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Money Matters

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ACCESS STUDENTS

A £45 registration fee is payable by all Access students, some will need to pay additional fees. You may be eligible for the Learner Support Fund. For more information call Jo Sully on 01793 732826 or email jo.sully@newcollege.ac.uk

HIGHER EDUCATION STUDENTS

TUITION LOANS

How can you afford higher education?

From 2012 funding for Degrees and Higher Diplomas is changing. Universities will be able to charge up to £9,000 a year, and both full-time and part-time students can take out loans to cover these tuition fees. First-time undergraduate fees are paid by a loan from the Student Loans Company so there is no need to have saved money before starting the course.

How are these loans paid back?

Full-time students only start repaying their loan after graduation at 9 per cent of everything earned above £21,000. Part-time students who earn over £21,000 a year have to start paying back their loans after three years even if their course hasn’t finished. After 30 years, regardless of what you have already repaid the debt is wiped. If you never earn over £21,000 then you will never have to repay the loan.

Why have tuition fees increased?

Tuition fees go towards not only teaching time but to everything that makes up your education including facilities, learning resources, libraries, laboratories, support staff and research time. The cost of this education has not increased however from 2012 the funding given to higher education providers by the government has been significantly reduced. The argument is, rather than all taxpayers contributing, graduates – who will benefit directly from the degrees – will pay when they earn enough.

What will you have to pay for your Degree at New College?

Fees for all our Degree and Foundation Degree programmes are set by our partner universities. For up-to-date fees information on a particular course contact the partner university:

Bath Spa University

University of Gloucestershire

University of West of England

Sheffield Hallam University

  • 0114 225 5555
  • enquiries@shu.ac.uk

BPP University College

  • 0845 077 5566
  • admissions@bpp.com

LOANS AND GRANTS FOR LIVING COSTS

Only full-time students can get financial support for their living costs.

Maintenance Loans

The maximum Maintenance Loan for new students starting from 1 September 2012 is:

  • £5,500 if you live away from home and study at a University or College outside London
  • £4,375 if you live at home

Maintenance Grants

You can also apply for a Maintenance Grant if your family income is below £42,600. You can get:

  • £3,250 if your household income is £25,000 or under
  • £50 – £3,250 if your household income is between £25,000 and £42,600

These loans and grants are paid into your bank account at the start of each term, once you’ve registered on your course. Grants do not have to be paid back.

BURSARIES FROM NEW COLLEGE AND PARTNER UNIVERSITIES

New College is offering bursaries of up to £1,000 to help local students on certain programmes. To enquire, call our Higher Education Team on 0808 178 3874 or email he@newcollege.ac.uk

Bursaries and scholarships may also be available from our partner Universities. Contact the partner University for more information.

OTHER FINANCIAL ASSISTANCE

Depending on individual circumstances, students may be eligible to access one or more of the following:

  • Disabled Students’ Allowance
  • Parents’ Learning Allowance
  • Adult Dependants’ Grant
  • Childcare Grant
  • Access to Learning Funds

For some courses loans are also available from banks for professional development.

How do you apply for student finance?

Full details on loans, grants, bursaries and additional allowances can be found at: www.direct.gov.uk/studentfinance

For advice on finance please ring the Student Finance England helpline on 0845 300 50 90

You need to wait until early 2012 to apply for student finance for 2012/13 courses and applications should be made separately from UCAS online at www.direct.gov.uk/studentfinance