Post 18 Options Post 18 Options and Student and Student

FinanceFinance

cmoore619@c2kni.netcmoore619@c2kni.net

What are the options after What are the options after Year 14?Year 14?

• UniversityUniversity• Regional CollegesRegional Colleges• Vocational educationVocational education• School Leaver SchemesSchool Leaver Schemes• ApprenticeshipsApprenticeships• EmploymentEmployment• Gap YearGap Year• Part-time work/Part-time Part-time work/Part-time

studiesstudies

Regional CollegesRegional Colleges

Higher National Diplomas or Foundation Degrees are Higher National Diplomas or Foundation Degrees are either:either:

• A stepping stone into a degreeA stepping stone into a degree• A respected stand-alone qualificationA respected stand-alone qualification

Offered at Offered at Belfast Metropolitan CollegeBelfast Metropolitan College or or South Eastern South Eastern

Regional CollegeRegional College

Links with universities and industryLinks with universities and industry

Usually require 1 or 2 passes at A Level (or more for Usually require 1 or 2 passes at A Level (or more for

2013 entry…some specific course requirements)2013 entry…some specific course requirements)

Apply Apply DIRECTLYDIRECTLY to the college in the Jan – March period to the college in the Jan – March period

Interviews in May, June or AugustInterviews in May, June or August

Vocational Education or Vocational Education or ApprenticeshipsApprenticeships

• Vocational Education is specific to an Vocational Education is specific to an employment area, i.e. Diploma in Personal employment area, i.e. Diploma in Personal TrainingTraining

• Fulltime vocational education is freeFulltime vocational education is free• Apprenticeships at the age of 18 are the Apprenticeships at the age of 18 are the

same as those at 16same as those at 16• Young people find the employer Young people find the employer

themselves, then the training organisationthemselves, then the training organisation• Paid to work 4 days a week and study 1 Paid to work 4 days a week and study 1

day a weekday a week• 3 years to complete NVQ 2 and 33 years to complete NVQ 2 and 3

School Leaver Schemes• Advertised January – AugustAdvertised January – August• Usually Business Services or Usually Business Services or

FinanceFinance• RetailRetail• ICT or ComputingICT or Computing• Apply directlyApply directly• Very competitiveVery competitive• A great alternative to full-time A great alternative to full-time

universityuniversity

EmploymentEmployment• Not easy to find at the age of 18Not easy to find at the age of 18• Main employers:Main employers:

- Call centres- Call centres

- Banks- Banks

- Retail- Retail

- Insurance companies- Insurance companies

- Public services- Public services

- Hospitality and Tourism Industry- Hospitality and Tourism Industry

• Work experience and employability Work experience and employability skills are importantskills are important

Gap YearGap Year

• Can be beneficial but needs careful Can be beneficial but needs careful planningplanning

• Sometimes taken from necessity rather Sometimes taken from necessity rather than preference (A Level grades)than preference (A Level grades)

• Can defer a university place for a year if Can defer a university place for a year if already offeredalready offered

• Need a new UCAS application if left Need a new UCAS application if left without a university place in Augustwithout a university place in August

• Companies can help with travel or Companies can help with travel or volunteering abroad:volunteering abroad:

http://www.yearoutgroup.org/http://www.yearoutgroup.org/

Student Finance for 2014 Student Finance for 2014 EntryEntry• Universities in the NI charge students Universities in the NI charge students

tuition fees of up to tuition fees of up to £3575£3575 per year. per year.• Universities in England and Wales charge Universities in England and Wales charge

students tuition fees of up to students tuition fees of up to £9000£9000 per year per year• Scottish universities might charge students Scottish universities might charge students

up to up to £9000£9000 per year (some undecided, per year (some undecided, Scottish govt consultation)Scottish govt consultation)

• NI students NI students WILLWILL receive student loans for receive student loans for higher fees in the rest of the UKhigher fees in the rest of the UK

• NI students going to RoI universities NI students going to RoI universities do notdo not continue to have the €2500 registration fee continue to have the €2500 registration fee paid but students can apply for a student paid but students can apply for a student finance NI loanfinance NI loan

Applicants to Scottish higher education Applicants to Scottish higher education institutions with dual nationality - from institutions with dual nationality - from 2013 entry2013 entry

For 2013 entry onwards, any new applicant For 2013 entry onwards, any new applicant who is a who is a 'dual national''dual national' (a national of both (a national of both another EU member state and the UK) will another EU member state and the UK) will not not be entitled to the regulated rate of be entitled to the regulated rate of fees ('home fees') at a Scottish institution fees ('home fees') at a Scottish institution and a tuition fee award from the Student and a tuition fee award from the Student Awards Agency For Scotland (SAAS), Awards Agency For Scotland (SAAS), simply because of their 'other EU member simply because of their 'other EU member state' nationality. Rather, in order to state' nationality. Rather, in order to qualify for home fees and a tuition fee qualify for home fees and a tuition fee award as an EU student, the individual award as an EU student, the individual will have had to have will have had to have exercised their right exercised their right of residence in the EEA/Switzerlandof residence in the EEA/Switzerland or or have been resident in the non-UK EU have been resident in the non-UK EU member state of which they are also a member state of which they are also a national for national for at least three months.at least three months.

