Post 18 Options and Student Finance

Post 18 Options and
Student Finance
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What are the options after Year 14?
Regional Colleges
Vocational education
School Leaver Schemes
Gap Year
Part-time work/Part-time studies
Regional Colleges
Higher National Diplomas or Foundation Degrees are either:
• A stepping stone into a degree
• A respected stand-alone qualification
Offered at Belfast Metropolitan College or South Eastern Regional
Links with universities and industry
Usually require 1 or 2 passes at A Level (or more for 2013 entry…some
specific course requirements)
Apply DIRECTLY to the college in the Jan – March period
Interviews in May, June or August
Vocational Education or
• Vocational Education is specific to an employment
area, i.e. Diploma in Personal Training
• Fulltime vocational education is free
• Apprenticeships at the age of 18 are the same as
those at 16
• Young people find the employer themselves, then
the training organisation
• Paid to work 4 days a week and study 1 day a week
• 3 years to complete NVQ 2 and 3
School Leaver Schemes
Advertised January – August
Usually Business Services or Finance
ICT or Computing
Apply directly
Very competitive
A great alternative to full-time university
• Not easy to find at the age of 18
• Main employers:
- Call centres
- Banks
- Retail
- Insurance companies
- Public services
- Hospitality and Tourism Industry
• Work experience and employability skills are
Gap Year
• Can be beneficial but needs careful planning
• Sometimes taken from necessity rather than
preference (A Level grades)
• Can defer a university place for a year if already
• Need a new UCAS application if left without a
university place in August
• Companies can help with travel or volunteering
Student Finance for 2014 Entry
• Universities in the NI charge students tuition fees of
up to £3575 per year.
• Universities in England and Wales charge students
tuition fees of up to £9000 per year
• Scottish universities might charge students up to
£9000 per year (some undecided, Scottish govt
• NI students WILL receive student loans for higher
fees in the rest of the UK
• NI students going to RoI universities do not continue
to have the €2500 registration fee paid but students
can apply for a student finance NI loan
Applicants to Scottish higher education institutions
with dual nationality - from 2013 entry
For 2013 entry onwards, any new applicant who is a
'dual national' (a national of both another EU
member state and the UK) will not be entitled to
the regulated rate of fees ('home fees') at a Scottish
institution and a tuition fee award from the
Student Awards Agency For Scotland (SAAS),
simply because of their 'other EU member state'
nationality. Rather, in order to qualify for home
fees and a tuition fee award as an EU student, the
individual will have had to have exercised their
right of residence in the EEA/Switzerland or have
been resident in the non-UK EU member state of
which they are also a national for at least three
• Means-tested grants are available from the
local Education and Library Board (ELB).
You do NOT have to pay these back.
• Student loans are available from the Student
Loans Company via your local ELB. These
do not need to be immediately repaid and
the rate of interest is very low.
• Extra financial help could be available from
the university or college in the form of
special bursaries – you find this out from the
university in advance.
You can apply for a student grant and/or loan. This is done
through ONE application form. PN1
Grants are divided into:
• Maintenance Grants
• Special Support Grants (SSG’s)
A Maintenance Grant will depend on your household income
Household Income 2012/13
How Much?
£19,203 or less
Full Grant (£3,475)
Between £19, 204 & £41,065
Partial Grant
Over £41,065
No Grant
What this means for students
on EMA
• £30 – you should be entitled to the full grant
• £20 – most will be entitled to the full grant,
however some might get just a very little less
• £10 – this is a guess, but most would
probably get at least £2,000 grant
Student Loans
• Student Loans - Available to all Higher Education
students, regardless of household income
Loans are divided into:
• Tuition Fee Loans
• Maintenance Loans
• You may borrow the full amount of the fees you are
Maintenance Loan
You may also take out a student loan for maintenance to help
with living costs such as accommodation, food, clothes, travel
and so on. Interest on the loan is linked to inflation
and you do not need to pay anything back until you
are earning over £15,795 a year.
Loan Rates
Maximum Available
Students living at home
Students living away from home:
• In London
Repayment of Loans
• Tuition Fee Loans and Maintenance Loans
added together
• Repayments start upon leaving course and
earning over £16,365* per year
• Repayments are collected through PAYE
• Repayment rate is 9% of earnings above
£16,365 a year *
• Loans are written off after 30 years
Repayment Example
• Student who has finished University and is
earning £19,365 pa.
• Will pay 9% of £3,000 in a year = £270
• Monthly = £22.50
• Weekly = £5.19
• (Take home pay after Tax and NI = £280 a
How does the system work?
• Parents’ section and Entitlement Calculator
• Students can apply online or using the PN1 from
Easter 2014
• PN1 available in school, with help to complete
• Student Finance NI send a representative to
schools in April
• Deadline is mid April 2014
• Proof of ID and of income will need to be posted
Confused Dot Com?
Money Saving Expert Martin Lewis explains
new tuition fees, loans and debt.
The 20 key facts on fees, loans & grants
everyone should know
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