DIUS launches new student finance campaign
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The Department for Innovation, Universities and Skills (DIUS) has
today launched a new campaign aimed at highlighting the financial
support available to students going into University from September
2008. The campaign encourages more young people to fulfil their
potential and progress on to Higher Education and highlights the
new and improved student finance package which will mean that once
the system is fully up and running, an estimated 100,000 extra
students per year will be...Request free
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The Department for Innovation, Universities and Skills (DIUS) has today launched a new campaign aimed at highlighting the financial support available to students going into University from September 2008. The campaign encourages more young people to fulfil their potential and progress on to Higher Education and highlights the new and improved student finance package which will mean that once the system is fully up and running, an estimated 100,000 extra students per year will be entitled to non repayable grants (two thirds of eligible students). The multi media campaign kicks off on November 5, the start of Student Finance Week 07 and is designed to debunk the myths around the financial support available to students going into higher education. The Campaign will feature television and radio adverts as well as web based and podcast material. All channels will point students and their parents towards an interactive DVD providing easy to access information on the Student Finance package. The DVD features four youth celebrities, including cameos from Miquita Oliver (T4), Mark Heap (Green Wing) and comedian Ed Byrne (Mock the Week), and is presented by rising star Nick Grimshaw (E4, Radio 1). It will be available to view online from November 5 at www.direct.gov.uk/unimoney or a copy can be ordered free of charge, by calling 0800 587 8500. John Denham, Secretary of State for Innovation, Universities and Skills said: "The new student finance package starting in 2008 means that more students that ever before (two thirds of eligible new undergraduates) will be entitled to a non repayable maintenance grant - this means 100,000 extra students a year will benefit from some level of grant support while they are at University. This, in addition to the support available in the form of loans for tuition fees and living costs and the bursaries that universities offer means that nobody should be put off entering Higher Education for financial reasons" "It is essential that young people and their parents understand that there is financial support available to study at university and that we have increased the thresholds for this support further so that from September 2008 students from families on an income of below #25,000 will gain a full non repayable maintenance grant. For the first time those students from hardworking families earning up to #60,005 per year (compared to #39,305 continuing under the old system) will now qualify for partial non repayable maintenance grants. This means that a larger number of students will now be eligible for this additional support who previously would not have qualified" To view the DVD online or order a free hard copy, log on to www.direct.gov.uk/unimoney www.direct.gov.uk/unimoney or a copy can be ordered free of charge, by calling 0800 587 8500.John Denham, Secretary of State for Innovation, Universities and Skills said: "The new student finance package starting in 2008 means that more students that ever before (two thirds of eligible new undergraduates) will be entitled to a non repayable maintenance grant - this means 100,000 extra students a year will benefit from some level of grant support while they are at University. This, in addition to the support available in the form of loans for tuition fees and living costs and the bursaries that universities offer means that nobody should be put off entering Higher Education for financial reasons" "It is essential that young people and their parents understand that there is financial support available to study at university and that we have increased the thresholds for this support further so that from September 2008 students from families on an income of below #25,000 will gain a full non repayable maintenance grant. For the first time those students from hardworking families earning up to #60,005 per year (compared to #39,305 continuing under the old system) will now qualify for partial non repayable maintenance grants. This means that a larger number of students will now be eligible for this additional support who previously would not have qualified" To view the DVD online or order a free hard copy, log on to www.direct.gov.uk/unimoney www.direct.gov.uk/unimoney- ENDS - NOTES TO EDITORS Full time students Tuition Fees In 2008/09 universities and colleges in England can charge tuition fees of up to #3,145 a year. For every student studying in England the Government contributes around #4,000 to the costs of their study. The help available Two types of support - repayable Student Loans and non-repayable grants and bursaries Repayable Student Loans * Student Loan for Tuition fees Covers the full amount of tuition fees charged up to a maximum of #3,145. Not income assessed, and paid straight to the university or