Student Financial Support 2014/15 (PDF, 1MB) - University of Bradford
Student Financial Support 2014/15 (PDF, 1MB) - University of Bradford
Student Financial Support 2014/15 (PDF, 1MB) - University of Bradford
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STUDENT FINANCIAL SUPPORT<br />
<strong>2014</strong>/<strong>15</strong><br />
SARAH VERBICKAS<br />
<strong>Student</strong> <strong>Financial</strong> <strong>Support</strong> Manager<br />
<strong>University</strong> <strong>of</strong> <strong>Bradford</strong>
UNIVERSITY FINANCE:<br />
THE MAIN POINTS<br />
Tuition Fees and Tuition Fee Loans<br />
Living Cost (Maintenance) Loans<br />
Living Cost (Maintenance) Grants<br />
Applying for <strong>Financial</strong> <strong>Support</strong><br />
The National Scholarship Programme<br />
Other <strong>University</strong> <strong>Financial</strong> <strong>Support</strong><br />
Repayments<br />
Key facts<br />
Useful Information and Contacts
TUITION FEES<br />
YOU DO NOT HAVE<br />
TO PAY THESE FEES<br />
UPFRONT IF YOU ARE<br />
GOING TO UNIVERSITY<br />
FOR THE FIRST TIME<br />
£9,000 Full Time Degree<br />
£7,500 Foundation Degree<br />
£6,000 Foundation Year<br />
£9,000 Clinical Sciences (Foundation Year)
WHY £9,000 FEES?<br />
BEFORE<br />
2012<br />
£<br />
STUDENT<br />
FEE<br />
£<br />
GOVERNMENT<br />
CONTRIBUTION<br />
£<br />
TOTAL<br />
TUITION<br />
FEE<br />
FROM<br />
2012<br />
ONWA RDS<br />
£<br />
STUDENT<br />
FEE<br />
£<br />
TOTAL<br />
TUITION<br />
FEE
TUITION FEE LOANS:<br />
Repay after you have finished<br />
your course<br />
No payments due until you are<br />
earning over £21,000<br />
At a salary if £24,000 you pay<br />
back just £5.19 a week.<br />
Loans are written <strong>of</strong>f after<br />
30 years.
LIVING COST<br />
(MAINTENANCE) LOANS<br />
To help with living and<br />
learning costs<br />
Paid directly into the<br />
student’s bank account<br />
Paid in 3 instalments –<br />
one each term<br />
Amount depends on family<br />
income (means-tested)
LIVING COST LOANS<br />
<strong>2014</strong>/<strong>15</strong><br />
WHERE WILL YOU<br />
BE LIVING?<br />
MAXIMUM<br />
LOAN<br />
LONDON £7,751<br />
ELSEWHERE<br />
(LIVING AWAY FROM HOME<br />
BUT NOT IN LONDON)<br />
£5,555<br />
HOME £4,418
LIVING COST<br />
(MAINTENANCE) GRANT<br />
Up to £3,387 for family<br />
incomes up to £25,000<br />
A partial grant is available<br />
for family incomes between<br />
£25,000 and £42,620<br />
Means tested<br />
Non-repayable<br />
Paid into your bank account in<br />
3 instalments – one each term
LIVING COST<br />
(MAINTENANCE) GRANT<br />
HOUSEHOLD INCOME LIVING COST GRANT LIVING COST LOAN TOTAL<br />
£25,000 or less £3,387 £3,862 £7,249<br />
£30,000 £2,441 £4,335 £6,776<br />
£35,000 £1,494 £4,808 £6,302<br />
£40,000 £547 £5,282 £5,829<br />
£45,000 £0 £5,341 £5,341<br />
£50,000 £0 £4,836 £4,836<br />
£55,000 £0 £4,331 £4,331<br />
£60,000 £0 £3,826 £3,826<br />
£62,132 £0 £3,610 £3,610
APPLYING FOR<br />
FINANCIAL SUPPORT<br />
Apply for student finance online<br />
Supply your parent(s’)/partner’s<br />
income details – you may get<br />
more support if you submit<br />
household income information<br />
Make sure you give consent for<br />
your information to be shared<br />
with the <strong>University</strong> so we can<br />
assess you for scholarships<br />
and bursaries if available
THE NATIONAL<br />
SCHOLARSHIP<br />
PROGRAMME<br />
The <strong>University</strong> <strong>of</strong> <strong>Bradford</strong> will <strong>of</strong>fer:<br />
£1,500 fee waiver in year one<br />
£1,000 accommodation bursary for The Green<br />
(or further £1,000 fee waiver) in year one<br />
£500 pre-paid card for <strong>University</strong> services<br />
Free placement year as part <strong>of</strong> a<br />
sandwich course<br />
We have 644 scholarships to award in <strong>2014</strong>.
