2015/16
www.gov.uk/studentfinance
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SESSION CONTENTS
• Section 1 – SFE, Eligibility & Student Finance 2015/16
• Section 2 – Applications & Information
• Section 3 – Student Loan Repayments
• Section 4 – SFE Resources
2015/16
SECTION 1
2015/16
SFE & GENERAL ELIGIBILITY
The Student Finance
Package
SFE – An Introduction
SECTION 3
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General
Eligibility
2015/16
SECTION 1
STUDENT FINANCE ENGLAND
AN INTRODUCTION
Student Finance England provide financial support on behalf of the UK
Government to students from England entering higher education in the UK
•
The two main costs full-time students will have while studying are
tuition fees and living costs
•
SFE make finance available to help students with both
•
Depending on their circumstances, course and where they study,
students may be able to get a range of financial help and support
•
This includes grants and bursaries (which don’t have to be paid back)
and loans (which do)
2015/16
SECTION 1
The Student Finance
Package
SFE - An Introduction
SECTION 3
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General
ELIGIBILITY
2015/16
SECTION 1
GENERAL ELIGIBILITY
RESIDENCY
Students need to meet certain residency criteria in order to be eligible for
financial support from SFE
•
Settled status – can live in the UK without any Home Office restriction
•
Ordinarily resident in England on the first day of the first academic
year of their course
•
Been living in the UK for the three years immediately prior to this
date
•
Tuition fee support only, without meeting residency requirements for
European Union students*
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2015/16
*EU students must have lived within the EEA for 3 years prior to
*Exceptions
certain
groupsyear
of students
the
first day exist
of theforfirst
academic
of the course
SECTION 1
GENERAL ELIGIBILITY
EXCEPTIONS
•
If the student, their spouse, civil partner, parent/step-parent are
recognised by the government as a refugee and lived in England
since this status was awarded
•
If the student, their spouse, civil partner, parent/step-parent, have
been granted Humanitarian Protection to stay in the UK by the
Home Office, resulting from a failed asylum application and meet the
standard residency requirements
•
EEA /Swiss migrant workers and the children of Swiss nationals and
Turkish workers may also qualify for tuition fee loans and additional
support if they meet the set employment or residency requirements
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If there is any doubt surrounding residency status/eligibility for
funding, students should call the SFE helpline - 0300 100 0607
SECTION 1
GENERAL ELIGIBILITY
COURSE AND UNIVERSITY/COLLEGE ELIGIBILITY
Courses must be of a certain type and be leading to a recognised higher
education qualification including:
•
•
•
•
•
First Degree (BSc, BA, BEd)
Foundation Degree (FdA, FdSc, FdEng)
Higher National Diploma or Higher National Certificate (HND/C)
Diploma of Higher Education (DipHE)
Postgraduate Certificate of Education (PGCE)
• The HE provider must be publicly funded (by UK Government) or
privately funded but running individual courses receiving public
funding as designated by HEFCE/BIS
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Further information on course designation and applications can
be found at - www.hefce.ac.uk/whatwedo/reg/desig
SECTION 1
GENERAL ELIGIBILITY
PREVIOUS STUDY
•
General rule – Tuition Fee Loan available for full length of the student’s
first undergraduate course, plus one additional year if needed
15/16
16/17
17/18
+
Extra
Year
= 4 years support
Example based on standard 3 year F/T course
•
Individual circumstances of the student (including any extenuating
circumstances) can affect eligibility
•
Students may still be eligible for Maintenance Loan support only if they
already have an equivalent or higher level qualification and study an
‘exception course’ leading to a professional qualification*
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2015/16
*Doctor, Dentist, Veterinary Surgeon, Architect, Social Worker,
ITT, Course attracting means tested Healthcare Bursary (NHS)
SECTION 1
2015/16
THE STUDENT FINANCE
PACKAGE*
*All figures used in this section are subject to final approval
of the 2015/16 student finance policy
TUITION FEE Loan
SECTION 3
Extra Support
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Maintenance
Support
2015/16
SECTION 1
TUITION FEES AND LOANS
AN OVERVIEW
•
Universities and colleges* can charge new full-time students up to
£9,000 per year in tuition fees
•
Eligible students won’t have to pay any tuition fees up front*
•
A Tuition Fee Loan is available to cover the fee charged by a university
or college**
•
A Tuition Fee Loan doesn’t depend on household income
•
SFE pay any Tuition Fee Loan directly to a university or college
•
The loan is repayable, but only when a student’s income is over £21,000
2015/16
*Publicly funded institutions
**Up to £6,000 for approved courses at private providers
SECTION 1
TUITION FEES AND LOANS
LIABILITY DATES
Tuition Fees will be paid to a HEI at three points in the academic year
Liability Date
% of Tuition Fee Loan
student will be liable for
First day of Term 1*
First day of Term 2
First day of Term 3
25%
25%
50%
*Two weeks after Term 1 start date for part-time courses
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Interest on the loan will be charged from the day payment is
