Money to study – a guide to funding your studies in 2014
•Download as PPTX, PDF•
1 like•12,936 views
This document provides information about funding options for university studies in 2014, including: - Tuition fees are £8,250-£9,000 per year for degrees and £6,750 per year for other qualifications. Support is available for fees through loans in England and Wales. - Maximum maintenance loans for living costs are £5,150 in Wales and £5,555 in England. Additional grants are available based on household income. - Loans are repaid once income reaches £21,000 annually. Interest is inflation plus 3%. Monthly repayments range from £0 to £142.50 based on income. - The university offers additional bursaries and scholarships including a Centenary B
Recommended
Recommended
More Related Content
What's hot
What's hot (20)
Similar to Money to study – a guide to funding your studies in 2014
Similar to Money to study – a guide to funding your studies in 2014 (20)
Recently uploaded
Recently uploaded (20)
Money to study – a guide to funding your studies in 2014
- 1. © University of South Wales Money to study – a guide to funding your studies in 2014 Student Money Advice Team
- 2. Degree - £8,250 or £9,000 yr * Foundation Degree, HND or Foundation Year - £6,750 yr * * Subject to HEFCW approval Support for fees England – Tuition Fee Loan up to £9,000 Wales – Tuition Fee Loan of £3,575 and Tuition Fee Grant to cover rest of fee © University of South Wales Tuition Fees - 2014/15
- 3. Support for Living Costs in 2014/15 Maximum Maintenance Loan for Wales - £5,150 England - £5,555 Non- income assessed Based on Income assessment
- 4. Support for living costs Grants & Loans for Welsh students living elsewhere in 2013/14 Household Income Grant Loan Total < £18,370 £5,161 £2,575 £7,736 £25,000 £3,347 £3,477 £6,824 £30,000 £2,099 £4,101 £6,200 £34,000 £1,142 £4,579 £5,721 £40,000 £734 £4,783 £5,517 £45,000 £393 £4,954 £5,347 £50,020 £50 £5,125 £5,175 £50,753 £0 £5,150 £5,150 £57,188 £0 £3,863 £3,863
- 5. © University of South Wales Support for living costs Grants & Loans for English students living Elsewhere in 2014/15 Household Income Grant Loan Total £25,000 or less £3,387 £3,862 £7,249 £30,000 £2,441 £4,335 £6,776 £35,000 £1,494 £4,808 £6,302 £40,000 £547 £5,282 £5,829 £42,620 £50 £5,530 £5,580 £42,875 £0 £5,555 £5,555 £45,000 £0 £5,341 £5,341 £50,000 £0 £4,836 £4,836 £55,000 £0 £4,331 £4,331 £60,000 £0 £3,826 £3,826 Over £62,132 £0 £3,610 £3,610
- 6. 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
- 7. Disabled Students Allowance Parents Learning Allowance Childcare Grant Adult Dependants Grant Special Support Grant Assessment is based on individual circumstances Additional Funding from the Government
- 8. •Guaranteed place in halls in first year of study •£1,500 towards your accommodation in first year of study To qualify: •Be personally liable to pay the full UK home rate tuition fee as applicable to your course •Live 45 miles + from Treforest campus (CF37 1DL) •Apply through UCAS for full-time honours degree at the University by 15th January 2014. See website for further details © University of South Wales Centenary Bursary
- 9. • Worth £750 plus an iPad To qualify: • Undertaking full-time honours degree • Achieve 320 UCAS points • Apply through UCAS for full-time honours degree at the University by 15th January 2014. See website for further details © University of South Wales Flying Start Scholarship
- 10. Further scholarships and bursaries are available including: • GradEdge Bursary • Sports scholarships • Welsh Medium scholarships • Many more… See website for further details © University of South Wales Support from the University of South Wales
- 11. Loans and grants: Welsh applicants apply via Student Finance Wales: www.studentfinancewales.co.uk English applicants apply via Student Finance England: www.direct.gov.uk/studentfinance Scottish applicants apply via Student Awards Agency for Scotland: www.saas.co.uk Northern Irish applicants apply via Student Finance Northern Ireland: www.studentfinanceni.co.uk Centenary Bursary & Flying Start Scholarship: Apply using online link by 26th April 2014. © University of South Wales How to apply
- 12. Other Costs to consider: • Students should be aware of other less obvious costs they may need to consider can include: • field trips • clubs/societies, • TV licence, etc. • Course costs – these can vary depending on course being studied. • Average living costs per campus can be found on the University website
- 13. Tel: 01443 483778 Email: money@southwales.ac.uk Web: http://www.southwales.ac.uk/money/ © University of South Wales Student Money Advice Team
Editor's Notes
- Presentation is applicable to students who: Are starting a full-time undergraduate course in Sept 2014/15. Anyone starting in 2013/14 should go to the advice team stand (give details on where stand is and times available, anyone for 2013 entry can then be excused).Are domiciled in Wales or England, and Are eligible for UK student support, and Have not studied previously at HE level for more than 1 year. If have studied for more than 1 year – refer to stand for further advice.
