Financing Higher Education

Aims and objectives

By the end of this session you will have;

• An understanding of why it is important that you begin to

thinking about student finance

• An overview of the main costs associated to university life

• An overview of the support available

• An overview as to how to apply for Student Finance and

how to pay it back

• www.exeter.ac.uk

Tuition Fees

• Universities and college can charge

between £6,000 and £9,000 per year

• The majority charge the full fees of £9,000

• You do not need to pay upfront


Living costs


Reason for spend Amount

Accommodation (catered) £5,760

Books and equipment £300

Food – lunches, coffees etc. £640

Clubs and societies £270

Clothing £270

TV licence £145

Travel home £150

Toiletries and haircuts £150

Telephone £270

Social life £1,120

House deposit for next year £370

Total £9,445

Available finance

• Tuition fee loan

• Living cost support

• Maintenance Loan

• Maintenance Grant

• Institutional support

• Other support


Sources of income


Type of funding

Maintenance grant

Maintenance loan

Maintenance loan

£3,387 (max)

Amount RepayableNon-

repayableMeans tested

Non-means tested

Full value up to

£9,000Tuition fee loan

£3,610to

£5,555

Support for living costs


Household Income

Maintenance grant

Maintenance 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£50,000 £0 £4,836 £4,836£60,000 £0 £3,826 £3,826£62,500 £0 £3,610 £3,610

Sources of income:


Type of funding Repayable Non-repayable

Means tested

Non-means tested

Fee waivers and bursaries (Including National Scholarship

Programmes)

Scholarships for academic excellence

Scholarships for music and sport

Scholarships for specific schemes

University support


Support Household income Bursary amount

Access to Exeter bursaries <£16,000 £2,000 for year 1 £1,500 for subsequent years

£16,001 - £25,000 £1000 for year 1 £1000 for subsequent years

Care leavers will receive a full fee waiver for all years of study and support for additional accommodation costs

Other support

• Disabled Students Allowance (DSA)

• Access to Learning Fund

• Dependence allowance

• Parental contribution

• Part-time employment


Paying back your loan

• You do not pay until you are earning over £21,000

• If your earnings change, your repayments change

• You start replaying April after graduation

• Interest is variable and is a lot less than normal loans

• After 30 year, your remaining loan will be written off


Paying back your loans


Annual Salary TOTAL MONTHLY REPAYMENT

<£21,000 £0.00£25,000 £30.00£30,000 £67.50£25,000 £105.00£40,000 £142.50£50,000 £217.50£60,000 £292.50

How do I apply?

• Visit the student finance website

• Complete the online application

• You will need to provide evidence of your

household income

• You can apply in early spring of the year of

entry

• Make sure you apply by the set deadline


Finding out more

Search online for…

• University of Exeter

• Student Finance Calculator 2014

• Student Loans Company

• Student Application Demo

• University scholarships


www.exeter.ac.uk01392 [email protected]

Financing Higher Education

Documents

Transcript of Financing Higher Education