made to the university/college, not from the liability date
SECTION 1
TUITION FEES AND LOANS
SANDWICH AND PLACEMENT YEARS
Policy for students starting their courses on or after 1st September 2012:
•
Students on sandwich placements will be charged 20% of the
maximum full-time tuition charge – Maximum charge of £1,800
•
Students on Erasmus placements will be charged 15% of the
maximum full-time tuition charge – Maximum charge of £1,350
•
Students on overseas placements will be charged 15% of the
maximum full time tuition charge – Maximum charge of £1,350
2015/16
Tuition Fee Loans
SECTION 3
Extra Support
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MAINTENANCE
Support
2015/16
SECTION 1
MAINTENANCE SUPPORT
AN OVERVIEW
•
Maintenance support is available to help students with their living costs
while in higher education
•
There are two main types of support, Maintenance Loan (repayable)
and Maintenance Grant (non-repayable)
•
All eligible students are entitled to receive some Maintenance support
•
The amount of Maintenance Loan a student gets depends on where
they live and study
•
Maintenance support is paid directly into a student’s bank account
each term
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2015/16
The maximum Maintenance Loan levels have been increased
by 3.34% for 2015/16
SECTION 1
MAINTENANCE LOAN
MAXIMUM LEVELS 2015/16
Parental Home
Live at home while they study
Up to
£4,565
Elsewhere
Live away from home & study outside London
London
Live away from home & study in London
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2015/16
Up to
£5,740
Up to
£8,009
If studying overseas as part of a UK course, Maintenance
Loan support is still available. Up to £6,820 for 2015/16
SECTION 1
MAINTENANCE LOAN
MAXIMUM LEVELS 2015/16
Full-Year
Student*
65% Non Means
Tested
35% Means
Tested
Maximum Loan
Parental Home
£2,967
£1,598
£4,565
Elsewhere
£3,731
£2,009
£5,740
London
£5,205
£2,804
£8,009
Overseas
£4,433
£2,387
£6,820
*Lower rates are available to final year students
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2015/16
Additional loan may be available for any extra weeks of study
if a course goes beyond 30 weeks in an academic year
SECTION 1
MAINTENANCE GRANT
SUPPORT AND MEANS TESTING
•
The Maintenance Grant doesn’t have to be repaid
•
How much grant a student gets depends on their household income
(100% means tested)
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2015/16
Household Income:
Up to £25,000
Full Grant:
£3,387
Household Income:
Up to £42,620
Partial Grant:
(Min £50)
Household income is the taxable earned and unearned income
of the parents/partner a student lives with most of the time
SECTION 1
MAINTENANCE SUPPORT
INDEPENDENT STUDENT STATUS
If over 25, have care of a young person, are married* or have supported
themselves financially for 3 years before starting their HE course, parental
income won’t be taken into account when assessing students entitlement
Students are considered independent if they: (Amongst other criteria)
•
Have care of a person under the age of 18
•
Are 25 or over on the first day of the academic year
•
Are permanently estranged from their parents
•
Are leaving the care of the local authority
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*If married or in a civil partnership, SFE will take into account
the income of the student’s husband, wife or civil partner
SECTION 1
SUPPORTING AN APPLICATION
HOUSEHOLD INCOME
If supporting an application for means tested student finance, SFE will
need details of a student’s parents, partner or other sponsors household
(taxable) income and National Insurance numbers
Taxable earned income includes*:
• Wages, salaries, tips, and other taxable employee pay
• Long-term disability benefits received prior to minimum retirement age
• Net earnings from self-employment
Taxable unearned income includes*:
• Interest from savings (only the annual summary is required)
• Benefits and Pensions
• Rent from property or a room
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2015/16
*More details/information can be found on the HMRC website:
http://www.hmrc.gov.uk/incometax/taxable-income.htm
SECTION 1
COMBINED MAINTENANCE SUPPORT
LIVING AWAY FROM HOME OUTSIDE LONDON
Household
Income
Maintenance
Grant
Maintenance
Loan
Total
£25,000 & under
£3,387
£4,047
£7,434
£30,000
£2,441
£4,520
£6,961
£35,000
£1,494
£4,993
£6,487
£40,000
£547
£5,467
£6,014
£42,620
£50
£5,715
£5,765
£42,875
£0
£5,740
£5,740
£50,000
£0
£4,998
£4,998
£62,143 & over
£0
£3,731
£3,731
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2015/16
The calculator found on gov.uk/studentfinance can provide
students with an estimate of their student finance entitlement
Tuition Fee Loans
SECTION 3
EXTRA Support
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Maintenance
Support
2015/16
SECTION 1
EXTRA SUPPORT
BURSARIES AND SCHOLARSHIPS
Many universities and colleges offer financial support to their students
through bursaries and scholarships:
Bursaries:
• Linked to personal circumstances and often, household income
• Awards can include discounted tuition fees, accommodation or cash
Scholarships:
• Linked to academic results or ability in an area such as sport or music
• Can be subject specific and are usually limited in numbers
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2015/16
Students should check university/college websites and ask at
open days to see what they offer and how/when apply
SECTION 1
EXTRA SUPPORT
EXTRA HELP MAY ALSO BE AVAILABLE IF STUDENTS….
