Money Matters

Student finance is a complicated subject, with many variables including family income and course applied for. The Government is currently debating the whole funding and the fee structure for Higher Education. More information will be made available on www.northumbria.ac.uk/fees as it becomes available.
The following information was correct as of October 2010.

Course costs for UK students

In line with the Higher Education Act the tuition fee for 2011 is £3,375 per year for
eligible full-time courses. The fee is linked to inflation which means it increases slightly
each year. The Government is currently undertaking a major review of Higher
Education funding and as it becomes available all new information will be
included on the University web pages www.northumbria.ac.uk/fees.

Students do not have to pay any of these fees whilst studying (with exception of the
LLB exemption fee). Instead they can take out a loan which defers the cost until after
graduation. Student loans have a low interest rate linked to inflation and students do not have to start paying the loan back until they are earning an annual salary of over £15,000. Repayments are taken straight from the graduate’s salary similar to tax or National Insurance.

At present, additional funds for UK students are also available. Amounts vary depending
on family income and the funding body.

This funding includes:

A non-repayable Government Maintenance Grant. Currently around half of Northumbria’s undergraduates are eligible for a full or partial Government grant.
A Student Maintenance Loan to help with living costs. All students are eligible to
receive 72% of the maximum loan available. The remaining 28% is means tested on household income and the amount will also be reduced if in receipt of the Government Maintenance Grant.
Some students will be eligible for a grant from the Government’s Access to
Learning Fund, available through Welfare Support in Student Services.

For more information on eligibility and to apply for the Maintenance Grant /Loan,
Tuition Fee Loan and other grants go to www.direct.gov.uk/studentfinance

Some students on health related courses (degree/diploma) are funded by the NHS and
should go to www.nhsstudentgrants.co.uk for information about current rates of
bursaries and the application process.

Degree students should note that they can apply for a reduced student loan and can find details about the application process for the loan at www.direct.gov.uk/studentfinance

Find out more

Northumbria has a team of advisers who can give help and advice. To find out more visit www.northumbria.ac.uk/welfare or call +44 (0) 191 227 4127

Student Comment
"The first instalment of my student loan was the most money I had ever had in my account. I knew that it had to last me until the next instalment so after going a bit mad during welcome week, I decided to set myself a budget. I was very lucky and my parents helped me financially every month. I took into account all of the money I knew I was getting and subtracted all of the money I knew I had to pay out; rent, bills, text books, things like that. The money I was left with I divided by the number of weeks in between loan payments and ended up with the figure of about £70 per week. This was to cover food, travel, going out and anything else I wanted to do.

I could have easily stuck to this but I decided to get a part-time job anyway. I thought it would give me a bit of extra money, I would gain some valuable work experience plus I would meet new people. That extra money helped me travel home to Liverpool a couple of extra times and meant that I didn’t have to go for weeks on end eating super noodles! Even just having that figure of £70 per week kept me from getting into debt and meant that I could live comfortably throughout my first two years of university. Having more money would have meant that I was able to buy things that I didn’t really need and I would have probably wasted it, so I have learnt the importance of responsible spending which will prove invaluable once I secure a graduate job."

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