THE NATIONAL<br />
SCHOLARSHIP<br />
PROGRAMME<br />
CRITERIA<br />
<strong>Student</strong>s living in England on full time courses<br />
with £9,000 fees<br />
Household income under £25,000<br />
Made <strong>Bradford</strong> your firm choice via UCAS<br />
Applied for student finance by the deadline -<br />
usually end <strong>of</strong> May<br />
Awards given to lowest incomes upwards
UNIVERSITY OF BRADFORD<br />
SCHOLARSHIPS AND SUPPORT<br />
Not yet agreed for <strong>2014</strong>/5 but in 2013 we <strong>of</strong>fered<br />
Cash Scholarships for ABB grade or<br />
equivalent and above (as listed on our<br />
website) for both UK and EU students<br />
• £1,500 guaranteed in year one<br />
• £1,000 in subsequent years<br />
subject to progession<br />
Additional support and grants for<br />
care leavers<br />
Scholarships for International <strong>Student</strong>s
REPAYMENTS<br />
Repayments begin after you<br />
have finished/ left your course,<br />
and are earning over £21,000<br />
per year<br />
Repayments are automatically<br />
deducted from your earnings<br />
like tax<br />
The repayment rate is 9% <strong>of</strong><br />
any earnings over £21,000<br />
The more you earn, the more<br />
you repay<br />
After 30 years you won’t need to<br />
make any further repayments<br />
Tax and<br />
National<br />
Insurance<br />
<strong>Student</strong> Loan<br />
Repayments<br />
Money<br />
in your<br />
REPAYMENTS<br />
INCOME EACH YEAR<br />
APPROXIMATE MONTHLY REPAYMENT<br />
BEFORE TAX STUDENTS WHO STARTED BEFORE 2012 STUDENTS STARTING IN 2012 OR BEYOND<br />
£<strong>15</strong>,000 £0 £0<br />
£16,000 £0 £0<br />
£18,000 £12 £0<br />
£21,000 £35 £0<br />
£24,000 £57 £23<br />
£27,000 £80 £45<br />
£30,000 £102 £68<br />
£35,000 £140 £105<br />
£40,000 £177 £143<br />
£50,000 £253 £218
INTEREST ON LOANS<br />
INTEREST STARTS TO ACCRUE ON THE<br />
LOANS WHILST YOU ARE STUDYING.<br />
From the April after you’ve finished<br />
your course you’ll be charged:<br />
The rate <strong>of</strong> inflation if you earn £21,000<br />
or less<br />
The rate <strong>of</strong> inflation plus up to 3% if you<br />
earn between £21,000-£41,000<br />
The rate <strong>of</strong> inflation plus 3% if you earn<br />
over £41,000
STUDENT FINANCE<br />
KEY FACTS<br />
MOST STUDENTS WILL<br />
NE VE R RE PAY<br />
WHAT THEY OWE<br />
£<br />
MONTHLY<br />
REPAYMENTS ARE<br />
THE SAME<br />
NO MAT TE R<br />
WHAT FEE THE<br />
UNIVERSITY<br />
CHARGES<br />
STUDENT LOAN DEBT<br />
DOES NOT<br />
IMPACT<br />
ON YOUR<br />
CREDIT<br />
R ATING<br />
THERE IS NOW<br />
INTEREST<br />
CHARGED ON<br />
STUDENT LOANS<br />
BUT IT IS<br />
MUCH LOWER<br />
THAN RATES CHARGED<br />
ON COMMERCIAL LOANS
USEFUL INFORMATION<br />
AND CONTACTS<br />
studentfinance-yourfuture.direct.gov.uk<br />
www.moneysavingexpert.com/family/<br />
student-loans-tuition-fees-changes<br />
www.bradford.ac.uk/<br />
fees-and-financial-support<br />
<strong>University</strong> <strong>of</strong> <strong>Bradford</strong> <strong>Financial</strong> <strong>Support</strong><br />
money@bradford.ac.uk 01274 23 6637
ANY QUESTIONS?<br />
THANK YOU<br />
FOR LISTENING
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