•
Have children or adult dependent on them
•
Have a disability, long-term health condition, mental-health condition
or specific learning difficulty
•
Study overseas as part of their UK based course
•
Study an NHS or Social Work course
NHS courses include:
nursing, midwifery, physiotherapy, speech and language therapy,
dietetics, radiography , the later stages of medicine and dentistry
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2015/16
For more information on eligibility and applications for NHS
support go to: www.nhsbsa.nhs.uk/students
SECTION 1
EXTRA SUPPORT
DISABLED STUDENTS’ ALLOWANCES
Disabled Students’ Allowances provide help towards the additional costs
that a student may face as result of their disability, long-term health
condition, mental-health condition or specific learning difficulty:
DSAs Support:
• Is available in addition to the standard student finance package,
•
Does not have to be repaid,
•
Is not affected by household income,
•
Looks at the specific needs of the individual in relation to their
circumstances and studies
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Students should apply for their DSAs’ as soon as possible, the
process can be triggered from the main online application form
SECTION 1
EXTRA SUPPORT
DISABLED STUDENTS’ ALLOWANCES
Allowance
Part-Time
Maximum
Support
Full-Time
Maximum
Support
Non-medical personal
helper
£15,543
£20,725
Per academic
year
Specialist equipment
£5,212
£5,212
Duration of
Course
Other disability-related
expenditure
£1,305
£1,741
Per academic
year
Disability related travel
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No Limit – Reasonable spending can
be claimed
For both full-time and part-time postgraduate students there is
a single allowance of up to £10,362 a year
SECTION 1
EXTRA SUPPORT
STUDENTS WITH DEPENDANTS’
Childcare Grant:
Based on 85% of actual registered/approved childcare costs up to
maximum of: £155.24 per week for one child
£266.15 per week for two or more children
Parents’ Learning Allowance:
Help with course-related costs for students with dependent children
Amount received will be between £50 and £1,573
Adult Dependants’ Grant:
Normally for the student’s partner. Can be for another adult who is
financially dependent on the student where the adult’s net income is not
more than £3,796 p.a. Maximum grant available: £2,757
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2015/16
The maximum Dependants Grant levels have been increased
by 3.34% for 2015/16
SECTION 2
2015/16
2015/16
APPLICATIONS & INFORMATION
Students APPLY on time
They get PAID!
We ASSESS their
application
2015/16
2015/16
SECTION 2
STUDENT FINANCE APPLICATIONS
KEY MESSAGE – APPLY EARLY
Each year thousands of students apply late for their finance and have no
way to pay for their course or accommodation, some even have to drop out!
Please encourage the students you work with to apply on time!
