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Student Finance (With NHS Bursary)

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by

Katharine Knight

on 29 February 2016

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Transcript of Student Finance (With NHS Bursary)

Who are Student Finance England?
Student Finance England provide financial support to students on higher education programmes
The two main costs you have at university are accommodation and living costs - SFE help with both
The finance you get depends on your circumstances, course and where you study
NHS Bursary
Students applying for NHS funded programmes are entitled to different funding

What finance is available?
NHS funded tuition fees
Non-means tested grant
Means tested bursary
Extra support
Reduced maintenance loan from Student Finance England
Student Finance
What can I apply for?
What am I entitled to?
Repayments and interest
How to apply
Managing your money

What finance is available?
Most students are eligible for
Tuition Fee loan
Maintenance Loan

There is other finance available for students with particular circumstances
Tuition Fee Loan
Eligible students won't have to pay their tuition fees up front
It covers the fee set by the university for tuition fees per year, usually £9000
Doesn't depend on household income
SFE pay the fees directly to the university
It is
repayable
Maintenance Loan
All eligible students will get some maintenance support
The amount you get depends on your household income and where you are going to study
Maintenance loan is paid into your bank account each term
It is
repayable
Whose income counts?
Living at home
Bursaries and Scholarships
Bursaries are usually linked to personal circumstances, and often household income
Scholarships are usually linked to academic performance
These come directly from the university
They take different forms - tuition fee waivers, accommodation or cash
You may be automatically considered for some of them, but some require separate application forms so check the uni's website
There is a box on the SFE application that asks if you are happy to share your information with the uni - leave this ticked
Extra Support
Parents' Learning Allowance
Childcare Grant
Adult Dependents' Grant

Disabled Students' Allowance (DSA)
You can get support from DSA if you have a disability, learning difficulty or mental health condition
This money is not usually given directly to you - it is there to pay for the services or equipment you need to study e.g. 1 to 1 support
There have been cuts to DSA this year - universities are now putting in place their own support to replace the cuts so check their websites
You
don't have to pay it back
Tuition Fees
All eligible students will have their tuition fees paid for then by the NHS
This is paid directly to the university
You do not need to pay this back
Tip
Use
www.gov.uk/student-finance-calculator
to find out how much money you could be entitled to based on your circumstances
Tip
To check your eligibility for Student Finance, go to:
www.ukcisa.org.uk

You can apply if all of the following apply:

you’re a UK national or have ‘settled status’ (no restrictions on how long you can stay)
you normally live in England
you’ve been living in the UK for 3 years before starting your course
Non-UK nationals must have settled status on the first day of the first academic year of the course -
which could be 1 September, 1 January, 1 April or 1 July.

You may also be eligible if your residency status is one of the following:

EU national, or family member of an EU national
refugee
humanitarian protection
EEA migrant worker
child of a Swiss national
child of a Turkish worker
Non-means tested grant
All students are entitled to a £1000 grant
It does not depend on your household income
This does not have to be paid back
Means tested bursary
The means tested bursary element is assessed on your income (where applicable) and the income of your parent/s or your spouse/civil partner/partner, where applicable.
2015/16
Other Support
Dependents Allowance
Parent Learning Allowance
Childcare Grant
Extra Weeks Allowance
Practice Placement Expenses
Whose income counts?
Parents' Learning Allowance
Childcare Grant
Adult Dependants' Grant (ADG)
Dependents Allowance
Parent Learning Allowance
Childcare Allowance
This is payable if you have people who are wholly or mainly financially dependent on you for their day to day needs during your time on your course
This may include your spouse, partner or civil partner and children
Your entitlement to this allowance is assessed using your dependents’ income
Up to £2,448 for partner/first child and up to £549 for subsequent children
(15/16)
This may be payable to you if you have a dependent child or children (aged under 19). Your entitlement to this allowance is assessed using your dependents’ income.
Up to £1,204
(15/16)
This allowance may be payable if you have dependent children aged under 15 (or aged under 17 for children with special educational needs) on the first day of the academic year
The allowance pays up to 85% of your actual childcare costs, up to £128.78 per week for one child and £191.45 for two children
(15/16)
However, the amount you receive will depend on your circumstances and the income available to you and your family
Disabled Students Allowance
You can apply for Disabled Students Allowance from the NHS
If you have a disability, and need extra help or equipment to complete your course, you may be eligible to apply for this allowance
Submit evidence with your application
More information can be found at:
https://contactcentreservices.nhsbsa.nhs.uk/selfnhsukokb/AskUs_SB/template-group.do?name=Disabled+Students+Allowance+%28DSA%29&id=5454
Tip
Use the calculators at
http://www.nhsbsa.nhs.uk/3941.aspx to find out whether you are eligible
to find out what your status is and how much you could be entitled to
Repayments
Your repayments are based on how much you earn, not what you borrow
You don't start paying anything back until you earn over £21,000 a year
You repay 9% of whatever you earn over £21,000
If your income falls below £21,000 then repayments will stop
Any outstanding loan balance is written off after 30 years
What income counts?
Tip
Even if you move abroad, you still have to pay back your student loan. For overseas thresholds, go here
http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,6678823&_dad=portal&_schema=PORTAL
Interest
Interest is charged on your loan even while you are studying
The amount charged is based on RPI
RPI - The Retail Price Index, RPI, is a measure of UK inflation. It measures changes to the cost of living in the UK.
Interest
Whilst studying: RPI + 3%
Earning under £21,000: RPI only
Earning £21,000 - £41,000: RPI + up to 3%
Earning over £41,000: RPI + 3%

