UNIVERSITY
TUITION FEES | Key facts and figures This
information is tailored for students domiciled in England but some details apply
to those from the rest of the UK and other EU countries. The situation for international
students remains unchanged and you should expect to pay variable tuition fees
higher than those for Home and EU students.
*Only
students applying for courses for the first time in 2012/13 will be charged the
higher fees.
*Students
who defer entry from 2011 to 2012 will come under the new arrangements in place
from September 2012.
*No
upfront tuition fees - you won’t have to pay any fees while you are studying -
you can apply for a student loan to cover the fees. This will be paid directly
to the University.
*You
can also apply for a student loan to help towards your living costs - up to £5,500
if you live away from home to study and up to £4,375 if you stay at home.
*Non
repayable grants of up to £3,250 are available to students from households with
incomes up to £42,600. Additional non repayable grants may be available for students
with dependants and for students with disabilities.
Martin
Lewis, journalist and consumer campaigner who created MoneySavingExpert.com, the
UK's biggest money website, speaks about the changes to the student tution
fee system.
*Repaying
student loans - you will only start to repay the loan after you have graduated
and are in employment and earning over £21,000. You will repay 9% of your income
above £21,000. For example if you earn £25,000 you would repay £30 a month. (ie
9% of £4,000/12 months).
This
table provides an overview of what your repayments will be like:
Gross
Salary After Graduation
Amount
from which 9% will be deducted
Monthly
Repayment
Yearly
Repayment
£21,000.00
or less
£0.00
£0.00
£0.00
£25,000.00
£4,000.00
£30.00
£360.00
£30,000.00
£9,000.00
£67.50
£810.00
£35,000.00
£14,000.00
£105.00
£1,260.00
£40,000.00
£19,000.00
£142.50
£1,710.00
£45,000.00
£24,000.00
£180.00
£2,160.00
£50,000.00
£29,000.00
£217.50
£2,610.00
£55,000.00
£34,000.00
£255,.00
£3,060.00
£60,000.00
£39,000.00
£292.50
£3,510.00
*Repayments
will be based on what you earn and not on what you owe and will be collected through
National Insurance Contributions.
*Interest
on student loans will be applied at the rate of inflation plus 3% while you study.
From April 2016 interest
will be applied at the rate of inflation if you earn £21,000 or less; the rate
of inflation plus up to 3% if you earn between £21,000 - £41,000 and the rate
of inflation plus 3% if you earn over £41,000.
*All
outstanding loan repayments will be written off after 30 years.
*Students
from Northern Ireland, unlike those in England, will start repaying their loans
once they are earning more than £15,795, not £21,000. Additionally, repayments
will end after 25 (not 30) years, irrespective of the level of any remaining debt.
*Part
time students starting in 2012 will be eligible for a tuition fee loan as long
as they are studying a minimum of 25% intensity of full-time equivalent.
