A Guide to Financial Support for NHS Students
Student Support & Wellbeing
Undergraduate Student Finance 2015-16
Student Support &
Wellbeing
Student Finance package
• Tuition Fee Loan (repayable)
• Maintenance Loan for living costs (repayable)
• Maintenance/Special Support Grants (non-repayable)
• Additional Grants for Students with
Children/Dependents/Disabilities (non-repayable)
• Loan Repayments
• Northumbria Bursary & Scholarship (non-repayable)
• How and when to apply for funding
Session Contents
A minute for… Student Finance England
Introduction to Funding
Eligibility criteria from Student Finance:
• Lived in the UK for 3 years prior to start of course
• Not hold an equivalent or higher level qualification
• Previous Study Rule
• There are exceptions to this, so please speak to an Adviser
Student Finance Eligibility
Tuition fees
• Northumbria University will be charging a tuition fee of £9,000 per academic year for new full-time undergraduates commencing their studies in September 2015.
• Fees do not have to be paid up front but can be if you choose to.
• Tuition Fee Loan is available, paid directly to the University. (non
means tested)
Living costs
Maintenance Support
Maintenance Grant
• Maintenance support is available to help with your living costs while in higher education (accommodation, food, bills, books,…)
• Two main types of support are available: Maintenance Loan and
Maintenance Grant.• The Maintenance Loan is repayable and all eligible students are entitled to receive some funding.
• The amount of loan available will depend where you live and study.
The loan is partially means tested.
• The Maintenance Grant is non repayable and fully means tested.
• Maintenance support is paid directly into your bank account each term.
Living costs
Means-testing
Maintenance Grant
Whose household Income is means-tested?
• Independent Student:
• Estranged from parents
• Over 25 at start of course (1st September)
• Have financially supported yourself for 36 months prior to start of course
• Have a child/children
• Care leavers (the University has additional support available for Care leavers, please speak to an Adviser)
• Dependent Student:
• Assessed on parental income
• Parental income of household where student lives (this includes step-parent or partner of parent)
• Previous tax year (13/14)
• Other financially dependent children are taken into account in financial assessment
• Current Year Assessment:
• If income has dropped by more than 15% (e.g. redundancy, self-employed)
Living costs
Maintenance Grant
Maintenance Grant • Non repayable Maintenance Grant up to £3,387 (means tested).
• If you receive the Maintenance Grant there will be a reduction in the amount of Maintenance Loan you receive.
• The amount available is dependent on household income:
• £25,000 or less = £3,387
• £25,001 to £42,875 = partial grant
• If you have an underlying entitlement to benefits, this will be called Special Support Grant and there is no reduction of Maintenance Loan.
Living away from home and studying outside London Non means tested element: £3,731 (65%)
Living Costs
Package of support 2015-16
Household Income
Loan for Living Costs
Non-repayable Maintenance Grant
Total Loan plus Grant
£25,000 or less £4,047 £3,387 £7,434
£30,000 £4,520 £2,441 £6,961
£35,000 £4,993 £1,494 £6,487
£40,000 £5,467 £547 £6,014
£42,620 £5,715 £50 (min grant) £5,765
£42,875 £5,740 (max loan) £0 £5,740
Living at home and studying outside London Non means tested element: £2,967 (65%)
Living Costs
Package of support 2015-16
Household Income
Loan for Living Costs
Non-repayable Maintenance Grant
Total Loan plus Grant
£25,000 or less £2,872 £3,387 £6,259
£30,000 £3,345 £2,441 £5,786
£35,000 £3,818 £1,494 £5,312
£40,000 £4,292 £547 £4,839
£42,620 £4,540 £50 (min grant) £4,590
£42,875 £4,565 (max loan) £0 £4,565
• Childcare Grant
Up to 85% of actual childcare costs Means tested
Up to a maximum £155.24 of for one child
£266.15 for two or more children
• Adult Dependants’ Grant
Financially dependant spouse/partner Means tested
Max £2,757
• Parents Learning Allowance
Parent with dependent children Means tested
Max £1,573
• Disabled Student Allowance (currently under review) Non means tested
Additional Financial Support
A minute for… Repayment
Repayments
Loan repayments
• Repayments are based on your income, not what you borrowed.
