Finance and Paying Your Fees

Tuition Fees and Bursaries September 2012

Important information about Student Finance

It doesn’t matter whether you study in September 2011 or September 2012  If you’re looking for a leading degree without the hassle, expense and heart-ache of having to go away to do it, Stockport College has one for you.
You’ve probably read articles in the paper or seen TV news flashes about rising tuition fees for higher education students. Some of these stories are very confusing and unfortunately this may mean that some people have become scared of the idea of going into higher education. But at Stockport College we thought you should know what this really means to you, we don’t want anyone to be put off applying for higher education courses or sacrificing higher earnings and promotion because of confusion over how the fees will affect you!

Started your course before September 2012?

Tuition fees for full time courses started before September 2012 will be £3050

Tuition Fees for full time Foundation Degrees in Children’s Services started before September 2012 will be £1500

Provided your circumstances have not changed, you will be eligible for the same level of financial support from Student Finance England that you received for the 2011/12 academic year.  Apply at www.direct.gov.uk/studentfinance

Part time HE tuition fees will remain the same for 2012/13, but subject to cost of living increases. For more detailed information Contact the Welfare Officer on  0161 958 3145.

Existing part-time students with a household income under £28,065 (depending on your circumstances) will continue to receive a fee grant and course grant.

Starting your course in September 2012

Stockport College has set all its full-time degree courses at a maximum of £6,000 a year from September 2012 for new students –This means you could save as much as £9000 studying at Stockport as opposed to other local Universities or Colleges.

The tuition fee costs you will need to know for full-time HE courses are:

• For courses starting in September 2012 - £6000
• For Foundation Degrees in Children’s Services - £3000
• For HND Engineering: Aeronautical, Electrical/Electronic, Mechanical - £4000

The Facts

From September 2012 there are two main costs new full-time students need to consider: tuition fees and living costs.

Tuition fees: Full-time students

•    If you’re a full-time student studying on your first higher education course, you can get a government loan for your tuition fees.
•    The changes ONLY apply to new September 2012 undergraduates. Existing students’, provided you stick to the same course, and 2011 starters stay on current fees and funding structure.
•    Tuition fee loans are paid back when you are earning over £21,000 a year. Repayments are taken by employers like tax at a rate of 9% of everything over £21,000. If there's debt after 30 years it disappears, so if you never earn over the threshold, you'll never repay a penny.

Living costs

•    Living costs cover things like accommodation, food and travel costs. This will vary depending on where you study.
•    If you’re studying full-time, loans, grants and scholarships are available to help you with your living costs. What you’ll receive will depend on your personal circumstances

Additional financial support

In addition to tuition fee loans and living cost loans (also called maintenance loans), there is other financial support available to help full-time students with the cost of studying at college or university.

Grants

•    The important thing about grants is that, unlike a loan, they do not have to be paid back.
•    Grants are not available to all students, and if you are eligible, the amount you receive depends on your household income.
•    If you’re a student from a lower income background they can help pay towards your living costs (food, travel, accommodation etc) while you study.

Bursaries

•    Stockport College offer their own bursaries and scholarships. These are paid annually, usually in the form of cash. You don’t have to pay the money back.
•    The College uses a set of criteria to determine the eligibility of all applicants. The College will usually give you a bursary if you’re eligible for a full grant but may give you a bursary even if you are only eligible for a partial grant.

National Scholarship Programme

•    The National Scholarship Programme (NSP) starts in September 2012. It gives financial help to full time and part time students studying in higher education in England. The NSP is designed to help first year students whose families’ income is £25,000 a year or less. Eligible students need to also fulfill a minimum criteria range set by the College.
•    NSP awards are in addition to any other student finance you might apply for, apart from help with your tuition fees.
•    Stockport College NSP awards are available to support eligible students with their tuition fees and provide a cash bursary capped at £1,000.  If you receive this kind of support under NSP, your tuition fee loans will be adjusted accordingly.
•    You can apply direct to the college once you have got an offer for a place. The link to download the NSP application form and guidance notes can be found at the bottom of the page.

Tuition fees: Part-time students

People make the decision to get into higher education at all times of life and for all sorts of reasons. Whilst part-time students will still have to pay tuition fees, from September 2012 onwards new part-time students can apply for a tuition fee loan to cover their tuition costs.

Tuition fee loans

•    To be eligible for a tuition fee loan, this must generally be the first time you’re studying on a higher education course. To qualify you must complete a minimum of 25 per cent of the equivalent full-time course load per year.
•    New part-time students can’t get a grant for their living costs.

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How much will the College charge?

Tuition Fees for full time Higher Education courses for the 2012/13 academic year will be £6000 or £3000 for Foundation Degrees in Children’s Services or  £4000 for HND’s in Engineering.  You  won't have to pay tuition fees while you are studying. You can apply for a non-means tested Tuition Fee Loan. Repayments begin when you graduate and are earning over £21,000. Further information can be found at http://www.direct.gov.uk/studenfinance

Information also available on the attached documents at the bottom of this page.

Grants

A Maintenance/Special Support Grant of up to £3,250 depending on your income/circumstances, is available. This does not have to be repaid. Further information can be found at http://www.direct.gov.uk/studenfinance

Student Loans

Student Loans for maintenance are available to help with living costs. Repayments begin when you graduate and are earning over £21,000. Further information can be found at http://www.direct.gov.uk/studenfinance

What about part time courses?

Part time fees will be charged on a pro-rata basis.  They will be based on the number credits studied as a percentage of a full time course. Contact the Welfare Officer on 0161 958 3145 for more details.

Stockport College Bursary

The Stockport College bursary of £1000 will be available to new full time students starting courses in 2011/12 academic year with a household income of £60,000 or less. The bursary, which does not have to be repaid, will be administered and paid through the Student Loan Company (SLC).Eligibility for the bursary will be assessed by means of your application for student support.

Bursaries are paid in February and May by the Student Loan Company into your bank account. The bursary will be dependent on satisfactory attendance and academic progress during the previous term.
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What about students from the European Union?

EU students may be eligible for help with tuition fees. If in doubt contact the Welfare Officer on 0161 958 3145.

Or from outside the EU?

Non - EU international students, who are not resident in the UK receive no assistance and have to pay the full international tuition fee.

Access to Learning Fund (ALF)

The College also runs a means tested Access to Learning Fund which is available to all students who can demonstrate an urgent need for help. This is operated through the College's Student Services Department contact the Welfare Officer on 0161 958 3145
 
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Other useful numbers

Department for Business, Innovation and Skills
http://www.bis.gov.uk/studentsupport

To find out about types of financial help available please see below:

England
http://www.direct.gov.uk/studentfinance 0845 300 5090

N. Ireland
http://www.studentfinanceni.co.uk

Wales
http://www.studentfinancewales.co.uk

Scotland
http://www.student-support-saas.gov.uk

EU Students
EU_Team@slc.co.uk  (+44) (0) 141 243 3570

Read the Moneysavingexpert guide to student loans and tuition fee changes