1. Deliver key finance/funding messages to young people
2. Consider the wider issues around student funding and budgeting
3. Understand some of the terminology
4. Consider the “What if scenarios”
5. Identify the help available so you can provide good IAG (Information, advice and guidance)

Finish
Start
Additional support
Student Funding offices
Access to learning fund
Emergency loans
Senior Tutors
Loans
TFL – Non means tested
ML – Means tested
Can you afford to go to University?
Grants
Government
Scholarships/bursaries
Disabled student allowances
Student parents

Finish
Enrichment
Can you afford not to think about going
University?
Opportunities
Earnings
Start

Tuition Fee Loan (TFL)
• Pay for tuition fees for 1 st
Degree
Non means-tested
Paid direct to institution
Apply each year
Repayable – £21k pa
Maintenance Loan (ML)
• Pay for associated living & learning costs (rent, food, bills, books, materials etc)
65% non-means tested
35% means tested household income
Repayable - £21k pa
Non-means tested – An award made without looking at household income
Means-tested – An award made following assessment of household income
Household income – The taxable income of the household in the 2013/14 tax year is used to determine how much financial support a student can receive. The figure is based on the financial information provided by a student’s sponsor (parent, husband, wife or civil partner).

Maintenance Grant (MG) 100% means-tested on household income
• Help with living & learning costs Payable if household income is below £42,620
Maximum available £3,387
Non-repayable

Income
Maintenance
Grant (MG)
£25,000 and below £3,387
£30,000 £2,441
£35,000
£40,000
£1,494
£547
£42,620
£42,875
£45,000
£50
£0
£0
£50,000
£55,000
£0
£0
£60,000 £0
£62,143 and above £0
Maintenance
Loan (ML)
£4,047
£4,520
£4,993
£5,467
£5,715
£5,740
£5,519
£4,998
£4,476
£3,955
£3,731
MG + ML
£7,434
£6,961
£6,487
£6,014
£5,765
£5,740
£5,519
£4,998
£4,476
£3,955
£3,731

Special Support Grant (SSG)
Means tested
Disabled Students’ Allowance (DSAs)
Non-means tested
Childcare Grant (CCG)
Means tested
Parents’ Learning Allowance (PLA)
Means tested
Adult Dependant’s Grant (ADG)
Means tested
Replaces the Maintenance Grant for certain students who, as full-time students can claim income-related benefits.
Available to students who have extra costs because of a disability, long-term health condition or specific learning difficult.
Available for full-time students who have dependent children under 15 (under 17 if the child has special educational needs) in registered or approved childcare.
Available to help with course related costs if a student has dependent children.
Available to help students who have an adult who depends on them financially.
Income related benefits – Income Support, income based Job Seekers Allowance,
Income related Employment and Support Allowance, Housing Benefit, Council Tax
Benefit, Pension Credit, Universal Credit

In April after you have completed or left your studies
When your are earning over £21,000 a year,
£1,750 a month or £403 a week
Loan balances are added together and repaid through your salary
(Gross)
Repay 9% of your income over the threshold
You can make payments to your loan at any time
If your income drops below the threshold your repayments stop
After 30 years, your loan will be written off, regardless of how much you have repaid.

• Interest accrues as soon as the instalments are paid
• Whilst you are studying the interest rate will be Retail Prices
Index (RPI) +3%. This is currently 6.3%.
Income under
£21,000
RPI only
Income between £21,000 and £41,000
Income above £41,000
RPI + 3%
RPI + Up to 3%

Head Teacher
Deputy Head
£100,000
£57,500
Assistant Head £42,800
Faculty Head/Curriculum
Lead
Qualified Teacher
£34,500
£25,000
Newly Qualified Teacher £21,800
Unqualified Teacher £18,000
£592.50 per month
£273.75 per month
£163.50 per month
£101.25 per month
£30.00 per month
£6.00 per month
Nil

Applications open in New Year
Apply online www.gov.uk/studentfinance
Online application form
You don’t need to have confirmed your place

Evidence of your identity
(passport, birth or adoption certificate)
Financial evidence of household income from prior tax year ending
April 2013
(parent/carers NI numbers)
Automatic ‘opt in’ to share information (helps with scholarship/bursary provision)
Sign the declaration form and send back to the SLC
Update your choice once confirmed if necessary
Institution confirms your attendance at enrolment
You will receive your maintenance loan and or grant to your bank account in 3 termly instalments.

• Our family income changes (loss of job, retirement, redundancy)
• I withdraw from university
• I want to have time out
• I want transfer university/course
• I’m a care leaver and have no-where to stay during vacation
Inform Student Finance England of a Change of
Circumstances (CoC) redundancy, withdrawal, suspend, repeat, change course – mid-year

• Student Funding Office for additional funding
– Access to Learning Fund (ALF) Fund of last resort
– Emergency Loans (pay-back, no interest)
• Students Union – independent advice on student related issues (some offer debt advice)
• Student Support Services
– Counselling
– Study support
– Senior Tutors (Some have access to small funds)
• Citizens Advice Bureau – independent advice
– Debt advice

Income
£25,000 and below
£30,000
£35,000
£40,000
£42,620
£42,875
£45,000
£50,000
£55,000
£60,000
£62,143 and above
Grant Loan
£0
£0
£0
£0
£3,387 £4,047
£2,441 £4,520
£1,494 £4,993
£547 £5,467
£50
£0
£0
£5,715
£5,740
£5,519
£4,998
£4,476
£3,955
£3,731
Grant & loan
£7,434
£6,961
£6,487
£6,014
£5,765
£5,740
£5,519
£4,998
£4,476
£3,955
£3,731
Weekly
(39 weeks)
£190
£178
£166
£154
£148
£147
£141
£128
£114
£101
£95

• Campus rent: £81-£160 a week
• Off campus rent: £80-£120 a week
(but may not include bills)
• Food: £40-£50 a week
• Clothes: £10-£15 a week
• Laundry: £5 a week
• Books £15-£20 a week
• Leisure/ Sport /Entertainment:
– £20-£25 a week
• Other: £5 a week

• Placement transport costs
• Accommodation deposits
• Material costs - lab coats
• Field trip costs
• Professional fees
• Printing, binding, photocopying
• Exams – if repeating

Rent
Food
Social
Books
Clothes
Misc
Telephone
Toiletries
Travel…
TV License
Launder…
Local…
Photoco…
Insurance
0 100 200 300 400 500 600 700

Term 3
Finish
Money pressures in an academic year.
Consider the impact of budgeting with only 3 pay days per year.
Term 2
Start
Term 1

Living cost loan
Grant/bursary
Parent/carers
Part-time work
=
Income
=
Budget