Fees, Funding and Finance2014-15 entry

How much does University cost?Tuition Fees• Full time courses up to £9,000 per year

tuition fees• Part time courses up to £3,375 per year

Living Costs• Accommodation, food, travel, social life

How will you pay for it?• Tuition Fees

- You don’t pay anything upfront

- You receive a Tuition Fee loan to pay your fees every year (not based on household income)

Key Points – Money for tuition fees• Fees are maximum £9000 each year

but there are exceptions and for some students fees can vary during their course.

• All UK/EU students can take a loan from the government to pay for their fees.

• Living Costs

- Maintenance Loan – up to £5,555

- Maintenance Grant – up to £3,387

Dependent on household income

How will you pay for it?

How will you pay for it?

Key Points – Money for living costs• All English students can apply for a

government loan of £3610 to help with living costs.

• Depending on your household income you may be eligible for a loan up to £5555

• Depending on your household income you may be eligible for a grant of up to £3387

• Bursaries- Linked to household income- Free money from The University

How will you pay for it?

National Scholarship Programme (NSP) award

- Linked to household income and postcode

If your household income is less than £25,000 and you live in one of the specified postcodes you’ll get a £6,000 award. This can be taken as:• £6,000 tuition fee waiver• Accommodation waiver + payment • £6,000 payment

How will you pay for it?

Key Points – Money from the University• Bursaries and scholarships are

payments to you. This is in addition to government loans and grants. University money does not have to be paid back.

• Fee waivers mean you do not have to borrow as much money to pay for fees.

19/04/2023

Part time work opportunities • Many of our students work part time to help with

living costs with the added benefit of developing key employability skills.

• Our Student Jobshop advertises all the latest vacancies and staff can offer professional advice.

• As well as part-time work, the Jobshop also has details of vacation work, internships and year-long placements.

City ScholarsYou need- ABB grades at A Level (or equivalent) or higher - Be living in a low participation area in the Sheffield City Region.

You get£1,500 per year for every level of your course.

DetailsThere are an unlimited number of awards.You don't need to apply for this scheme, as it is automatically assessed.

1. Sheffield2. Rotherham3. Barnsley4. Doncaster5. Chesterfield6. NE Derbyshire7. Bolsover8. Bassetlaw9. Derbyshire Dales

Map credit: AxG

Global ScholarsYou need- A*AA grades at A Level (or equivalent) or higher.

You getYour air fare to an overseas summer school, as well as tuition and accommodation whilst you are there.

DetailsThere are 30 awards on offer.The summer school will be at one of our partner institutions and you'll need to go in the summer after your first or second year.

Masters ScholarsYou need - A*AA grades at A Level (or equivalent) or higher. - Apply for selected undergraduate courses in Arts & Humanities or Social Science. You getThe University will pay the standard masters fee towards your postgraduate study with us.

DetailsThere are 50 awards on offer.You need to start your masters straight after you finish your degree and meet the entry requirements for the course.

Key Points – Scholarships

• Some scholarships help you do other things e.g. go abroad or do a postgraduate course. They are not always a payment to you but still add value to your student experience.

• Invaluable experience and confidence.• The Student Jobshop can help you find part time

work during term time, vacations and for your a year out on placement.

• The University is a regular employer of students too.

Part Time Work

Student Loans

• Repayments start:

- The April after you graduate

- When you are earning over £21,000• Interest charged• Anything unpaid after 30years is written off

Tuition fee loan Maintenance

loanStudent

loan

• You pay back 9% of anything over £21,000 that you earn

• Therefore if you earn £22,000; you repay 9% of £1000 - £90 per year or £7.50 per month

• Repayments are based on what you earn – not what you owe

Student Loans – an example

Your salary You pay back 9% of

Monthly Pay (Gross)

Monthly repayments

£25,000 £4,000 £2,083 £30

£30,000 £9,000 £2,500 £68

£50,000 £29,000 £4,167 £217

Applying for Student Finance

https://logon.slc.co.uk/cas/login

How much will I get?

www.shef.ac.uk/moneytools

Budgeting

Key Points – What money will I have?• Use the online calculator to find out:

www.sheffield.ac.uk/fees2014• Make sure you find out how much

things cost and work out a budget before you go to university:www.sheffield.ac.uk/moneytools

• Most students put together a personalised funding package

• You don’t have to pay anything upfront to go to university

• Most students say that the University experience is worthwhile academically, socially and financially

• Finally… an average graduate earns £12,000 per year more than an non-graduate every year of their of working life (ONS, 2011)

Final Thoughts

Thank you for listening.

Any Questions?

financialhelp@sheffield.ac.uk