•
It will take at least six weeks to process an application so apply early
•
The easiest way to apply is online at gov.uk/studentfinance*
•
Students don’t need a confirmed place at university or college to apply
•
Apply with their first choice, they can change details later if necessary
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2015/16
*Students wishing to study at alternative providers may need to
wait until HEFCE approve the course designation before applying
SECTION 2
GOV.UK
NEW LOOK 2015/16 CAMPAIGN PAGE
2015/16
www.gov.uk/studentfinancesteps
SECTION 2
STUDENT FINANCE APPLICATIONS
GET IT RIGHT FIRST TIME – STUDENTS SHOULD…
•
Make a note of their account log-in details and keep them safe
•
Agree to share information from their application, this helps apply
for many bursaries and some scholarships
•
Make sure any evidence and information needed to support their
application is supplied first time (students and parent/partners)
•
Submit an application even if there’s a delay in getting sponsor income
details so some funding* will be available when they start their course
•
Sign and return their online declaration form as soon as possible so as
not to delay payments
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2015/16
*Tuition Fee Loan and 65% of the maximum Maintenance Loan
which are non means tested
SECTION 2
STUDENT FINANCE APPLICATIONS
COMPLETING AN APPLICATION
Before starting an application students should have the following to hand:
•
•
•
Passport - SFE can check identity using valid UK passport details
University and course details
Bank account details and National Insurance number
The easiest way for parents, partners or other sponsor to support an
application is online through GOV.UK, providing information including:
•
•
•
National Insurance number(s)
Household income information (based on prior tax year*)
Details of other child dependants
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*If the household income drops by 15% or more in the current
tax year, SFE can reassess an application
SECTION 2
SFE ONLINE
FOR MORE INFORMATION AND RESOURCES
www.thestudentroom.co.uk/studentfinance
www.facebook.com/SFEngland
www.twitter.com/sf_england
www.youtube.com/SFEFILM
2015/16
SECTION 3
2015/16
STUDENT LOAN REPAYMENTS
The FACTS
SECTION 3
The INTEREST
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The FIGURES
2015/16
SECTION 3
STUDENT LOAN REPAYMENTS
AN OVERVIEW
•
Students won’t make repayments until their income is over
£21,000 a year gross (before tax)
•
If they study a full-time course, they will be due to start repaying in
the April after graduating from/leaving higher education
•
They’ll repay 9% of their income over £21,000 and if employed,
deductions will be made from their pay through the HMRC tax system*
•
If their income falls to £21,000 or below their repayments will stop
•
Any outstanding loan balance will be written off 30 years after entering
repayment
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*If they move/work overseas, repayments will be 9% of any
earnings over the threshold for the country they are living in
SECTION 3
STUDENT LOAN REPAYMENTS
THE FIGURES
Income each year
before tax
9% will be deducted
from
Monthly Repayment
£21,000
£0
£0
£30,000
£9,000
£67
£40,000
£19,000
£142
£50,000
£29,000
£217
£60,000
£39,000
£292
Income
£25,000
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2015/16
9% Deducted
£4,000
from?
(Approx)
Monthly
£30
Repayment?
Early repayments can be made at any time (with no penalty) if
a student wants to reduce their loan balance early
SECTION 3
STUDENT LOAN REPAYMENTS
THE INTEREST
Interest levels will depend on a students income and circumstances:
During study until
entering repayment
Income:
Under £21,000
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Interest Rate:
Retail Price Index +3%
Interest rate is:
Rate:
Set atInterest
RPI Only
RPI Only
Income:
Interest Rate:
£21,000 to £41,000
RPI + up to 3%
Income:
Interest Rate:
Over £41,000
RPI +3%
The interest rate is updated once a year using the RPI figure
from March which is carried forward and applied in September
SECTION 3
STUDENT LOAN REPAYMENTS
DEDICATED WEBSITE
www.studentloanrepayment.co.uk
2015/16
SECTION 4
2015/16
SFE RESOURCES
Student Finance
ADVISERS
Practitioners WEBSITE
SECTION 3
IAG MATERIALS
2015/16
SECTION 4
PRACTITIONER RESOURCES
DEDICATED WEBSITE
www.practitioners.slc.co.uk
2015/16
SECTION 4
PRACTITIONER RESOURCES
IAG MATERIALS
Access and download our wide range
of IAG resources including:
•
Suite of Factsheets
•
Series of Quick Guides
•
PowerPoint Presentations
•
Videos and Marketing Materials
All sorted by audience type to
make it easy to find what you need
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New resources will be added during the year, as the information
students need changes. Register/check back for updates
SECTION 4
PRACTITIONER RESOURCES
QUICK GUIDES
Our quick guides highlight key information
students and parents need to know
Currently available:
•
Student Finance Explained
•
Dependants’ Grants
•
Student Finance Explained for Parents
The quick guides are available to download
or order from the practitioner website
2015/16
SECTION 4
PRACTITIONER RESOURCES
FACTSHEETS
Our factsheets are designed to help you
explain student finance, covering key
subjects including:
•
Student finance and eligibility
•
Students with dependants
•
Repayments
•
Myths, facts and FAQ’s for parents
2015/16
SECTION 4
PRACTITIONER RESOURCES
APPLICATION DEMO
Training tool for practitioners, allowing you to view all the screens
students and sponsors see in an online application :
•
Applications for new and returning
students
•
Parent/partner applications
•
Change of circumstances
•
Regular updates and explanation
of ‘Hot Topics’
2015/16
SECTION 4
PRACTITIONER RESOURCES
DEDICATED REGIONAL SUPPORT
Student Finance Advisers:
Our team of dedicated regional advisers work closely with key partners
across England to deliver a range of Matrix accredited services including:
•
•
Staff development through bespoke training,
Advice and support with SFE resources, policy and processes
If we can support you and your colleagues with any area of student finance
IAG delivery, please do get in touch:
Contact details for your regional adviser can be found at:
www.practitioners.slc.co.uk/regional-support
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2015/16
Practitioner Helpline: For detailed/complex regulatory advice
and particularly complex assessment enquiries – 0300 100 0618