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UK Students - Government Undergraduate Funding
Frequently Asked Questions
Government (Statutory) Funding – 2012 entry
All amounts quoted are correct as July 2012
Q1) What help can I get toward my living costs?
Q2) How much do I need to live on?
Q3) How is my undergraduate student (living cost) loan paid?
Q4) What will the tuition (course) fees cost?
Q5) What support can I get for tuition fees?
Q6) Do I pay interest on my loans for living costs / tuition fees?
Q7) When / how do I have to repay my loan(s)?
Q8) Is there any subject specific funding available?
Q9) What if I run into financial difficulty during the year?
Q10) Will I be classed as an independent student?
Q11) What support is available towards childcare for students at University?
Q12) What University awards are available?
Q13) How long will it be before I here the outcome of my application to the Access to Learning Fund?
Q14) I’ve run out of money, what do I do?
Q15) I haven’t received my student loan?
Q16) Other useful web sites
Q1) What help can I get toward my living costs?
Government help (for new UK undergraduate students 2012)
• Student Loan maximum £5,500 (£3,575 [65%] non-means tested; £1,925 [35%] means tested) for full-time non-final year undergraduates. http://www.lancs.ac.uk/sbs/funding/studentloan.htm
• Higher Education Maintenance Grant (HEMG - non-repayable) It is a means tested grant of between £3,250 and £50 paid on a sliding scale where income is between £25,000 and £42,600 It is paid in 3 instalments with your student loan. http://www.lancs.ac.uk/sbs/funding/livingcosts.htm
• Plus other Grants for students with dependants or a disability.
NB: If you have completed a degree there is no Government help available for 2nd degrees, although there may be some help if you failed to complete your first course. The only exception for students who have completed first degrees and wish to underatke a 2nd degree at Lancaster is for students applying for A105 (Medecine)
Q2) How much do I need to live on?
For living costs and budgeting guidance please see: http://www.lancs.ac.uk/sbs/funding/costsandbudgeting.htm
For the academic year we estimate that, for living expenses alone, you will need approximately £6,720 as a single undergraduate student.
Q3) How is my undergraduate student loan paid?
First instalment is paid 3-5 days after confirmation of enrolment from University to the Student Loans Company. Payment is made by BACS (Bank Automated Clearing System) in termly instalments. The student Funding Notification letter from the Student Loans Company will show the dates and amounts of payments due for your loan and any other grants you are due to receive, e.g. Higher Education Maintenance Grant etc.
Q4) What will the tuition (course) fees cost?
Undergraduates (UK/EU Full-time)
2012 - £9,000 p.a.
Q5) What support can I get for tuition fees?
For UK/EU students there is a non means tested tuition fee loan available. The amount you apply to borrow is paid directly to the University by the Student Loans Company. Please see: http://www.lancs.ac.uk/sbs/funding/feeloan.htm You will be responsible for paying the difference between the fee loan borrowed (received by the University) and the total tuition fees payable.
Q6) Do I pay interest on my loans for living costs / tuition fees?
Yes you are charged interest on your loan from the time you get your first payment in university until you pay your loan back in full.
The amount of interest you're charged varies (please see link below). The actually interest rates depend on the rate of inflation.
Q7) When / how do I have to repay my loan(s)?
You only have to start repaying your loan in the April following graduation or withdrawal, providing you are earning above the relevant threshold (UK students = £21,000.) The rate of repayment is 9% of any income above this threshold.
How to work out your monthly repayment amount
1. Take away £21,000 from your annual salary before tax
2. Work out 9% of the reminder
3. Divide that figure by 12
4. Round down to the nearest pound
For example if you were earning £30,000 per year:
1. £30,000 - £21,000 - £9,000
2. 9% of £9,000 = £810
3. £810 / 12 = 67.5
4. Round down
If you leave your course early
You must tell your university or college and Student Finance England if you leave your course early.
You have to repay any loans or grants you were paid but not entitled to in one of th following ways:
- repay the amount in full
- set up a monthly repayment plan
If you leave your course early you need to repay a percentage of the Tuition Fee Loan for that year. The percentages are:
- 25 per cent during term one
- 50 per cent during term two
- 100 per cent during term three
Find out more about how to repay your loan if you leave your course early by contacting the collections department of the Students Loans Company on 0845 073 8895
For further information please see:
Q8) Is there any subject specific funding available?
Most Government support for UK students applies equally for all subjects, for exceptions to this please see http://www.lancs.ac.uk/sbs/funding/otherfunding.htm
Q9) What if I run into financial difficulty during the year?
Undergraduate home UK students
ALF (Access to Learning Fund) – please see web page http://www.lancs.ac.uk/sbs/funding/alf.htm
Emergency loans – please contact Student Funding Service (telephone 5-92525 or email us to make an appointment with a Student Adviser.
College loans - please contact your College Secretary
Undergraduate international students
Student Aid Fund (crisis only – grant or loan) – please contact Student Based Services
Tel: (5) 92524 or email us to make an appointment with our International Student Adviser
Q10) Will I be classed as an independant student?
You will be classed as independant if
- you no longer live with your parents
- you married before the start of the academic year (classed as before 1st September by SFE/SFNI/SFW/SAAS)
- you have no living parents
- have supported yourself for at least three years
- you have a dependant child born before 1st September of relevant academic year
Q11) What support is available towards childcare for students at University?
UK Undergraduate
See: http://www.direct.gov.uk/en/EducationAndLearning/UniversitYAndHigherEducation/StudentFinance/Typesoffinance/DG_171503
or http://www.lancs.ac.uk/sbs/funding/livingcosts.htm
Q12) What University awards are available?
University awards – please see web page:
http://www.lancs.ac.uk/study/undergraduate/fees-and-funding/scholarships-and-bursaries/
For other awards please see: http://www.lancs.ac.uk/funding
Q13) What if I cannot manage on the financial support I receive, where can I get help and how long does it take?
The University has discretionary funds to help students in financial difficulty. This fund is called the Access to Learning Fund (previously called the hardship fund). For full details see: http://www.lancs.ac.uk/sbs/funding/alf.htm
You can usually get emergency help within 24hrs.
Q14) I’ve run out of money, what do I do?
Contact the Base, ext. 92525 to make an appointment to discuss an emergency loan or approach your College Administrator.
Q15) I haven’t received my student loan, what can I do?
Check with the SFE/SFN/SFW/SAAS that you have supplied all the correct information. You can access your account online via DirectGov If you still have any problems contact the Student Funding Service at Lancaster University, telephone 01524 594848 or 01524 592525 to make an appointment or to discuss.
Q16) Other useful web sites –
Student finance websites
Direct Gov www.direct.gov.uk/studentfinance
UCAS www.ucas.com/studentfinance/index.html
Lancaster University - Student Funding Service, based within Colleges & Student Life, Student Based Services: www.lancs.ac.uk/sbs/funding
The Funding helpline: 01524 594848
email. studentfunding(at)lancaster.ac.uk