• Interest is charged from the day your first payment is made until the loan is paid off.
• For interest rates visit: www.studentloanrepayment.co.uk
• Full time students: you will be due to start repaying the April after you leave your course.
• You will only start making repayments if your income is over £404 a week or
£1,750 a month or £21,000 a year.
• A student loan deduction will be made if you exceed the weekly or monthly threshold.
• You pay 9% of your income over the threshold.
• Students on some ITT courses that lead to qualified teaching status (QTS) will be eligible for an additional Teacher training bursary.
• Teacher training bursaries can range from £4,000 - £20,000 and have qualifying criteria (subject area and degree classification).
• Teacher training bursaries are payable in addition to undergraduate funding from Student Finance. (Faculty administered)
• Further information is available at https://www.gov.uk/teacher-training- funding
Teacher Training Courses (PGCE)
• Eligible Social work students may be entitled to an additional Social work bursary in years 2 and 3
• These bursaries are payable in addition to undergraduate funding from Student Finance. (Faculty administered)
• There are a limited number of bursaries available, eligible students will be identified by the Faculty who set the internal criteria.
Social Work Bursary
No figures for 15/16 released yet.
•2014/15 Social Work Bursary for undergraduates is £4,862.50.
•A contribution to help with expenses for attending practice placements has been built into the bursary (£862.50 for full-time courses).
•The Social Work Bursary is administered by the NHS Business Services
Authority (NHSBSA) and is available to eligible students who don’t get funding from their employer and are studying an approved undergraduate course in social work and is non-repayable.
Social Work Bursary
Other financial support
Non-repayable
• Access to Learning Fund
• Part-time work/vacation work
• Paid placements (optional sandwich year)
• Family support
• Benefits/Child Tax Credit
• University Bursaries & Scholarships
Northumbria University has a generous bursary package.
•The Northumbria bursary will be based on household income.
•Households of £25,000 or below will be eligible.
•Payment will be made in 2 cash instalments (50% Feb - 50% May).
•Eligibility will be determined when you apply for one or more elements of the governments student finance package (Tuition Fee Loan, Maintenance Loan and Maintenance Grant) and will be means tested annually.
•Non-repayable.
Northumbria Bursary
Income Bands Cash Bursary
£0 to £16,000 £3,000
£16,001 to £25,000 £1,000
Northumbria University will award students an Academic Excellence Scholarship if you achieve more than 320 UCAS tariff points from your highest grades of 3 qualifications on entry.
This package paid in entry year only
Additional qualifying criteria :
Be ordinarily resident in the UK First degree
Northumbria your firm choice Register with Student Finance
Northumbria Scholarship
UCAS Points from your best 3 qualifications
Northumbria Academic Scholarship 50% February - 50% May
320-359 £2,000
360 - 399 £3,000
400+ £4,000
The Progression package is available for subsequent years based on grades
60 – 69.9% = £500 70% + = £1,000
https://www.northumbria.ac.uk/study-at-northumbria/fees-and- scholarships/home-students/full-time-undergraduate-bursaries-and- scholarships/
Progression Scholarship
• Gold, Silver and Bronze package
• Depends on level (international, national, county,…)
• Includes help with Tuition Fees, physiotherapy, training
• Figures to be confirmed for 15/16
• For more information, please visit: http://nusportcentral.com/team- northumbria/scholarships
• You MUST apply separately for this scholarship
Team Northumbria Scholarship
Payment
How you will receive your money
Applying for financial support
Applications for 15/16 will open in January 2015
Apply online via:
www.gov.uk/studentfinance
30 May 2015 Student finance deadline – must apply by this date to make sure all in place for Sept Receive Finance Entitlement letter Sign and return your declaration form
(online)
Sept/Oct 2015 Register at university – cannot receive financial support before doing this!
Further information
Northumbria University – Welfare and International Support www.northumbria.ac.uk/welfareandinternational
Student Finance England
Further information on government administered support and fees www.gov.uk/studentfinance
NHS Business Services Authority
Further information about bursaries for NHS-funded courses www.nhsbsa.nhs.uk
Money Saving Expert
www.moneysavingexpert.com/students
This presentation is available on our webpages.
Please visit the website below for more information:
http://www.northumbria.ac.uk/sd/central/stud_serv/sws/