The interest rate is updated once a year in September, using the RPI from March of that year.
Tip
For more information on Student Loan repayments and interest, visit
http://www.studentloanrepayment.co.uk/
Reduced Maintenance Loan
NHS Students can also apply for a reduced rate maintenance loan from Student Finance England
This is a loan and has to be paid back
You need to put in a different application form for this finance

15/16 rates are:
£3,263 for students studying in London and living away from the parental home
£2,324 for students studying outside London and away from the parental home
£1,744 for students living at the parental home
How to Apply
Apply for
Student Finance
on www.gov.uk/studentfinance
Apply as soon as possible once it is open - you do not need to have been offered a place at your top choice to apply
You must apply by 30 May

Apply for
NHS Bursary
on http://www.nhsbsa.nhs.uk/3942.aspx
NHS Bursary opens 7th March
You need to wait for an offer at your top choice before you apply
You must apply by the end of August
Managing your money
Your maintenance loan is paid to you in three installments - one in September, one in January and one in April
If you are an NHS student, your bursary will be paid to you monthly whilst your maintenance loan is paid termly - double payment in month one, picks up again month three
Sometimes you may receive your loan after Freshers' week, so save up some money if you can - Freshers' passes/wristbands are a good way to save money and usually include free drinks
Many students run out of money in the first term, so make sure you don't spend it all in Freshers' week
Tip
Student Finance England: Put which course you hope will be your top one when you apply. If this changes, you can log onto your account and change it in the
Update Details
section
Info you need to apply (SFE)
If you have a passport, you will need to enter your passport details. This is the easiest way to provide identity evidence
If you don't have a passport then you will need to send your
original
birth certificate and a birth certificate declaration form to SFE -
https://www.gov.uk/apply-for-student-finance/proof-of-identity
Bank account number and sort code
Parent(s) or partner's email address
You may also need to send original evidence of marriage/divorce/children if applicable
Tip
Make sure you remind your parent(s)/partner to complete their part of the application form - if they don't fill their bit out it will delay your application
Info you need to apply (NHS)
You will need to send at least 2 forms of evidence -
original
birth certificate and one of the other options given to you when you apply
You may also need to send original evidence of marriage/divorce/children if applicable
Bank account number and sort code
Address history for previous employment at least 3 years
Tip
Send your documents recorded or special delivery if you are posting them to ensure they get their safely. Include a pre-paid recorded or special delivery with your address on inside so they will be returned to you safely. Otherwise they are returned second class
Tip
If you need to order a new birth certificate, you can do this here:
https://www.gro.gov.uk/gro/content/certificates/
- £9.25

You can order a new passport here:
https://passportapplication.service.gov.uk/ips-olc/
- £72.50
Tip
If you were not born in the UK, you will need to provide:
Date you came to the UK
Address history for the 3 years prior to the start date of your course
Passport or National Identity Card (and birth certificate for NHS Bursary)
You may be asked for additional info
Part Time Work
You may need to work part time alongside your course to fund your studies
This will not affect your student finance entitlement
Look for jobs before you move to the university if you can, or soon after you start
Many universities have job boards/sites
If you want ASPECT to read your CV before you move, email it to us
Budgeting
Buy a 16 to 25 Railcard/Student Bus Pass/NUS Card
If you are taking your car, be aware some universities charge a lot of money or don't allow them at all
Plan your incoming money and your outgoings, including like accommodation, phone bills, books, course costs e.g. materials, birthday and Christmas money, part time jobs
Build a personal budget:
http://studentcalculator.org/?utm_source=BrightKnowledge&utm_medium=bk&utm_campaign=BrightKnowledge
More Info
Student Finance England
:
http://www.practitioners.slc.co.uk/media/6836/sfe_new_full_time_students_main_guide_1617_d.pdf
https://www.gov.uk/student-finance
NHS Bursary:
https://www.gov.uk/nhs-bursaries/overview
NHS Bursary step by step: http://www.nhsbsa.nhs.uk/Students/4032.aspx
Under 25
the income of your natural/adoptive parents
If parents do not live together, it will be the income of the parent that you live with
If that parent lives with a partner, it will be their income too
Your 'unearned' income

