Financing Higher EducationType the author’s name and date of presentation here

Why do I need to think about finance?

• Tuition fees

• Living Costs

• Support

What are tuition fees?

• Universities and colleges 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!

What finance could I be entitled to?

Student support 2014/2015

• Tuition Fee Loan

• Living Cost Support

• Maintenance Loan

• Maintenance Grant

• Institutional Support

Type of funding

Sources of Income: Government

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

Total support for living costsHousehold

IncomeMaintenance

grantMaintenance

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

Type of funding

Sources of Income: Institution

Fee waivers and bursaries (Including National Scholarship

Programmes)

Scholarships for music and sport

Scholarships for specific schemes

RepayableNon-

repayableMeans tested

Non-means tested

Scholarships for academic excellence

What are universities doing?

• Exeter National Scholarships – for incomes below £16,000• £2,000 bursary for Year 1 and £1,400 bursary for subsequent years of

study

• Access to Exeter bursaries – for incomes above £16,000• £1,000 per year for household incomes between £16,000 and £25,000• £750 per year for household incomes between £25,000 and £35,000• £500 per year for household incomes between £35,000 to £42,600

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

Is there any more help?

• Other forms of funding

• Disabled Students Allowance• Access to Learning Fund• Dependence Allowance• Parental contribution• Bank overdraft• Vacation and term time earnings

Paying back your loansAnnual Salary TOTAL MONTHLY REPAYMENT Amount of salary from which

9% will be deducted

<£21,000 £0 £0

£25,000 £30.00 £4,000

£30,000 £67.50 £9,000

£35,000 £105.00 £14,000

£40,000 £142.50 £19,000

£50,000 £217.50 £29,000

£60,000 £292.50 £39,000

Will I be able to afford to pay it back?

• If you do not earn over £21,000, you do not pay

• If your earnings fall, you pay less

• You start repaying April after graduation

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

• After 30 years, the balance of the loan will be written off

How do I apply?

• Visit the student finance website (www.gov.uk/studentfinance)

• Complete the online application

• You will need to provide evidence of your household income

• You can apply in early spring of your year of entry• Early 2014 for 2014/15 entry

• Make sure you apply by the set deadline• May 2014 for 2014/15 entry

Where can I find out more?

• Search online for…

• University of Exeter

• Student Finance Calculator 2014

• Student Loans Company

• Student Application Demo

• Whatuni Scholarships

Any questions?

Contact us:visitus@exeter.ac.uk01392 724043