16 17 FEES AND LOANS Student Finance is the organisation set up by the UK Government to provide students with financial support to pay for their course and assist with living costs while studying. There are two main types of support students can apply for: Tuition Fee Loan English students studying their first full-time undergraduate qualification have the opportunity to get a loan to cover the full amount of tuition fees without making any upfront payments. Maintenance Loan This is available to students to help with general living costs while studying. SOME STUDENTS MIGHT ALSO BE ABLE TO APPLY FOR: CHILDCARE GRANT PARENTS’ LEARNING ALLOWANCE DISABLED STUDENTS’ ALLOWANCE ADULT DEPENDANTS’ GRANT NHS BURSARIES STUDENT LOAN REPAYMENTS You do not need to pay anything upfront! Not only do students not have to pay anything upfront, but after graduation, they pay less than £10 a month back when on a salary of £27,000 a year. Students will only start to repay tuition fees or maintenance loans from the April after they leave their course, and only if they are earning over the repayment threshold. Repayment will be at 9% of income above the threshold. If their salary falls below the repayment threshold, their payments will be suspended. Repayments are based on earning as opposed to the amount borrowed. If a student loan has not been repaid after 30 years, the outstanding balance will be written off. FOR THE LATEST INFORMATION AND TO FIND OUT HOW MUCH YOUR CHILD IS ENTITLED TO, VISIT www.gov.uk/student-finance QUIZ!Why not have some fun with your child and have a go at our quiz... Approximately how many undergraduate students does University College Birmingham have? A. 7,000 B. 5,000 C. 1,000 1. How many universities are there in Birmingham? A. 5 B. 3 C. 8 2. How much has University College Birmingham invested in student resources and facilities over the past 10 years? A. £160 million B. £110 million C. £90 million 3. After how many years is the outstanding balance of a student loan written off? A. Never B. 50 years C. 30 years 4. How many campus buildings does University College Birmingham have? A. 4 B. 6 C. 9 5. How much credit per course year do all eligible students receive as part of University College Birmingham’s Kick-Start Scheme? A. £100 B. £200 C. £300 6. For answers, see back page. STUDENT FINANCE START REPAYING A STUDENT LOAN WHEN YOUR INCOME EXCEEDS £27,000 A YEAR UNIVERSITY COLLEGE BIRMINGHAM UNIVERSITY COLLEGE BIRMINGHAM
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