Over 25
If you are over 25 and live with a partner, their income
Your 'unearned' income

Moodle
There is loads of really helpful on Moodle
Student Zone > ASPECT > Going to HE
Check out the information on accepting offers, what to pack when you go to university and information on gap years if you are taking one
Keep checking your emails for updates from ASPECT
Contact
Student Finance England
- 0300 100 0607
NHS Bursary
- 0300 330 1345 or nhsbsa.sbaccount@nhsbsa.nhs.uk
You can book 1 to 1 Student Finance appointments with Kat by emailing
katharine.knight@weston.ac.uk
Parents are also welcome to attend these meetings and can fill their part of the form out with Kat if they like
Tip
For 2017 entry, NHS courses will no longer be funded by the NHS. Students will receive the same support as those applying through Student Finance England - this includes tuition fees
Tip
If you're applying to do an NHS funded course in Wales or Scotland, make sure you contact the university to check how to apply
Whose income counts?
You are classed as an independent student (parents income no longer taken into consideration) if:
You are 25 or over
If you are or have been married or in a civil partnership
If you are responsible for a child
If you are a care leaver -
http://www.practitioners.slc.co.uk/media/5733/sfe_care_leavers_fs_pf_1516_d.pdf

If you are permanently estranged from your parents and have been for at least 12 months -
http://standalone.org.uk/guides/a-checklist-for-sending-evidence-to-student-finance-england-and-wales/
If you have supported yourself financially for 36 months before the start of the degree -
http://www.practitioners.slc.co.uk/media/5746/sfe_independent_student__fs_pf_1516_d.pdf

Parents’ and/or partner’s gross taxable income for tax year 2014/15
an estimate of your
unearned
income from September 2016 (this is usually £0 - part time/full time work does not count)
‘Reassessment’ if your household income has dropped since 14/15 tax year by 15%

Living away from home and independent students (outside London)
Living away from home and independent students (London)
Parents' Learning Allowance (PLA) is with course-related costs if you have children who depend on you. You can apply for PLA even if you choose not to apply for Childcare Grant (CCG)
You may be eligible for up to £1,573 Parents' Learning Allowance
PLA is usually paid in three installments, one at the start of each term. It’s paid directly into your bank account with your other student finance payments
You
do not have to pay it back
Adult Dependants' Grant (ADG) helps with additional costs that you have if you have an adult who depends on you financially
The amount of ADG you can get depends on your income and the income of your husband, wife, civil partner, partner or any other adult who depends on your financially. You can get up to £2,757 a year
ADG is usually paid in three installments, one at the start of each term
You can’t apply for ADG for an adult who is getting student finance for their own studies, or a grown-up child who is still dependent on you
You
don't have to pay it back
Full-time higher education students with children can apply for a Childcare Grant of:

up to £155.24 a week for 1 child
up to £266.15 a week for 2 or more children

The grant helps with childcare costs for children under 15, or under 17 if they have special educational needs.

This can only be used for children in registered or approved childcare.

You cannot claim this if you get the childcare element of working tax credit.

Any money you get is paid on top of your student finance and
you don’t have to pay it back
.
Tip
If you want to change your current bank account in to a Student Bank Account, your account number and sort code will stay the same.

