STUDENT FINANCE

With UCAS offers flying in it’s now time to start considering in more detail Student Finance. Student finance has now opened for full-time students planning to start university/college in 2015. You are able to apply online.

From 2015 there have been many changes to the previous systems for funding so even if your sibling or friends have done it before this time it will be different, so you need to do your research. Financial support packages have changed for full time/part time students and those on full-time distance learning courses will also be able to access loans for their tuition costs. There has also been the introduction of a National Scholarship Programme which is supported by individual institutions and it is worth checking if you qualify. A full list of institutions participating and links to specific universities funding programmes is available from direct.gov.

There is a great deal of support available to help you understand what you should be applying for and the implications of the loans and support you will receive. Student Finance England will be handling your application and you can follow them on Twitter for all the latest information. Additionally there are a range of support documents about disability allowances, and if you fall into a specialist categories of support. Some of the key documents for parents include; Parents Myths and Facts, and Student Finance for Parents.

MoneySavingExpert.com have designed a calculator to enable you to change the variables such as tuition fee level, maintenance loan and likely starting salary, and get an idea of what you’ll pay back and for how long. If you play about with different amounts, you can see how much you can earn before you’re likely to pay back the full loan. As well as the more traditional sources of funding this calculator demonstrates educational trusts and charities are providing financial grants or awards to students. You can get advice on what’s available through the Educational Grants Advisory Service (EGAS).

Finally there are a couple of very useful video and explanations about student finance which you might find of interest to watch:

Martin Lewis explains student finance
Please feel free to speak to us in school if you have any queries or concerns.

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