Student Finance -the Facts Higher Education 2014/15

HE Student Finance – Key Points 2014/15 starts

You don’t have to pay anything up front!

Full time students

  • Tuition fees only  £7,500/year
  • Accommodation £4,704/year (which includes £1,000 for food)

You can apply for:

Tuition fee loan:

  • Paid direct to the College.
  • Pay back when earning more than £21,000.
  • Repayment liability starts the year after graduation.

Further information can be found on Gov.uk

Maintenance loan:

  • £5,555 maximum if you live away from home.
  • £4,418 maximum if you live at home.
  • Paid in to your bank account after registering on the course.
  • Pay back when earning more than £21,000.
  • Repayment liability starts the the year after graduation.

Maintenance Grant:

  • Full Maintenance Grant of £3,387 paid if your household income is £25,000 or under.
  • Partial grant paid if your household income is between £25,000 and £42,611.
  • Paid in to your bank account after registering on the course.

Special Support:

  • If you are eligible to recieve income related benefits you may be eligible for a Special Support Grant rather than a Maintenance Grant.  If you get the Special Support Grant you will not recieve the Maintenance Grant.
  • The Special Support Grant has no effect on the amount of Maintenance Loan you can borrow.  
  • Job Centre Plus and HMRC do not count the Special Support Grant when calcualting your entitlement to benefits or tax credit.

Bursaries 

Part time students

Tuition fees are calculated on a pro rata basis.  Typically, they range from £3,750 to £5,000.

Part time students can only apply for:

Tuition fee loan:

  • Paid direct to the College.
  • Pay back when earning more than £21,000.
  • Has to be paid back after 3 years if the course has not finished.

For more detailed information click on the appropriate link below

Part Time

Full Time

Mature

or visit Gov.uk

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