Understanding Student Finance and Funding Options for University Education
Explore the essential information on student finance in the UK, including resources for financial support, eligibility criteria, funding sources such as maintenance loans and grants, and maintenance support rates for different living situations. Gain insights into managing tuition fees, living costs, government support, and additional financial aid available to students pursuing higher education.
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MONEY & UNIVERSITY / COLLEGE WHAT YOU REALLY NEED TO KNOW
RESOURCES WWW.UCAS.COM/SFE WWW.THESTUDENTROOM.CO.UK/STUDENTFINANCE HTTPS://STUDENTFINANCE.CAMPAIGN.GOV.UK/ WWW.GOV.UK/STUDENT-FINANCE WWW.MONEYSAVINGEXPERT.COM/STUDENTS FIRST CHOICE UNIVERSITY FINANCE PAGE
STUDENT FINANCE ENGLAND STUDENT FINANCE ENGLAND (SFE) PROVIDES SUPPORT TO ELIGIBLE STUDENTS ENTERING HIGHER EDUCATION IN THE UK: THE TWO MAIN COSTS INCURRED WHILE STUDYING ARE TUITION FEES & LIVING COSTS. THERE S STUDENT FINANCE AVAILABLE TO HELP WITH BOTH. DEPENDING ON INDIVIDUAL CIRCUMSTANCES, POTENTIALLY THERE IS ALSO EXTRA FINANCIAL HELP.
STUDENT FINANCE ENGLAND STUDENT FINANCE ENGLAND (SFE) PROVIDES SUPPORT TO ELIGIBLE STUDENTS ENTERING HIGHER EDUCATION IN THE UK: SETTLED STATUS LIVING IN THE UK FREELY, WITHOUT HOME OFFICE RESTRICTION. ORDINARILY RESIDENT IN ENGLAND & BEEN LIVING IN THE UK FOR 3 YEARS PRIOR TO 1STDAY OF 1STACADEMIC YEAR OF COURSE. EU CITIZENS RESIDENT IN THE UK FOR 5 YEARS PRIOR TO COURSE START. IF IN DOUBT CALL SFE ON 0300 100 0607
STANDARD SOURCES OF FUNDING DISABLED STUDENT ALLOWANCE (DSA) IS A GRANT TO HELP PAY FOR EXTRA COSTS FOR A STUDENT WITH A DISABILITY, INCLUDING A LONG-TERM HEALTH CONDITION, MENTAL-HEALTH CONDITION OR SPECIFIC LEARNING DIFFICULTY ADULT DEPENDANT SUPPORT IS OPEN TO ANY STUDENT WITH AN ADULT WHO IS RELIANT ON THEM. NHS BURSARIES FOR FINAL YEAR/S OF DENTISTRY AND MEDICINE ONLY. ALLIED HEALTH PROFESSIONS ON MAIN SYSTEM STUDENT EARNINGS ARE TAX FREE UP TO A LIMIT OF APPROX. 12,500 PRIZES, BURSARIES AND SCHOLARSHIPS ARE TAX FREE.
STUDENT FINANCE MAINTENANCE LOANS TUITION FEE LOANS OPEN TO UK STUDENTS OPEN TO ALL ELIGIBLE STUDENTS INCLUDING EU STUDENTS. AMOUNT DEPENDS ON PARENTAL INCOME, HOME ADDRESS & WHERE YOU WANT TO STUDY. FEE 9,250 PAID DIRECTLY TO UNIVERSITY OR COLLEGE BY SFE MONEY PAID INTO YOUR BANK ACCOUNT EACH TERM. LOAN REPAYABLE ONCE INCOME IS OVER 25,725 A YEAR. REPAYABLE ONCE INCOME OVER 25,725 PA.
MAINTENANCE SUPPORT (2020/1) Parental Home Rate: Live in parental home during studies 7,747 9,203 Elsewhere Rate: Away from home, study outside London London Rate: Away from home, study in London 12,010 Overseas Rate: Study overseas as part of UK course 10,539
HOW TO APPLY FOR STUDENT FINANCE 1 APPLY ONLINE WWW.GOV.UK/STUDENT-FINANCE FROM 24 FEBRUARY ONWARDS. STUDENT COMPLETES THEIR PART FIRST. TO DO THIS YOU WILL NEED TO HAND: PASSPORT OR BIRTH CERTIFICATE UNIVERSITY & COURSE DETAILS NATIONAL INSURANCE DETAILS BANK DETAILS PARENTS EMAIL DETAILS.
HOW TO APPLY FOR STUDENT FINANCE 2 SFE SENDS THE PARENT AN EMAIL WITH A LINK TO CREATE AN ACCOUNT. PARENT COMPLETES APPLICATION INCLUDING INCOME DETAILS, NI NUMBER. THESE ARE CHECKED WITH HMRC. SFE ASSESS HOW MUCH STUDENT FINANCE THE STUDENT CAN GET & TELLS THE STUDENT. ONCE THE STUDENT HAS STARTED THEIR COURSE, SFE PAY: THE MAINTENANCE LOAN INTO THE STUDENT S BANK ACCOUNT THE TUITION FEE LOAN DIRECTLY TO THEIR UNIVERSITY OR COLLEGE.
STUDENT LOAN REPAYMENTS INTEREST RATE IS BASED ON RPI AND UPDATED ONCE A YEAR. STUDENTS WILL NOT MAKE ANY REPAYMENTS UNTIL : THE APRIL AFTER GRADUATION AND THEIR INCOME IS MORE THAN 25,725 A YEAR. RATE IS 9% OF GROSS INCOME OVER 25,725. IF IN EMPLOYMENT, MONEY IS COLLECTED THROUGH THE PAYE SYSTEM OR DIRECTLY BY HMRC. IF EARNINGS DROP REPAYMENTS STOP ANY OUTSTANDING BALANCE IS CANCELLED 30 YEARS AFTER STARTING REPAYMENT PROCESS.
STUDENT LOAN REPAYMENTS Income each year before tax 25,725 27,000 29,500 31,000 33,000 9% will be deducted from 0 1,275 3,775 5,275 7,275 Monthly repayment (Approx) 0 9 28 39 54
JEWISH COMMUNITY FUNDING STUART YOUNG FOUNDATION- INFO@STUARTYOUNGFOUNDATION.ORG.UK ACADEMIC EXCELLENCE AND FINANCIAL NEED 3 YEARS OF FUNDING PAPER FORM FINNART- WWW.FINNART.ORG/HOWTOAPPLY.HTML FINANCIAL NEED FUNDING FOR DURATION OF COURSE ONLINE APPLICATION/DOWNLOADABLE FORM UJS- WWW.UJS.ORG.UK/AJA_UJS_STUDENT_WELFARE_FUND FINANCIAL NEED ANNUAL REAPPLICATION ONLINE APPLICATION