college. Student doesn't have to take out the full amount - can choose less, but then needs to meet difference. This is paid directly to the chosen institution. * Student Loans for Living Costs (AKA the Student Loan for Maintenance) Covers the basic living costs and are paid directly to student bank accounts. Maximum amounts for 2008/09 are: Living away from parents home and studying in London Up to #6,475 Living away from parents home and studying outside London Up to #4,625 Living at parents home (in London and outside) Up to #3,580 Around 75% is available to everyone that's eligible, around 25% means tested based on household income (Note: The Student Loan for living costs is reduced by #1,260 if the student is eligible for more than #1,260 of Maintenance Grant. This will reduce the amount borrowed, and will help students manage their borrowing). * Repaying Student Loans - Repayments linked to earnings, not how much is owed. Students only start to repay in the April after they have left university or college. All Student Loans are combined and repayments are at 9% on earnings above #15,000. Someone on #18,000 (the average starting salary for a graduate ) pays back #5.19 a week. Repayments collected by HM Revenue and Customs from salary at source. Students can pay back lump sums at any time. * Repayment holiday - Students who enter student loan repayment from April 2012 will be able to take a repayment holiday of up to 5 years in. Any repayment holiday taken will extend the standard '25 year write off period' by the length of the payment break Non-repayable help: * Maintenance Grant - Income assessed and non-repayable. In 2008 worth up to #2,835. New students in 2008/09 Income under #25,000 Full Grant Income between #25,001 and #60,005 Partial Grant Income in excess of #60,005 No Grant Existing students in 2008/09(existing students do not qualify for the new thresholds) Income under #18,360 Full Grant Income between #18,361 and #39,305 Partial Grant Income in excess of #39,305 No Grant * Non-repayable Bursaries - Minimum #310 If student is paying full Tuition Fees of #3,145 and getting full Maintenance Grant of #2,835. Most institutions are offering more, and not just to these students. In 2007/08 the typical bursary for a student receiving the full Maintenance Grant on a course charging the full #3,070 tuition fee was #1,000. * Other non-repayable help - Disabled Students' Allowances (DSAs) for students with a disability, mental health condition or specific learning difficulty. This help is not means tested and does not have to be repaid. Non-medical personal helper (amount each year) Up to #20,000 Major items of specialist equipment (amount for the whole course) Up to #5,030 Other disability related expenditure (amount each year) Up to #1,680 - Childcare Grant, Parents' Learning Allowance, and Adult dependants Grant for students with children or adult dependants. This help is income assessed and does not have to be repaid. Childcare Grant For full time students with dependent children in 'prescribed' childcare Up to #148.75 a week (1 child) up to #255 a week (2+ children) Parents Learning Allowance Helps with course related costs for full time students with dependant children Up to #1,470 a year Adult Dependants Grant For students who have another adult dependent on them financially Up to #2,575 - The Access to Learning Fund is available from universities and colleges to provide help for students in hardship who may need extra financial support for their course and to stay in higher education. (Note: Payments are usually given as grants, but may be in the form of a repayable loan) The Higher Education Student Support Guarantee (HESSG) All 16 year olds living in England who receive an EMA in academic year 2008/09 will be given a firm guarantee of the minimum level of financial support they will receive if they progress into higher education. This guarantee will provide these young people with certainty about the financial support available should they decide to enter higher education, and enable them to see a clear route into higher education. Note: Existing EMA students will also get support under the current system and may also get full grant etc. Part time students Tuition Fees Unlike fees for full time courses part time course fees are unregulated which means that universities and colleges set their own rates. So the fees charges will vary considerably between courses as well as between institutions. The help available A Fee Grant of up to #1,180 a year and a Course Grant of up to #255 a year. Both grants are non-repayable. Students who already have a degree cannot usually apply for this help. Fee Grant The Fee Grant helps meet the cost of tuition fees. It is income assessed and is also based on the intensity of the course - how long it takes to complete the course compared to a full time course. Intensity of course How much fee grant is available Between 50% to 59% of an Up to #785 a year equivalent full-time course Between 60% to 74% of an Up to #945 a year equivalent full-time course 75% or more of an equivalent Up to #1,180 a year full-time course Course Grant The Course Grant is worth up to #255 a year and helps meet the cost of books, travel and other course expenditure. It is income assessed and is NOT based on the intensity of the course. Part time students may also be eligible for DSAs (see above) |