If you want to open a new account, you usually have to wait until you have your confirmation letter from your university. Make sure you update your bank details on your student finance account.
Student Bank Accounts
Student Bank Accounts are specific to degree students
You can get 0% interest free overdrafts, which means that you're not charged for going into your overdraft
Different banks have different amounts of overdraft
Some will offer additional benefits e.g. free railcard
Make sure you read the small print - you are often expected to start paying off your overdraft as soon as you graduate and you may then be charged
Look for banks that offer Graduate accounts as well
http://www.moneysavingexpert.com/students/Student-bank-account

Student Finance Information Evening
We are running an information evening for parents/partners/students
Knightstone - Tuesday 8th March 6-7pm Bistro
UC - Wednesday 9th March 6-7pm Loxtons
Email
elaine.waldren@weston.ac.uk
with the details of which event you want to attend
Extra Weeks Allowance
If your course runs for more than 30 weeks and 3 days in the 2015/16 academic year (excluding vacation periods), you may also be entitled to Extra Weeks Allowance
If you have to attend the course for 45 weeks or more in any academic year, you will receive Extra Weeks Allowance to ensure your bursary covers all 52 weeks of the year.
2015/16
What income counts?
Parents’ and/or partner’s gross taxable income for tax year 2015/16
An estimate of your
unearned
income from September 2016 (this is usually £0 - part time/full time work does not count)
‘Reassessment’ if your household income has dropped since 15/16 tax year by 15%

Practice Placement Expenses
Under the terms of the NHS Bursary Scheme, students are entitled to have some of the costs arising from attendance at practice placements reimbursed to them, providing the claim is made within six months of the cost being incurred
Your university should authorise your completed claims and post them to NHS Student Services on your behalf
The cost of your daily return journey to your placement must be more than the cost of your daily return journey to your university in order for you to be able to make a claim
Whose income counts?
You are classed as an independent student (parents income no longer taken into consideration) if:
You are responsible or you have joint custody for the care of a person under the age of 18 who is dependent on you
If you are a care leaver
If you are permanently estranged from your parents and have been for at least 12 months -
http://standalone.org.uk/guides/a-checklist-for-sending-evidence-to-student-finance-england-and-wales/
If you have supported yourself for 36 months before the start of the degree
If you have been married/in a civil partnership

Regardless of your age, NHS Bursary presume you are dependent on your parents unless you can prove otherwise.

the income of your natural/adoptive parents
If parents do not live together, it will be the income of the parent that you live with
The income of a partner that lives with your parent is not taken into account unless they have legally adopted you
Your 'unearned' income

If you live with a partner as if married or are married/in a civil partnership then their income will be taken into account instead of your parents'.
Important Information
It is important to remind your parents/partners that they are not contracted to repay your loan by providing their information
Their details are
only
used to assess how much funding you will be entitled to
Your parents do not have to support your financially, even if that is what Student Finance/NHS bursary intend them to do
If your parents/partners refuse to fill out their income details, this does not class you as an independent student
If you live in a different house to your parent(s) but do not hit any independent student criteria, then you still have to put your parent(s)' income details

Important Information
It is important to remind your parents/partners that they are not contracted to repay your loan by providing their information
Their details are
only
used to assess how much funding you will be entitled to
Your parents do not have to support your financially, even if that is what Student Finance/NHS bursary intend them to do
If your parents/partners refuse to fill out their income details, this does not class you as an independent student
If you live in a different house to your parent(s) but do not hit any independent student criteria, then you still have to put your parent(s)' income details

Benefits
You
may
be eligible for some
income-related benefits
If you’re already claiming income-related benefits you should ask your local Social Security / Jobs and Benefits office how this will affect your benefits
Most full-time students can't claim income-related benefits, but you may be able to make a claim if you:
are a lone parent
have a partner who is also a student - and one or both of you are responsible for a child have a disability and qualify for the disability premium or severe disability premium of income-related Employment and Support Allowance
If you have a partner who is not a student and they’re eligible for any income-related benefits, your partner can claim on behalf of you both.
http://www.nidirect.gov.uk/benefits-for-higher-education-students-with-low-incomes
Benefits
Income related support you may be able to claim are
Income Support and Housing Benefit
Incapacity Benefit and Employment and Support Allowance (ESA)
- If you already claim one of these benefits, you may be able to carry on getting it as a student.
Working Tax Credit
- If you’re working as well as being either a full-time or part-time student, you may be able to get Working Tax Credit. If you receive the childcare element of the Working Tax Credit, you won’t be able to claim the Childcare Grant as well.
Child Tax Credit (
https://www.gov.uk/browse/benefits/tax-credits
)
- You may be able to claim Child Tax Credit if you are a student and are responsible for a child. Higher rates are available if:
you have more than one child
your child is disabled
Tip
As a HE student you probably won't need to pay Council Tax. You can get a Council Tax exemption form from the funding office at your university.
Tip
If you are deferring your place at university, you do not need to apply this year. Apply when Student Finance opens in February 2017.

If you are not sure if you are going to defer, apply for finance this year and then click 'cancel your application' if you no longer need it.

Remember, you are liable to pay back any student finance you borrow when you enrol on a course, even if you drop out.
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