Uni funding for 2006/2007

Aspecto · 16 Mar 2006 at 22:21

We had a meeting thing at my college today about funding for uni for pupils who are planning on going at end of this year. Basically i couldn't attend the meeting after i picked up an injury in my first training session for cricket and have been in bed all day :rolleyes:

Can anyone give me the jist of why the funding is different this year from previous years.

Thanks

Blackstar · 16 Mar 2006 at 22:23

Are you from Scotland? If you are then don't worry SAAS still pay for it. The executive are considering starting to charge top up fee's but it won't really effect Scottish students.
Other than that go ask back at your collage for a brief explaination.

j00ni · 16 Mar 2006 at 22:24

Should find all the info you need on the Aim Higher website

Or alternatively http://www.studentsupportdirect.co.uk

Stellios · 16 Mar 2006 at 22:26

IIRC its £3000 straight per year after next year. This is paid for you by the governement, and you dont start to pay this fee off until you are working and earning over £15k per year.

Blackstar · 16 Mar 2006 at 22:27

I love Scotland, no fees as of yet.

j00ni · 16 Mar 2006 at 22:29

Blackstar said:
I love Scotland, no fees as of yet.

Damned oil-producing cartel states

ken1307 · 16 Mar 2006 at 22:37

Stellios said:
IIRC its £3000 straight per year after next year. This is paid for you by the governement, and you dont start to pay this fee off until you are working and earning over £15k per year.

way too cheap compare to what I have to pay

it was £10500 last year and £10750 this year, hate to be international student :mad:

Jotun · 16 Mar 2006 at 22:39

I applied last year and defered entry... So I *should* only have to pay at last years rates

saitrix · 16 Mar 2006 at 22:40

Stellios said:
IIRC its £3000 straight per year after next year. This is paid for you by the governement, and you dont start to pay this fee off until you are working and earning over £15k per year.

When you hit £15k you then pay it back at a rate that is a percentage of your income. So more you earn the quicker you pay it back.

VeNT · 16 Mar 2006 at 22:40

anyone got info on over 21s applying for uni?
can WE get any funding etc?

DaveyD · 16 Mar 2006 at 22:50

Stellios said:
IIRC its £3000 straight per year after next year. This is paid for you by the governement, and you dont start to pay this fee off until you are working and earning over £15k per year.

I believe it's only £3000 if the university has chosen to charge the maximum allowed on their tuition fees, though I'm not 100% sure on that, but last time I looked into it, it was the maximum a Uni would be able to charge.

If you want, I believe you can pay it straight away via direct debit, but you can also have it just left for you to pay back with your student loan, over a long period of time, after you graduate earing above a certain threshold, which currently is ~£15,000 I believe.

It is possible to get support and scholarships from relevant institutions and education authorities, but it really depends on what industry you're going into for some grants and bursaries you can get.

Stellios · 16 Mar 2006 at 22:56

DaveyD said:
I believe it's only £3000 if the university has chosen to charge the maximum allowed on their tuition fees,

Your quite correct there sir, although im yet to come acroos a uni that doesnt charge the max. Personally id rather pay more and have good equipment, so im not going to complain about it. Northumbria Uni (where im going) also give you up to £500 of it back depending on the course, thats what they told me anyways.

saitrix · 16 Mar 2006 at 22:56

Yes it is down to the Uni to decide how much to charge with £3000 being the max.

It is exactly £15k income before you have to start paying back, Birmingham Uni gave me the example of its about £8.50 a week if you have a £20k job. So seems about 2%. Also yes you can pay upfront but i dont see the reasoning for it, the only interest the loan has is inflation.

Kol · 16 Mar 2006 at 22:58

VeNT said:
anyone got info on over 21s applying for uni?
can WE get any funding etc?

You can get your fees paid for and a £1000 grant if you can prove you have been independent for the past three years. That is, held a full time job and didn't rely on your parents for any support whatsoever.

DaveyD · 16 Mar 2006 at 23:00

Stellios said:
Your quite correct there sir, although im yet to come acroos a uni that doesnt charge the max. Personally id rather pay more and have good equipment, so im not going to complain about it. Northumbria Uni (where im going) also give you up to £500 of it back depending on the course, thats what they told me anyways.

Yeah, I've just had a look at a few university webistes, they all seem to be taking advantage of the £3,000 cap.

saitrix said:
Yes it is down to the Uni to decide how much to charge with £3000 being the max.

It is exactly £15k income before you have to start paying back, Birmingham Uni gave me the example of its about £8.50 a week if you have a £20k job. So seems about 2%. Also yes you can pay upfront but i dont see the reasoning for it, the only interest the loan has is inflation.

Well, there's always the chance it'll go up over the next 3 or 4 years, but I don't know, highly doubt it'll go down, as it's only recently gone to £15,000.

There are calculators out there on the web that'll tell you exactly what you'll be paying back, I'll find one in a sec.

VeNT · 16 Mar 2006 at 23:01

Mikol said:
You can get your fees paid for and a £1000 grant if you can prove you have been independent for the past three years. That is, held a full time job and didn't rely on your parents for any support whatsoever.

been self employed last 2-3 years

saitrix · 16 Mar 2006 at 23:01

A good way is that if you can get away with not spending your loan is to put it in a high interest account, that way you can make money on your loan.

DaveyD · 16 Mar 2006 at 23:04

saitrix said:
A good way is that if you can get away with not spending your loan is to put it in a high interest account, that way you can make money on your loan.

Way ahead of you

Not sure how accurate this is regarding student loan repayments, but it gives you a good example of what you'll be seeing deducted from your salary.
So say, 3years @ £3,000 tuition, that's £9,000, then 3 years loan, another 3 £3,000 max, just stick £18,000 in your student loan box.

http://www.i-resign.com/uk/financialcentre/tax_calculator.asp

Stellios · 16 Mar 2006 at 23:10

saitrix said:
A good way is that if you can get away with not spending your loan is to put it in a high interest account, that way you can make money on your loan.

Im going to partly do this i think, but due to staying at home (for the first year anyways, undecided after that) im not expecting to get that much.

Kol · 16 Mar 2006 at 23:13

VeNT said:
been self employed last 2-3 years

If you can prove it, ie. invoices or whatever your SE people have, then you should stand a good chance.