for those studying 45 weeks per year © University of South Wales Support for living costs
  5. 5. Means-tested against parents, spouse or partners income. Nursing & Midwifery courses at the University are usually 42 and 45 weeks duration: Elsewhere rate: up to £3,651 (nursing) up to £3,903 (midwifery) Parental Home rate: up to £2,879 (nursing) up to £3,047 (midwifery) © University of South Wales Means Tested NHS Bursary
  6. 6. * Rates assume an academic year of 42 weeks . If more £84 p/wk elsewhere, £56 p/week home © University of South Wales Means Tested NHS Bursary Residual Income Parental home rate* Elsewhere rate* Under £24,279 £2,879 £3,651 £27,500 £2,495 £3,267 £30,000 £2,232 £3,004 £35,000 £1,706 £2,478 £40,000 £1,180 £1,952 £45,000 £653 £1,425 £50,000 £127 £899 £55,000 0 £373 £60,000 0 0
  7. 7. Not means-tested © University of South Wales Maintenance Loan If normally reside in Wales If normally reside in England Parental home rate £2,272 £1,863 Elsewhere rate £3,030 £2,483
  8. 8. Repayment of Loans Repayments start once earning £21,000 per year Interest is based on Inflation Rate plus 3% Annual Income Less than £21,000 £25,000 £30,000 £35,000 £40,000 Monthly repayments Nil £30 £67.50 £105 £142.50
  9. 9. Dependants allowances (means tested): • Spouse or other adult dependant, OR £2,448 yr First child (if there is no adult dependant) • Children £549 yr per child • Parents Learning Allowance £1,204 yr © University of South Wales Additional NHS allowances 16/17 rates
  10. 10. Childcare grant (means tested): Can cover 85% of registered childcare costs: • £128.78 per week towards costs for 1 child • £209.95 per week towards costs for 2 or more children Disabled Students Allowance (not means tested): Help to apply for DSA available from Disability & Dyslexia Service © University of South Wales Additional NHS allowances 2016/17 rates
  11. 11. • Students may be able to receive assistance with clinical placement costs. • This is means-tested (via bursary assessment). • Submit claims for assistance through the University once studying. © University of South Wales Clinical placement costs
  12. 12. NHS bursary, grant and additional allowances: You can apply online at http://www.nwsspstudentfinance.wales.nhs.uk/boss Guidance and information on application process is available at: http://www.nwsspstudentfinance.wales.nhs.uk/home Maintenance loan: Apply for maintenance loan through your Local Authority or Student Finance Wales/England Student Finance Wales Student Finance England www.studentfinancewales.co.uk www.gov.uk/student-finance© University of South Wales Applying for funding
  13. 13. Council Tax • As a full-time student, you may be entitled to council tax exemption or a 25% discount Tax credits • Can claim tax credits (if normally eligible) Hardship Fund • Discretionary help from the University for students who need additional financial assistance • Any assistance given is usually in the form of a grant • Apply once enrolled and funding is finalised © University of South Wales Other financial information
  14. 14. For Information, Advice & Guidance: Tel: 01443 483778 (Mon – Fri, 9.00 – 12.00) Email: money@southwales.ac.uk Web: http://www.southwales.ac.uk/money/ © University of South Wales Student Money Advice Team

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