Wadham College Open Day – 2011

Caroline Mawson, Jenny Tamplin & Will McCallum

2012/13 Fees and Funding(for English students)

What government support is available to ‘home’ students living in England entering HE in 2012/2013

Oxford University Support Wadham College Support Case studies Paying back the loans Additional information

Overview

Financial help will be available for tuition and living costs. Students will not have to pay up-front for their tuition.

Tuition Fees and Tuition Fee LoansMaintenance LoansMaintenance GrantsNational Scholarship ProgrammeAdditional support from Oxford UniversityAdditional support from Wadham College

The Main Package

Tuition Fee Loans and Maintenance (Living-Support) Loans

Oxford University will charge between £3,500 and £9,000 per year (dependent on household income) to students arriving in 2012.

Tuition fee and maintenance loans are provided by the government to ensure that you will not have any upfront costs to pay to the university when you arrive. £9,000 per year is the amount you will repay after

you have left university and are earning over £21,000 per year.

Tuition Fee Charge £ 9,000 per yearA Tuition Fee Loan of up £9,000 per year is

available, repayable after you have left university* The Tuition Fee Loan is paid direct to the

university by the Student Loan CompanyNot means-testedNo age limit

Tuition Fee Loan(repayable after course – NO upfront costs)

*Oxford will charge less than £9,000 to students whose household income is under £25,000

Will be available for all eligible students, 65% of maximum amount (£3,575) will be available irrespective of family income

Paid directly into student bank accountMust be under 60 at the start of the coursePaid in three instalmentsLoan written off after 30 yearsFor students who receive a grant - up to £1,625 will

substitute the loan

Maintenance Loan(repayable after course)

2012/13 Amount available Loan rate if in receipt of full grant

Maximum maintenance loan

(i.e. income assessed)

£5,500 £3,875

Non income assessed loan (65%) £3,575 n/a

Maximum load if living with parents

while studying£4,375 £2,750

Maintenance Loan Rates

Scholarships, Grants and Bursaries

Scholarships, Grants and Bursaries are funds from either the government or the university that are non-repayable.

They are awarded to students on the basis of household income. All students at Oxford University with a household income of less than £42,600 are eligible for some money in the form of either a grant or

bursary.

Available on a sliding scale to all students with a household income of under £42,600

Means-tested Maintenance Grant of £3,250 (for students with household income of less than £25,000)

Paid in three instalmentsNot available to students who are eligible for means-

tested benefitsGrant will substitute up to £1,625 of the Student Loan

Governmental Maintenance Grant(non-repayable)

For students who fall within the following categories:- Single parent

- Partner who is a student- Certain types of disabilities

Means-tested grant of up to £3,250Paid to students who are eligible for means-tested

benefitsPaid in three instalmentsWill NOT substitute part of the maintenance loan

Governmental Special Support Grant(non-repayable)

Household Income Level of Grant

Up to £25,000 £3,250

£25,000 to £42,600 £3,250 to £50

Over £42,600 n/a

Governmental Grant Income Thresholds

Full Support Package(approximate figures)Household

IncomeMaintenance Grant

Maintenance Loan

Total Living Support

<£25,000 £3,250 £3,446 £6,696

£30,000 £2,341 £4,028 £6,369

£35,000 £1,432 £4,611 £6,042

£40,000 £523 £5,191 £5,714

£42,600 £50 £5,500 £5,550

To qualify your household income should be under £25,000, however, not all students that qualify will receive a scholarship

Payment of £3,000 from Government in first yearFurther £3,000 matched by the university to fund student

support at OxfordNo more than £1,000 can be a cash payment Institutions will decide their own eligibility criteria and how

to allocate the matched funding – after the Office of Fair Access has confirmed Oxford’s fees, the university will publish how it intends to match the NSP funding

National Scholarship Programme(non-repayable)

Oxford University – Why £9,000?

Following cuts to higher education, it has been calculated that a fee of £8,000 would need to be charged just to maintain the status quo.

The difference between the new charges of £9,000 and the status quo of £8,000 will be used to pay for bursaries and fee waivers for those from financially disadvantaged backgrounds.

It has been estimated that the current cost of an Oxford undergraduate education is £16,000 per student per annum.