• Means-tested grants are available from Means-tested grants are available from the local Education and Library Board the local Education and Library Board (ELB). You do NOT have to pay these (ELB). You do NOT have to pay these back.back.

• Student loans are available from the Student loans are available from the Student Loans Company via your local Student Loans Company via your local ELB. ELB. These do not need to be These do not need to be immediately repaid and the rate of immediately repaid and the rate of interest is very low.interest is very low.

• Extra financial help could be available Extra financial help could be available from the university or college in the from the university or college in the form of special bursaries – you find this form of special bursaries – you find this out from the university in advance.out from the university in advance.

You can apply for a student grant and/or loan. This is done through ONE application form. PN1

Grants are divided into:• Maintenance Grants• Special Support Grants (SSG’s)A Maintenance Grant will depend on your

household income

Household Income Household Income 2012/132012/13

How Much?How Much?

£19,203 or less£19,203 or less Full Grant (£3,475)Full Grant (£3,475)

Between £19, 204 & Between £19, 204 & £41,065£41,065

Partial GrantPartial Grant

Over £41,065Over £41,065 No GrantNo Grant

What this means for What this means for studentsstudentson EMAon EMA

• £30 – you should be entitled to the £30 – you should be entitled to the full grantfull grant

• £20 – most will be entitled to the £20 – most will be entitled to the full grant, however some might get full grant, however some might get just a very little lessjust a very little less

• £10 – this is a guess, but most £10 – this is a guess, but most would probably get at least £2,000 would probably get at least £2,000 grantgrant

Student LoansStudent Loans

• Student Loans - Available to all Higher Education students, regardless of household income

Loans are divided into:

• Tuition Fee Loans• Maintenance Loans

• You may borrow the full amount of the fees you are charged.

Maintenance Loan

You may also take out a student loan for maintenance to help with living costs such as

accommodation, food, clothes, travel and so on. Interest on the loan is linked to inflation and you do not need to pay anything back until you are earning over £15,795 a year.

Loan RatesLoan Rates Maximum AvailableMaximum Available

Students living at homeStudents living at home £3750£3750

Students living away from Students living away from home:home:• In LondonIn London•ElsewhereElsewhere

£6780£6780

£4840£4840

Repayment of LoansRepayment of Loans

• Tuition Fee Loans and Maintenance Tuition Fee Loans and Maintenance Loans added togetherLoans added together

• Repayments start upon leaving course Repayments start upon leaving course

and earning over £16,365and earning over £16,365* * per yearper year• Repayments are collected through Repayments are collected through

PAYEPAYE• Repayment rate is Repayment rate is 9%9% of earnings of earnings

above £16,365 a year above £16,365 a year **• Loans are written off after 30 yearsLoans are written off after 30 years

Repayment Example Repayment Example • Student who has finished University Student who has finished University

and is earning and is earning £19,365£19,365 pa. pa.

• Will pay 9% of £3,000 in a year = Will pay 9% of £3,000 in a year = £270£270

• Monthly = £22.50Monthly = £22.50• Weekly = £5.19Weekly = £5.19• (Take home pay after Tax and NI = (Take home pay after Tax and NI =

£280 a week)£280 a week)

How does the system How does the system work?work?

http://www.studentfinanceni.co.uk• Parents’ section and Entitlement CalculatorParents’ section and Entitlement Calculator• Students can apply online or using the PN1 Students can apply online or using the PN1

from Easter 2014 from Easter 2014 • PN1 available in school, with help to PN1 available in school, with help to

completecomplete• Student Finance NI send a representative to Student Finance NI send a representative to

schools in Aprilschools in April

• Deadline isDeadline is mid April 2014mid April 2014• Proof of ID and of income will need to be Proof of ID and of income will need to be

postedposted

http://www.studentfinanceni.co.uk

Confused Dot Com?Confused Dot Com?

Money Saving Expert Martin Lewis explains new tuition fees, loans and

debt.

The 20 key facts on fees, loans & grants everyone should know

http://www.moneysavingexpert.com/family/student-loans-tuition-fees-

changes

DON’T FORGET YOUR UCAS PARENTS’

GUIDE!

http://www.parentadviser.co.uk/

Questions?Questions?