This document provides information about student finance options for UK/EU undergraduate students at the Royal Northern College of Music. It outlines the typical costs of tuition (£9,000) and living expenses (£6,500), and describes the various sources of financial support available, including grants, loans, bursaries and scholarships. Key details are given around eligibility, repayment terms and how to calculate your entitlements. Contact information is provided for any additional questions.

1. Student Finance
Adam Croucher
Student Finance Assistant

2. STUDENT FINANCE
UK/EU UNDERGRADUATE STUDENTS

3. What does it cost?
• Tuition Fee £9,000
• Living Costs £6,500 *
Accommodation
Food
Travel
* Based on 2011/12 Academic Year

4. How do I pay for my
studies?
• Self payer
• Grants not repayable
• Loans repayable
• RNCM Access Bursary * not repayable
• RNCM Scholarship not repayable
• Hardship Fund (ALF) not repayable
• Job

5. Grants and Loans
• Apply online (student & parents)
• www.direct.gov.uk/studentfinance
• Student & parents provide evidence
• Assessment approved
• Student receives assessment letter and returns
declaration
• Student receives payment schedule
• HEI confirms attendance – payment made

6. Maintenance Grants
A grant of up to a maximum of £3,250 is available to students
whose household income is under £42,600
(£0 - £25,000 = maximum grant)
If you receive a Maintenance Grant your Maintenance Loan
(Living Costs) may be reduced
Special Support Grants available to single parents, students with
a partner also a student and students with certain disabilities
UK only NOT EU Students

7. Loans
• All students can apply for
• Tuition fee loan £9,000
• Maintenance loan up to £5,500
• The actual amount depends on household income
and any maintenance grant awarded

8. RNCM Access
Bursary
To be confirmed

9. Package of Support
Household Non-repayable Living cost loan Total
Income Grant
£25,000 or less £3,250 £3,875 £7,125
£30,000 £2,341 £4,330 £6,671
£35,000 £1,432 £4,784 £6,216
£40,000 £523 £5,239 £5,762
£45,000 £0 £5,288 £5,288
£50,000 £0 £4,788 £4,788
£55,000 £0 £4,288 £4,288
£60,000 £0 £3,788 £3,788
Over £62,500 £0 £3,575 £3,575

10. Access to Learning
Fund (ALF)
Emergency fund
• Limited funds available to UK students who
have genuine hardship

11. Job
• To work or not?
• Realistically many students do need to work to
supplement loans/grants

12. National Scholarship
Programme
• New £150 million National Scholarship Programme to help students
from lower income families. The College has a limited number of
fee reduction bursaries to offer to undergraduate students resident
in England only
• Eligible students must apply for assessment to Student Finance
England and must have an assessed residual household income of
less than £25,000.
• The College’s criteria for selection will be based on household
income, though in the event of this being insufficient to
differentiate, performance at audition will be taken into account.
• Further details about the selection process will be made available
to applicants with confirmed places later in the year.

13. How can I work out what
I can get?
• Find out what you are entitled to by visiting
the ‘Student Loan and Grant Calculator’ at the
direct.gov website at
www.direct.gov.uk/studentfinance
• When you complete your application you will
be notified by Student Finance England of the
amount of support/loans you have been
awarded

14. How is it paid?
• Tuition Fee Loans – paid direct to RNCM
• Maintenance Loans and Grants – paid to student’s
bank account by SLC in three instalments
• RNCM Bursaries – paid to student’s bank account by
SLC
• ALF (if applicable) – paid to student by Student
Finance Office
• National Scholarship Programme

15. How do I pay loans
back?
• Repayable April after graduation
• Loan repayments made automatically by tax system
• Pay percentage of income on earnings over £21,000
(Subject to approval of Parliament) From 2017
earnings can exceed £21,000 before you begin
repaying back loan
• Earnings under £21,000 no repayment made

16. Loan Interest Rates
• Interest is charged on loan while you study. Until you
start repayment, interest charged at the rate of
inflation plus 3%
• You will be charged the following rates of interest
once you begin repayment
• Under £21,000 –rate of inflation
• £21,000-£41,000 - rate of inflation plus up to 3%
• Over £41,000 - rate of inflation plus 3%
• SUBJECT TO PARLIMENTARY APPROVAL

17. Repayment
Examples
Salary Amount of salary Monthly
from which 9% repayment
will be deducted
£25,000 £4,000 £30.00
£30,000 £9,000 £67.50
£35,000 £14,000 £105.00
£40,000 £19,000 £142.50
£45,000 £24,000 £180.00
£50,000 £29,000 £217.50
£55,000 £34,000 £255.00
£60,000 £39,000 £292.50

18. Information Update
You can get an update on information at
www.direct.gov.uk/studentfinance
Or follow Student Finance England on Facebook
and Twitter

19. Contact Details
studentfinance@rncm.ac.uk
Telephone number
0161 907 5223