STUDENT FINANCE 2018/19 A PRACTITIONERS INTRODUCTION SESSION CONTENTS
STUDENT FINANCE 2018/19 A PRACTITIONERS INTRODUCTION SESSION CONTENTS The student finance package Additional support Part-time package
NHS courses Student loan repayment Application information Resources All content appearing in the following slides is subject to 2018/19 policy approval by the National Assembly for Wales.
THE STUDENT FINANCE PACKAGE 2018/19 THE STUDENT FINANCE PACKAGE SUPPORT AVAILABLE TO STUDENTS INCLUDES: Tuition fee support The ce n a n i tf n e d Stu
ge a k c pa Maintenance (living cost) support Scholarships & bursaries Additional support All content appearing in the following slides is subject to 2018/19 policy approval by the National Assembly for Wales. THE STUDENT FINANCE PACKAGE 2018/19 TUITION FEES TUITION FEES
OVERVIEW The maximum tuition fee students can be charged is 9,000 in Wales, and 9,250 in the rest of the UK. The tuition fee will be decided by the university or college. They could charge different amounts for different courses. TUITION FEES TUITION FEE SUPPORT A Tuition Fee Loan is available to cover the full cost of their tuition fees. How much Tuition Fee Loan they can get doesnt depend on their household income.
We pay it directly to the university or college once the student has registered. Tuition Fee Loans have to be paid back, but only when theyve left university or college and their income is over 25,000 a year. Students at private universities or colleges can borrow up to 6,165 towards* tuition costs, but only if the course has been approved for funding by the Welsh Government. *Students will have to self-fund any additional fee charged at a private university or college. THE STUDENT FINANCE
PACKAGE 2018/19 MAINTENANCE SUPPORT SUPPORT FOR LIVING COSTS Support is available to help towards living costs theyll have while at university or college and all eligible students will receive the same amount of money to live off while studying. This will be the equivalent to the National Living Wage. Two types of support are available Maintenance Loan and Welsh Government Learning Grant. The amount of loan available to them depends on where they live (e.g. with parents, in London etc) and study. Support for living costs are paid directly to their bank account each term. MAINTENANCE SUPPORT WELSH GOVERNMENT LEARNING GRANT
A minimum grant of 1,000 for all eligible students. Any additional grant will be based on their household income. Students from households with an income of up to 18,370 will be entitled to the maximum of 8,100*. Students from households with an income of up to 59,200 will be entitled to a partial grant. *Based on them living away from home outside of London. MAINTENANCE SUPPORT Living away from home, outside of London Living with parents Living away from home, studying in London Grant
Loan Grant Loan Income Grant Loan Total 18,370 or less 8,100 900
1,730 7,270 1,605 6,045 1,939 9,311 59,200 or over 1,000 8,000
1,000 6,650 1,000 10,250 9,000 Total 7,650 Total 11,250
ADDITIONAL SUPPORT ADDITIONAL SUPPORT OVERVIEW Extra money or support may be available to students if they: have children or adults dependent on them, or have a disability, including a long-term health condition, mental-health condition or specific learning difficulty ADDITIONAL SUPPORT DISABLED STUDENTS ALLOWANCES (DSAs) Help towards the additional costs that a student may face as a
result of their disability, including a long-term health condition, mental-health condition or specific learning difficulty. DSAs support: is available in addition to the standard student finance package, doesnt have to be repaid, is not affected by household income, and looks at the specific needs of the individual in relation to their disability and how it affects their studies. ADDITIONAL SUPPORT
DISABLED STUDENTS ALLOWANCES (DSA) DSA rates 2018/19 Part-time maximum support Full-time maximum support Frequency of payment Non-medical personal helper 15,885
21,181 Annual Specialist equipment 5,332 5,332 Duration of course Other disability-related costs 1,338
1,785 Annual Allowance Disability-related travel Reasonable spending can be claimed THE STUDENT FINANCE PACKAGE STUDENTS WITH DEPENDANTS Childcare Grant Based on 85% of actual registered/approved childcare costs, up to a maximum of: 161.50 per week for one child 274.55 per week for two or more children If no childcare provider details are provided a maximum cap of 115 p/w will apply to the first payment.
