STUDENT FINANCE 201516 A PRACTITIONERS INTRODUCTION 201516 www

STUDENT FINANCE 2015/16 A PRACTITIONERS INTRODUCTION 2015/16 www. gov. uk/studentfinance

i SESSION CONTENTS • Section 1 – The Student Finance Package • Section 2 – Additional Support • Section 3 – Student Loan Repayment • Section 4 – Application Information • Section 5 – Resources 2015/16

SECTION 1 2015/16 THE STUDENT FINANCE PACKAGE 2015/16

1 THE STUDENT FINANCE PACKAGE SUPPORT AVAILABLE TO STUDENTS INCLUDES: TUITION FEE LOAN MAINTENANCE SUPPORT BURSARIES & SCHOLARSHIPS ADDITIONAL SUPPORT 2015/16 All figures used in this section are subject to final parliamentary approval of 2015/16 student finance policy

SECTION 1 2015/16 TUITION FEES & LOANS

1 TUITION FEES & LOANS OVERVIEW • The maximum tuition charges for full-time courses will be maintained at £ 6, 000, or £ 9, 000* • Maximum Tuition Fee Loans for full-time courses will also be maintained at £ 9, 000 (or £ 6, 000 for specifically designated courses at private institutions) • The Tuition Fee Loan doesn’t depend on household income • SLC pay any Tuition Fee Loan requested directly to a university or college so eligible students shouldn't have to pay any fees upfront 2015/16 *Publicly funded institutions with an approved Offa Access Agreement - www. offa. org. uk/access-agreements/

1 TUITION FEES & LOANS SANDWICH & PLACEMENT YEARS Policy for students starting their courses on or after 1 st 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

SECTION 1 2015/16 PART-TIME STUDENTS

1 TUITION FEES & LOANS OVERVIEW • Publicly-funded universities or colleges can charge up to a maximum tuition fee level of £ 6, 750 a year for part-time courses* • New, eligible part-time students can apply for a non means tested loan to cover the cost of their tuition at these institutions • The actual amount charged will depend on the intensity of a course • Course intensity is how long it takes to complete a part-time course compared to the equivalent full-time course • Students starting designated P/T courses provided wholly by a private university or college can apply for up to £ 4, 500 in Tuition Fee Loan 2015/16 *With an Offa approved Access Agreement

1 OTHER SUPPORT FOR PART-TIME STUDENTS • Part-time students will not be entitled to a loan or grant towards living costs but can access Disabled Students’ Allowances (DSAs) • Bursaries or scholarships offered by universities and colleges may provide additional support based on factors such as income or academic achievement • Continuing students whose course began before September 2012 can still apply for a means-tested fee and course grant • Part-time study & benefits Part-time students can usually still claim benefits that depend on household income (means-tested benefits) such as; Universal Credit, Income-based Jobseekers Allowance or Housing Benefit if unemployed 2015/16 Students should contact their Jobcentre Plus or Department for Work and Pensions for an on-going benefit eligibility assessment

SECTION 1 2015/16 MAINTENANCE SUPPORT

1 MAINTENANCE SUPPORT OVERVIEW • Maintenance support is available to help with living costs a student will face while in higher education • Two main types of support are available, Maintenance Loan and Maintenance Grant • The Maintenance Loan is repayable and all eligible students are entitled to receive some funding • The loan level available depends on where a student lives and studies • Maximum Maintenance Loan levels for 2015/16 have been increased by 3. 34% 2015/16

1 MAINTENANCE LOAN EXAMPLE 2015/16 MAXIMUM RATES Up to £ 4, 565 Up to £ 5, 740 Up to £ 8, 009 Up to £ 6, 820 2015/16

1 MAINTENANCE LOAN MEANS TESTING 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 2015/16 Additional loan is available for each extra week of study for students attending their course beyond 30 weeks

1 RT MAINTENANCE GRANT PPO U S E C N A N E T MAIN OVERVIEW • The maximum Maintenance Grant will be maintained at £ 3, 387 • How much grant a student can get depends on their household income (100% means tested) Existing household income thresholds maintained for 2015/2016: 2015/16 Household Income: Up to £ 25, 000 Full Grant of £ 3, 387 Household Income: Up to £ 42, 620 Partial Grant The maximum Special Support Grant, which is paid to certain students eligible for benefits will also be maintained at £ 3, 387

1 GENERAL ELIGIBILITY INDEPENDENT STUDENTS What does being an independent student mean? • Student Finance England will not take any parental income into account when assessing student entitlement for support • If married or in a civil partnership, SFE will take into account the income of the students husband, wife or civil partner A student is considered independent if: • They have care of a person under the age of 18 on the first day of the academic year for which they are applying for support • They’re 25 or over on the first day of the academic year for which they are applying for support 2015/16

