Student Finance For 08/09

[DJ B4VVY]

(Can someone sticky this please? Thanks!)

I'll try and keep this short (fat chance of that) otherwise y'all will get bored!

For people starting their Higher Education courses in the 08/09 academic year, that means this September coming, here is a bit of information for you guys.

When you study at University/College, there's two main types of expenses you will come across:

• Tuition Fees - What the University will charge you for your course
• Living costs - Rent, Food, Books, Socialising etc

Tuition Fees

Universities and Colleges will be able to charge new students up to £3145 a year for your course.

Fees will vary between different institutions and different courses.

The Tuition Fee Loan is not income assessed.

If you take out a Tuition Fee Loan, it will go straight to the institution so you don't have to worry about it.

You won't have to start paying the loan back until you finish your course and when you start earning over £15k.

If you leave your course before the 1st of December, you won't be able to get the Tuition Fee Loan and your institution may still charge you the full years fees.

Living Costs

These are the kinds of help you could get for living costs/other expenses:

• Maintenance Grant
• Maintenance Loan
• Targeted Help
• Help from University/College
  

Maintenance Grant

You can get up to £2835 a year depending on household income.

It's paid in 3 installments at the start of each term.

It doesn't have to be paid back.

Household income of less than £25k will receive the full £2835.

Household income of between £25k - £60005 will receive partial grant.

Household income of above £60005 will receive no grant.

Maintenance Loan

Helps with living and study costs like rent, bills, food, books and socialising.

There are two types of Maintenance Loan:

• Non-Income Assessed (Basic) Loan
• Income-Assessed (Full) Loan

Non-Income Assessed (Basic) Loan

This is not dependant on household income but is only 75% of the full loan.

Income Assessed (Full) Loan

The extra 25% is income assessed.

The maximum loan you can get if you are studying in London and living away from your parents' home is £6475.

The maximum loan you can get if you are studying outside London and living away from your parents' home is £4625.

The maximum loan you can get if you are living with your parents is £3580.

Targeted Help

Extra help (which may not apply to most of you) includes:

• Parents' Learning Allowance
• Child Care Grant
• Adult Dependants' Grant
• Disabled Students' Allowance

These are all non-repayable.

Help from University/College

• Bursaries - If the institution is charging full fees (£3145) and you're entitled to the full Maintenance Grant, they must provide a minimum bursary of £310.
• Access to Learning Fund - Extra help from institutions
  

Instead of a bursary, some institutions may help you in a non-financial way like reducing accomodation costs.

The Access to Learning Fund is only emergency help if you're still struggling with finance.

There is alot more but I won't bore you with all that

If you want to ask me anything, just post here or PM me or message me on MSN

[Guji-Ji]

So that minimum £310 bursary pays the £300 or so quid that was left from the grant?

Clever..

Thanks..

[DJ B4VVY]

Yea they have to do that coz those people are from a low income household, but you'll have to check with your uni coz some might give you some kind of other offer like reducing accommodation etc

[Bliss*]

where do we get these forms from? we have to apply each year dont we..?

[DJ B4VVY]

Yea apply each year to your local LEA. You should be able to find it from:

http://www.studentfinancedirect.co.uk

[Guji-Ji]

The PN1 form is 28 pages...

[Bliss*]

Thankooo Bavvvv... You izzah Starrrr

[DJ B4VVY]

Lol I know it is!

Just imagine what a pain it is for us as well!

[IRFAN06]

whens the last installment gonna be paid to us, for this year
i fink its next few days or summat aint it

[DJ B4VVY]

It should have been the 31st of March for most students, but I'd check with your LEA coz sometimes it ain't that general date.

[IRFAN06]

aparently its the 7th April.