Parents Learning Allowance Helps with course-related costs for students with dependent children. Amount received will be between 50 and 1,557. Adult Dependants Grant For students with a partner or another adult who is financially dependent on them (cannot be an adult child). Maximum grant is 2,732. ! Dependants Grants are income related. Universities may offer additional support to students with childcare/caring responsibilities. ADDITIONAL SUPPORT SCHOLARSHIPS AND BURSARIES SCHOLARSHIPS AND BURSARIES Extra help is available for many students from universities.
Each university has its own scheme students need to research these. Students are more likely to get help if: - their family has a low income - they are the first person in their family to go to university - they study a particular subject (depending on university) - they get good grades at school/college - they study locally ! Students should check university websites and ask at open days and UCAS conventions for information on scholarships and bursaries: what is available and how/when to apply. PART-TIME SUPPORT WELSH PART-TIME SUPPORT PACKAGE TUITION FEES
New eligible students who start a part-time course on or after 1 August 2018 at a university or college in Wales can get a Tuition Fee Loan of up to 2,625, whether theyre at publicly-funded or privately-funded university or college. New eligible students who start a part-time course on or after 1 August 2018 at a publicly-funded university/college elsewhere in the UK can get a Tuition Fee Loan of up to 6,935. Or if theyre attending a private university/college elsewhere in the UK, they can get a Tuition Fee Loan of up to 4,625 (but theyll have to pay any fees over this themselves). WELSH PART-TIME SUPPORT PACKAGE LIVING COSTS
New eligible Welsh students who start a part-time course on or after 1 August 2018 can apply for loans and grants of up to 4,987.50. If appropriate, they can also get part-time Dependants Grants and part-time DSAs, depending on their intensity of study. EU students can only get a Tuition Fee Loan. They cant get any help with living costs, Dependants Grants or DSAs. NHS COURSES NHS COURSES FUNDING Eligible courses Students must be accepted for an NHS-funded place on a full or part-time course in Wales which leads to professional registration as a: doctor or dentist (they will be eligible for an NHS bursary after the fourth year of their course) chiropodist (including podiatrist), dietitian, occupational therapist,
physiotherapist, radiographer, healthcare scientist, paramedic, speech and language therapist dental hygienist or dental therapist nurse or midwife OTHER COURSES NHS COURSES NHS support Students studying on eligible courses who agree to work in Wales for two years after they graduate may be able to get a bursary from the NHS. A bursary is a yearly payment to help with living costs and tuition fees. Its paid each month and doesnt have to be paid back. More detailed information is available at http://www.nwsspstudentfinance.wales.nhs.uk/home
Full-time students on NHS degrees can also apply for a fixed grant of 1,000 per year. SFW support Full-time NHS students can also apply to Student Finance Wales for a reduced rate Maintenance Loan which does not depend on income. OTHER COURSES NHS COURSES AT UNIVERSITIES IN ENGLAND, SCOTLAND AND NORTHERN IRELAND From 2017/18, students studying nursing, midwifery or any other allied health profession course at a university or college in England, Scotland or Northern Ireland (or students studying in Wales who havent opted for an NHS bursary) wont be able to apply for funding from the NHS. Students will be able to apply to Student Finance Wales for help with their living costs and tuition fees in the same way as students on other courses.
Exceptions: Students studying medicine, dentistry (from the 4th year of an undergraduate course and graduate entry) dental therapy, dental hygiene or to be a paramedic may still be able to get an NHS bursary if theyre studying in England, Scotland or Northern Ireland. STUDENT LOAN REPAYMENT STUDENT LOAN REPAYMENT OVERVIEW Repayment contributions will not be made until students have finished their course and their income is over 25,000 a year.
Full-time students will be due to repay in the April after finishing or leaving their course. Part-time students will be due to repay in the April four years after the start of their course or the April after they finish their course,REPAYMENT whichever comes first. STUDENT LOAN Repayments will be 9% of income over 25,000 and will be deducted automatically from pay through the HMRC tax system for most students.