1 GENERAL ELIGIBILITY INDEPENDENT STUDENTS - CONTINUED A student is considered independent if: • They’ve been married or formed a civil partnership before the start of the academic year even if that marriage or civil partnership has ended • They have no living parents • They’ve supported themselves for at least three years before the start of their course • They’ve not communicated with their parents for one year before the beginning of the academic year for which they are applying for support, or can demonstrate a permanent estrangement from their parents 2015/16

1 GENERAL ELIGIBILITY INDEPENDENT STUDENTS - CONTINUED A student is considered independent if: • Their parents cannot be traced or it is not practical or possible to contact them • Their parents live outside of the EC and an income assessment would put them in jeopardy, or if not reasonably practicable for them to send funds to the UK if a contribution were assessed • Subject to certain exceptions, they were looked after by a local authority throughout any three month period ending on or after the date on which they turned 16 and before the first day of the first academic year of their course 2015/16

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 £ 5, 715 £ 5, 765 £ 42, 875 £ 0 £ 5, 740 £ 50, 000 £ 4, 998 £ 62, 143 & over £ 0 £ 3, 731 2015/16 Students can get a quick estimate of their student finance entitlement using the calculator on gov. uk/studentfinance

SECTION 1 2015/16 BURSARIES & SCHOLARSHIPS

1 RSHIPS A BURSARIES & SCHOLARSHIPS L O H C S & SARIES BUR OVERVIEW 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 fee reductions, discounted accommodation or cash Scholarships: • Often based on academic results or ability in sport, art or music etc. . • Can be subject specific and are limited in numbers 2015/16 Students should check university websites early and ask at open days for information on support available and how to apply

1 BURSARIES & SCHOLARSHIPS STUDENTS LEAVING CARE – BUTTLE TRUST www. buttleuk. org/pages/quality-mark-for-care-leavers. html 2015/16

SECTION 1 2015/16 ADDITIONAL SUPPORT

2 ADDITIONAL SUPPORT OVERVIEW Extra money or support may be available to students if they: • Have children or adults dependent on them • Have a disability, long-term health condition, mental-health condition or specific learning difficulty • Are studying an NHS or Social Work course • NHS courses include: Nursing, midwifery, physiotherapy, chiropody, dietetics, radiography, occupational therapy, the later stages of medicine and dentistry 2015/16 For further information and applications students should visit: www. nhsbsa. nhs. uk/students

2 ADDITIONAL 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 2015/16 Students need to be aware the DSA application process can take up to 10 weeks!

2 ADDITIONAL SUPPORT DISABLED STUDENTS’ ALLOWANCES Maximum DSA rates maintained for 2015/16: Allowance Part-Time Maximum Support Full-Time Maximum Support Frequency of Payment Non-medical personal helper £ 15, 543 £ 20, 725 Annual Specialist equipment £ 5, 212 Duration of Course Other disability-related expenditure £ 1, 305 £ 1, 741 Annual Disability related travel No Limit – Reasonable spending can be claimed 2015/16 For both full-time and part-time postgraduate students there is a single allowance of up to £ 10, 362 a year

2 ADDITIONAL 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 2015/16 The maximum Dependants Grant levels will be increased by 3. 34% for 2015/16

2 STUDENT FINANCE POLICY POINTS OF INTEREST • Proposals submitted for Sharia law compliant finance system • Student Finance Wales service and launch of part-time applications • Changes to DSA’s (funding will no longer be provided for) • Standard specification computers, software, associated peripherals and associated warranties/insurance • Non-specialist non-medical help (NMH) support or general consumable items 2015/16 Updates and student support information notices can be found at: www. practitioners. slc. co. uk/policy-information. aspx

SECTION 3 2015/16 STUDENT LOAN REPAYMENTS

3 STUDENT LOAN REPAYMENTS AN OVERVIEW • Students won’t make repayment contributions until their income is over £ 21, 000 a year (£ 1, 750 pm) gross • Full-time students will begin to repay in the April after graduating from/leaving their HE course (from April 2016 at the earliest) • Part-time students enter repayment in the April 4 years after they started their course, or the April after they leave their course* • Repayments will be a basic 9% of income earned over £ 21, 000, but if income falls to £ 21, 000 or below, repayments will stop • Early repayments can be made at any time, but any outstanding loan balance will be written off 30 years after entering repayment 2015/16 *whichever comes first

3 STUDENT LOAN REPAYMENTS THE FIGURES Income each year before tax Income from which 9% is deducted Monthly Repayment (Approx) £ 21, 000 £ 0 £ 30, 000 £ 9, 000 £ 67 £ 40, 000 £ 19, 000 £ 142 £ 50, 000 £ 29, 000 £ 217 £ 60, 000 £ 39, 000 £ 292 Income £ 25, 000 9% Deducted £ 4, 000 from? £ 2015/16 £ Monthly £ 30 Repayment? Interest will be applied to the loan at a maximum rate of RPI +3% More info can be found on: www. studentloanrepayment. co. uk/portal/page? _pageid=93, 386