Against these costs the University currently receives tuition fees and teaching grants amounting to some £7,500.  The shortfall in income of some £8,500 is in effect a subsidy funded from other sources of University revenues such as its endowment.

This level of subsidy is expected to continue for the foreseeable future.

Oxford University will be charging between £3,500 and £9,000 per year to English students arriving in 2012. The tuition charge will vary depending on household

income.

Oxford University SupportTuition Charge

Household Income

Total tuition charge (per

year)

Amount funded by collegiate university (1st year)

Amount funded by collegiate university (further years)

Total amount repayable

after leaving university (3

year courses)

<£16,000 £9,000 £5,500 £3,000 £11,500

£16-20,000 £9,000 £2,000 £2,000 £21,000

£20-25,000 £9,000 £1,000 £1,000 £24,000

£25-42,600 £9,000 n/a n/a £27,000

£42,600+ £9,000 n/a n/a £27,000

We estimate basic living costs during term time at Oxford will be around £7,600. This figure includes College accommodation, food, going out and study costs. You will also need to consider the cost of travelling to and from Oxford, out of term opportunities and the additional costs of living out of

College accommodation which you might do for some of your course.

Oxford University SupportLiving Support

Household Income

Amount awarded by university (1st year)

Amount awarded by university

(further years*)

Government support

(every year)

Total amount available (1st

year)

<£16,000 £4,300 £3,300 £7,125 £11,425

£16-20,000 £3,500 £3,000 £7,125 £10,625

£20-25,000 £3,000 £2,500 £7,125 £10,125

£25-42,600 £500-2,000 £500-2,000 £5,262-7,125 £5,762-9,125

£42,600+ n/a n/a Up to £5,500 Up to £5,500

* This figure is subject to change, it may well increase year on year

Wadham gives a variety of grants and allowances to students, not all of which are income assessed, last year

the college gave over £85,000:

Student Support Fund – last year over £11,000 Assistance with rent – last year nearly £50,000, or £320 per student Free accommodation in Wadham during the holidays – over £17,000 (14

nights per student) Educational Support Grant – last year over £5,500 – or about £200 per

student Subject-specific grants – Normally range from £200-400 per student.

Wadham College SupportStudent Support

Wadham also supports students in their non-academic life, as well as rewarding those who perform well academically. Last year the College

gave over £45,000 in scholarships, grants and prizes to students:

Wadham College SupportScholarships, Grants & Prizes

£50 book vouchers are given to every first year student!

£12,000 in travel grants! (About £175 per student)

£23,000 worth of prizes for academic excellence and performing well in exams! (About £100 per student)

CB Fry Fund for students who compete for the university totalling about £3,000 – or around £200 per student

Moser Fund – students involved in the arts can apply for a fund of up to £500

Repayments

Tuition Fee Loans and Living Support Loans are to be repaid after students finish their course.

Students will only be expected to contribute when they are earning over £21,000.

The repayment will be on 9% of income above £21,000 (e.g. a student earning £25,000 will only pay 9% of £4,000 – which works out as £30/month)

All outstanding repayments will be written off after 30 years.

Repayment rates

Income Repayment per week under new system

Repayment per week under old system

£20,000 £0.00 £8.65

£25,000 £6.92 £17.31

£30,000 £15.58 £25.96

£40,000 £32.88 £43.27

£60,000 £67.50 £77.88

National Average (6 months after leaving)

Oxford Average (6 months after leaving)

Graduate unemployment

8.9% 5.9%

Salary £19,677 (source: HESA)

£25,500

Value for money

• Material Sciences graduates were the highest average earners of 2009 graduates with an average salary of £35,300

• They were followed by E&M and Computer Science graduates

• Teaching was the most popular profession, followed by researchers and then financial analysts/advisors

Students living in Wales

www.studentfinancewales.co.uk/

Students living in Northern Ireland

www.education-support.org.uk/

Students living in Scotland

www.student-support-saas.gov.uk

Non-English Students Further Information

General Student Finance

www.direct.gov.uk/studentfinance2012-13 Government Funding Information

http://www.studentfinance-yourfuture.direct.gov.ukStudent Loan Company

www.slc.co.uk/Oxford University funding information

www.admissions.ox.ac.uk/finance

Further Information

Any questions?