If income falls to 25,000 or below repayments will stop. STUDENT LOAN REPAYMENT THE FIGURES April 2018 Income each year before tax Monthly salary Approximate monthly repayment 25,000 2,083 0
27,000 2,250 15 30,000 2,500 38 32,500 2,708 57
35,000 2,916 75 40,000 3,333 113 ! Any outstanding loan balance will be cancelled 30 years after entering repayment.
STUDENT LOAN REPAYMENT INTEREST RATES There will be a variation in the interest rate attached to a students loan during study and when earning following graduation: During study until entering repayment Earnings: Below 25,000 Interest rate is: Retail Price Index (RPI) plus3% Interest rate is: RPI Only Earnings Between: 25,000 - 45,000
RPI plus up to 3% Earnings: Above 45,000 Interest rate is: Retail Price Index (RPI) plus 3% STUDENT LOAN REPAYMENT www.slc.co.uk/repayment STUDENT LOAN REPAYMENT PARTIAL CANCELLATION OF LOANS Eligibility will be automatic once the student starts repaying their student
loan, either voluntarily or when they are required to do so. Partial cancellation of up to 1,500. The amount of partial cancellation received will depend on how much Maintenance Loan they have borrowed and their outstanding balance, for example: - If they have a Maintenance Loan of 300 and the amount of their first repayment is 10, they will receive a partial cancellation of 290. - If they have a Maintenance Loan of 3,000 and the amount of their first repayment is 50, they will receive a partial cancellation of 1,500. APPLICATION INFORMATION
APPLICATION INFORMATION KEY MESSAGES Apply online at www.studentfinancewales.co.uk as soon as possible once the application opens to make sure student finance is in place for the start of their course. Register on UCAS and we can let students know when its time to apply. They do not need a confirmed place at university or college to apply.
They should make a note of their account login details and keep them safe. Agree to share information from their application - this helps apply for many bursaries and some scholarships. Students will be assessed for non income-assessed support if there are any delays in receiving household income information. APPLICATION INFORMATION APPLICATION INFORMATION COMPLETING AN APPLICATION Before starting an application, students should have the following to hand:
passport - SFW can check identity using valid UK passport details university and course details bank account details and National Insurance number After theyve submitted their application, they should: send any evidence theyve been asked for If parents or other sponsors will be supporting a students application, they will need their own account on www.studentfinancewales.co.uk to provide Information including: National Insurance number(s) Household income information Details of other child dependants If sponsors cant submit income details online, they can complete a paper form. APPLICATION INFORMATION WWW.STUDENTFINANCEWALES.CO.UK SOCIAL MEDIA FOR THE LATEST SFW NEWS
/SFWales /SF_Wales /SFWFILM A PARENTS GUIDE TO STUDENT FINANCE Our new film series explains everything parents need to know to support their childs application. Encourage them to watch it at www.studentfinancewales.co.uk APPLICATION INFORMATION EVIDENCE AND HOUSEHOLD INCOME
STUDENT FINANCE APPLICATIONS IDENTITY EVIDENCE SFW require all students to provide identity evidence in order for their application to progress. The following list details acceptable identification (ID) evidence: UK students identity evidence Students confirm identity by providing valid passport details in their online application. If they haven't included passport details in their online application they will need to send one of the following: a completed UK Passport Details Form (if holding a valid passport) original UK birth or adoption certificate along with a countersigned Birth/Adoption Certificate Form (ADIF) STUDENT FINANCE APPLICATIONS
IDENTITY EVIDENCE NON UK STUDENTS SFW require one of the following documents to be sent as proof of identity: EU National Identity Card (must be in date) original non-UK passport (must be in date) Biometric Residence Permit cards Non-UK students may also need to submit the following evidence: original Home Office documents to prove refugee status or leave to enter or remain status photocopies of P60, Contract of Employment, Tax Returns or a P45 to prove
European Economic Area (EEA) or UK work details a letter confirming addresses for the last three years prior to the start of their course to confirm residency details SUPPORTING AN APPLICATION HOUSEHOLD INCOME If supporting an application for income-assessed student finance, SFW will need to see details of parents, partners or other sponsors household (taxable earned and unearned) income and National Insurance number(s). 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 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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