3 STUDENT LOAN REPAYMENTS THE INTEREST Interest added will vary, depending on a students circumstances: 2015/16 During study until entering repayment Interest rate is: Retail Price Index (RPI) +3% Income: Below £ 21, 000 Interest rate is: Set at RPI Only Income: £ 21, 000 to £ 41, 000 Interest rate is: RPI plus up to 3% Income: Above £ 41, 000 Interest rate is: Retail Price Index (RPI) +3% The interest rate applied is updated once a year in September, using the rate of RPI from that March which is carried forward

3 STUDENT LOAN REPAYMENTS DEDICATED WEBSITE www. studentloanrepayment. co. uk 2015/16

SECTION 4 2015/16 APPLICATION INFORMATION

4 STUDENT FINANCE APPLICATIONS KEY MESSAGES – APPLY EARLY Each year thousands of students are late in applying for their finance and have no way to pay for their course or halls, some even have to drop out. . . Key messages to communicate to students include! • It will take at least six weeks* to process an application so apply early! • Apply online at gov. uk/studentfinance to make sure that their student finance is in place for the start of their course • They don’t need a confirmed place at university or college to apply for student finance • Apply with their first choice, they can change details later if they need to 2015/16 *SFE handle over 1 million applications a year, most involve interactions with other government departments e. g. HMRC

4 GOV. UK FOR MORE INFORMATION & TO APPLY www. gov. uk/studentfinance 2015/16

4 STUDENT FINANCE APPLICATIONS KEY MESSAGES – GET IT RIGHT FIRST TIME • 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 an application is supplied first time (students and parent/partners’) • Submit an application even if there is a delay in getting income details from parent/sponsors so some funding (Tuition and Maintenance Loan) will be available when they start their course • If SFE request any additional evidence or documents to support the application use recorded delivery! 2015/16

4 APPLICATION INFORMATION 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 or other sponsors to support a students 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 2015/16 If sponsors can’t submit details online, they should send a paper application form and copies of financial evidence - P 60’s etc. . .

4 2015/16 STUDENT FINANCE APPLICATIONS AUTOMATICALLY ISSUED SPONSOR EMAIL

4 SFE ONLINE FOR FURTHER INFORMATION & RESOURCES www. thestudentroom. co. uk/studentfinance www. facebook. com/SFEngland www. twitter. com/sf_england www. youtube. com/SFEFILM 2015/16

SECTION 4 APPLICATION INFORMATION NEXT STEPS 2015/16

4 NEXT STEPS SFE DOCUMENTATION Following assessment, SFE send important documentation to the student regarding their application and financial entitlement: Entitlement Letter: • Once an application is assessed we send the student an entitlement letter highlighting the student finance they can get • Students should keep this letter as they might have to show it to their university or college when they register Online Declaration: • If the student applied online, the letter will also include a declaration students must sign and return to us 2015/16

4 NEXT STEPS CHANGE OF CIRCUMSTANCES Making changes depends on the status of an application/course start date: Submitted Applications (Not yet approved) Before their course start date students can amend most of their application details, including: 2015/16 • Course/University or College • Loan requests and personal details • Cancel their application if necessary

4 NEXT STEPS CHANGE OF CIRCUMSTANCES Submitted and Approved Applications - Before Course Start Date Students can: • Change/cancel application and update personal details • Change course or University/College • Change loan amount (the amount the student wants to borrow) Approved Application - After course start date Students can make basic changes to their application and loan amount requested (via Loan Request Form) However, students must contact their HEI if they wish to: • Change their course (Course and HEI transfer) • Take a break, withdraw from, or return to a course • Change Tuition Fee charged by the HEI (Prior to the term start date) 2015/16 Full online Co. C functionality will be available by the end of June (links currently available to relevant paper forms)

SECTION 5 2015/16 PRACTITIONER RESOURCES

5 PRACTITIONER RESOURCES DEDICATED WEBSITE www. practitioners. slc. co. uk 2015/16

5 PRACTITIONER RESOURCES DEDICATED WEBSITE Access and download our wide range of IAG resources, including: • Suite of Factsheets • Series of Full and Quick Guides • Power. Point Presentations • Videos and Marketing Materials • Policy Documents and SFE Updates 2015/16

5 2015/16 PRACTITIONER RESOURCES STUDENT APPLICATIONS – MOCK ACCOUNT

5 PRACTITIONER RESOURCES OTHER USEFUL WEBSITES www. slc. co. uk 2015/16 www. heiinfo. slc. co. uk

5 PRACTITIONER RESOURCES SUPPORT FOR PRACTITIONERS 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 I can support you and your colleagues with any area of student finance IAG delivery, please do get in touch: Email: ben_rutter@slc. co. uk Tel: 075544 58871 www. practitioners. slc. co. uk/regional-support 2015/16 Practitioner Helpline: For detailed/complex regulatory advice and particularly complex assessment enquiries – 0300 100 0618

i NEED MORE INFORMATION? For further Information on student finance and applications go to: www. gov. uk/studentfinance For a range of helpful tools, resources and guidance, visit: www. practitioners. slc. co. uk 2015/16 www. gov. uk/studentfinance