NHS Student Finance for full time undergraduates starting in September 2014 (Information relates to academic year 2013/14, information for 2014/15 to be.

NHS Student Finance

for full time undergraduates starting in September 2014

(Information relates to academic year 2013/14, information for 2014/15 to be confirmed by NHS later

in year)

What we will discuss

• Bursary explained• Types of bursary• Support for BSc Degree level students• Basic bursary• Student loan• Additional grants• Additional support• Practice placement expenses• How to apply

Bursary

• Funding for living costs• Paid monthly• None repayable• Not subject to Income Tax or

National Insurance• Eligibility criteria applies

Types of NHS bursary

• None income assessed grant

• Income assessed bursary• Dependant students• Independant students

Support for BSc Students

• None income assessed grant of £1,000

• Maximum income assessed bursary of £4,395 for a 45 week or more course

• Based on household income• Number of weeks of course• And where you live (with parents or not)

Support for BSc Students

Length of academic year

Non-means tested grant

Income assessed bursary.

Students living away from home

Income assessed bursary.

Students living in parental home

30 Weeks £1,000 £2,591 £2,163

Over 45 Weeks £1,000 £4,395 £3,351

The actual amount of bursary is dependent on your household income

Student Loans

• Reduced rate student loan available• Amount available depends on where you are

living• Not means tested• Repayable once graduated and earning more

than £21,000• Interest on loan of 3% plus inflation

Student living elsewhere Student living at home

£2,324 £1,744

Additional Grants• Parents’ Learning Allowance

• Up to £1,180

• Dependants allowance • Up to £2,400 for first child or adult dependant• Up to £539 for additional dependant children

• Childcare Grant• Up to 85% of the cost of registered childcare• Maximum of £126.65 per week for one child or

£187.75 per week for two or more children

Additional Support

• Council Tax exemption

• Additional bursaries for Foyer residents or care leavers

• Disabled Students Allowance• Specialist equipment – up to £5,161 for course• Non medical helper – up to £20,520 per year• Other medical related expenses – up to £1,724

Practical Placement Expenses

You can claim costs within the UK for travel to and from your placement site involving;

• Public transport• Essential use of your own motor vehicle• Use of your own bicycle• Car parking, tolls and ferries

Claim costs must be in excess of your normal daily travel costs from your term time residence to your University

Repayment terms on loan• Loans are repayable from the April after graduation

and earnings are above £21,000. • From the April after you leave university if you are

earning below £21,000, interest will reduce to just the rate of inflation

• Graduates earning between £21,000 and £41,000 will be charged interest at the full rate of inflation plus interest on a sliding scale up to 3 per cent.

• Graduates earning above £41,000, will be charged interest at the full rate of inflation plus 3 per cent.

Repayment examples

How to apply

• Explore all funding you are eligible for• Apply in plenty of time• Application forms – NHS Grants Unit• Forms can also be downloaded from

www.nhsbsa.nhs.uk/students, or telephone 0845 358 6655

• For Student loan apply at; www.direct.gov.uk/studentfinance

• Think about part time work

Telephone:0121 331 5588

Email: [email protected]

Web: www.bcu.ac.uk/studentserviceswww.facebook.com/bcussvwww.twitter.com/bcussv

We have dedicated staff whocan help you with:

• Budgeting• Money Management• Debt Counselling• Alternative sources of

funding• Access to Learning Fund

Student Services