Charmaine Valente Presentation - Practitioners

South East Region - England
Charmaine Valente
Regional Student Finance Adviser

Content
• Student Finance Adviser – The Role
• Student Finance Update 2013/14
• Repayment Overview
• The Local Picture – South East

Student Finance Adviser – The Role
As part of my role, working in close partnership with key contacts across the
South East to deliver:
• Staff development and bespoke training
• Updates on student finance policy, packages and processes
• Resources for professionals
• Networking opportunities
• Signposting

Student Finance for 2013/14

What could full-time students get in 2013
• Support with tuition fees
Loans available so students don’t have to pay upfront
• Support with living costs
Maintenance Loans & Grants
• Bursaries and Scholarships from a university or college
• Additional support in certain circumstances:
Including students with childcare or adult caring responsibilities
and students with a disability

Summary for 2013/14
• Full-time fee loan £9,000 max (private providers max £6,000)
• Part-time fee loan £6,750 max (private providers max £4,500)
• Full-time and Part-time tuition loans remain non means tested
• Maximum Maintenance loan rates:
– £4,375 (At home)
– £5,500 (Away from home)
– £7,675 (London)
65% Non Means Tested
35% Means Tested
• Non repayable grant up 3.22% (maximum now £3,354 for 2013/14)
• Household income thresholds for means testing, £25,000 to £42,611

Combined Maintenance Support for 2013/14
Living away from home, outside London
Household
Income £
Maintenance
Grant
Maintenance
Loan
Total
£25,000 & under £3,354 £3,823 £7,177
£30,000 £2,416 £4,292 £6,708
£35,000 £1,478 £4,761 £6,239
£40,000 £540 £5,230 £5,770
£42,611 £50 £5,475 £5,525
£42,875 £0 £5,500 £5,500
£50,000 £0 £4,788 £4,788
£60,000 £0 £3,788 £3,788
£62,125 & over £0 £3,575 £3,575

Additional Support
Disabled Students’ Allowances
• Additional non means tested support for costs a student may face as a
result of a disability, mental-health condition or specific learning difficulty
Childcare Grant
• Based on 85% of actual registered/approved childcare costs
Parents’ Learning Allowance
• Support with course-related costs for students with dependent children
Adult Dependants’ Grant
• For students with a partner or another adult who is financially dependent
on them (cannot be an adult child)
• Full details can be found on: www.practitioners.slc.co.uk

Part-Time and 24+ Advanced Learning Loans

Part-time
• Tuition Fee Loan now available to new part-time students
• New Open University students now apply through SLC
• Up to max cost of fees: £6,750 (Relative to course intensity from 25% - 75%)
• Repayable once earning over £21,000
• Quick guide to part-time repayments available on Practitioners Website
• Application forms available to download from www.slc.co.uk/england

24+ Advanced Learning Loans
• To cover cost of fees for eligible courses at level 3 and above for new
learners aged over 24 from August 2013
• No previous study rules apply for new entrants to the system
• SLC will be administering the loans and repayment process with HMRC
• Details as they become available from http://skillsfundingagency.bis.gov.uk
• Providers of FE can find more details at http://www.lpservices.slc.co.uk

Student Finance Applications

The Home for Student Finance Information
www.gov.uk

Applications – Key Messages
• Apply early, apply online
• Student Finance registration page on UCAS
• Consent to share: helps with scholarship/bursary provision
• Only supply evidence if we ask for it – In first instance:
– Student identity checked using passport number supplied online and
verified through IPS
– Household income verified through submitted National Insurance
Number(s) via link with HMRC
• Check online account before calling to save time

Applications – Key Messages
• Students do not need a confirmed place, apply with first choice
of university /college
• Details can be changed online
• Students will be assessed for non means tested support if any delays in
receiving household income information
• If unsure of fee amount, select ‘maximum’
• Maximum fee loan will never exceed fees charged

Repayment Overview

Repayment Overview
• Graduates will not make repayment contributions until they are earning at
least £21,000 (£1,750 pm) gross
• This threshold will rise annually in line with inflation
• Full-time students will begin to repay in the April after graduating from or
leaving their HE course (From 2016)
• Part-time students can begin to repay in the April four years after they have
started their course (If earning over £21,000)
• Repayments will be a basic 9% of income over £21,000 and will be
deducted automatically from pay through the HMRC tax system for most
students

Repayment Overview
• If income falls to £21,000 or below repayments will be suspended
• Remaining loan balance cleared 30 years after entering repayment
process
• No penalties will be placed on early student repayments
• A student loan is very unlikely to affect your ability to get a mortgage
(The Council for Mortgage Lenders )
• Mortgage lenders are most interested in your monthly income
(Ability to repay)

Repayment Comparison
Gross Income
Old System
Monthly Repayment
New System
Monthly Repayment
£16,000 £1 £0
£18,000 £16 £0
£21,000 £39 £0
£24,000 £61 £23
£27,000 £84 £45
£30,000 £106 £68
£33,000 £129 £90
£36,000 £151 £113
£40,000 £181 £143
This year will see the first inflation linked rise in repayment thresholds for existing
students from £15,000 to £15,795

The Local Picture – South East

Working in Partnership
We recognise there are challenges across the sector:
• Loss of careers/HE advice infrastructure
• Increased demands on universities for outreach services
• Added pressure on schools and colleges to deliver services
• BIS Student Finance Tour targeting schools and colleges
• Maintaining and developing relationships with existing and emerging
partners now more important than ever!

BIS Student Finance Tour
• Not organised by SLC/SFE, although
“Student Finance Matters” branding is used
• Delivered by recent graduates recruited by
marketing company commissioned by BIS for
project)
• Student Finance England have helped with
training of presenters – not involved in delivery
• Student & parent engagement tour from
September 2012 – February 2013
• Further details: 0151 350 1532 or
student.finance@eventms.com

Student Finance Applications in the region
90000
80000
70000
60000
50000
40000
30000
20000
10000
0
21%
24%
21%
Late Applications
On-time Applications
2011/12
81,098 new
applications
2012/13
67,067 new
applications
(to 12th September)
Late Applications
!
24% Late in 2011/12
21% Late in 2012 (To Date)

Means Tested vs Non Means-Tested - South East
Non-Means Tested Means Tested Undetermined
90,000
80,000
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
2011/12
81,098 new applications
2012/13
67,067 new applications
(to 12th September)
48% of applicants applied for means-tested support in 2012 !

Supporting the South East
Engagement to Date:
• Staff Training and CPD for Kent EPB’s, Ifs School of Finance, Oxfordshire Post-16
Network, STEMnet, Canterbury college tutors and AOSEC
• Regular training and updates with WP/outreach, DSA and registry staff from
Portsmouth, Brighton and Kent universities
• Engagement with regional National Careers Service team
Planned Engagement:
• Continued training of ambassadors at regional universities
• Medway Youth Trust CEIAG Association Meeting/Learner Support Services
• Network /EBP /IOW colleges CPD training/updates
Future Engagement Targets:
• To be invited to regularly attend existing and new schools forums in the South East
• To be provided with updated contact within schools, colleges and universities
• To work with practitioners in doer to provide useful resources

Charmaine Valente
Student Finance Adviser - South East
charmaine_valente@slc.co.uk
07774 281 355
www.practitioners.slc.co.uk