- Fee plan for 2014/15 have been submitted to HEFCW for approval. Expect a response within 1 month so fees should be finalised then. Details of fees to be charged for individual courses will be available at that point.The charge is £9,000 yr in area’s where the cost of provision is high e.g. Science technology, engineering and maths.All other degree courses are £8,250. Students studying a HND, foundation degree or foundation year (before subsequently going onto a degree) will be £6,750.
- In WALES 13/14 - 25% means tested, 75% non means testedIn ENGLAND 14/15 – 35%means tested 65% non-means testedMaintenance loan rates quoted above are for students living elsewhere. If living in parental home whilst studying then loans are £3,987 (Wales) and £4,418 (England).
- No major changes expected but the figures for Wales for 2014/15 entry are not yet available. Figures are for students living elsewhere, if live in parental home whilst studying then rates will be lower.Maximum loans - £5,150 (elsewhere) & £3,987 (parental home)Assessed on household income for previous tax year so that will be 12/13 tax year for 2014 entrants. Can ask for current year assessment if circumstances have changed.Wales £5,700 England £62,000
- Figures to be laid before Parliament over summer.Figures are for students living elsewhere, if live in parental home whilst studying then rates will be lower.Maximum loans - £5,555 (elsewhere) & £4,418 (parental home)Assessed on household income for previous tax year so that will be 12/13 tax year for 2014 entrants. Can ask for current year assessment if circumstances have changed.
- Income contingent – only repay when earning above set amount. Threshold is £21,000 per year (if working in UK). Interest set at rate of inflation + 3% whilst studying. After study interest depends on level of salary. Repayments are 9% of earnings over the threshold. Collected through the tax system and calculated monthly. Outstanding balance written off after 30 years. Personal credit does not affect Student LoanStudent Loan does not effect future credit although requirement to repay loans will be taken into account along with other commitments.
- DSA not means-tested but base don need.Rest are means-tested so based on individual circumstances.English rates for 2014/15 (welsh rates usually very similar) Parents Learning Allowance - £1,523 Childcare Grant – 85% of costs up to a maximum of: - £150 per week for 1 child - £257 per week for 2 or more children Adults Dependants Grant - £2,668
- Welsh residents will not normally qualify as they will be in receipt of a tuition fee grant and/or won’t meet 45 mile requirement.No open online application (as in the past), students will now be invited to apply by E&A once they have submitted an application for a place on a USW degree course. Must apply for course place by 15th January 2014.Additional terms: Must make separate online application to Centenary Bursary by 25th April 2014 (once E&A have sent them the link) Must accept place on course on firm basis by 7th May 2014 (i.e. Make USW their 1st choice institution) Also need to fulfil Accommodation procedures to apply for a place in halls of residence by 30th June 2014.
- Open to UK and EU students. 3 termly instalments of £250 in your 1st year An iPad in 1st termUCAS points must be from A levels, Welsh Bacc or International Bacc. Full terms and conditions will be on website.Additional terms: Must make separate online application to Flying Start Scholarship by 25th April 2014 (once E&A have sent them the link) Must accept place on course on firm basis by 7th May 2014 (i.e. Make USW their 1st choice institution)
- Applicants should check for further details on website. If not available now, should be available shortly.In general: GradEdge is grant to undertake work placement during studies. Sports scholarships are for those competing in their chosen sport at a national level. Welsh medium are judged on submission of welsh-medium work. Students have to commit to undertaking module in Welsh during studies.
- Apply for your funding BEFORE you go to University even if you have not yet been accepted on the course.Application processing time normally 6-8 weeks.You will need to provide: Financial details of household income for 12/13 tax year Passport or Birth Certificate – Re: Passport – English students already list Passport No on application and Welsh students entering Sept 2014 should also then be able to do this
- Students should be aware of other less obvious costs they may need to consider – field trips, clubs/societies, TV licence, etc. Course costs – can vary depending on course being studied. UOG – details on course page of website, Newport – average £200 per term.Information on average living costs – per campus (Treforest/CCI/Newport) are available on the money web pages. Useful if trying to work out a budget. INSERT LINK INTO SLIDE ON THURSDAY!Need to balance your finances – look at extra support from family, part-time work, etc. But also look at your spending, work out a budget, etc. The Student Money Advice Team can assist with this.
- Check what telephone number we should list. Should it be E&A or different for UOG/Newport?Individual advice and guidance Information on fees and funding Advice on alternative funding Info on bursaries and scholarships Drop in service and appointments