Bath Spa University

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Student Finance 2012/13

Are You Applying to Start in 2012?

There are a number of changes to student funding for 2012, the following provides a summary and this link will take you to further information.

• Only students applying for a course that begins in 2012 will be charged the higher fees.
• You don't have to pay fees up front. Instead, you can take out a loan from the Student Loans Company.
• You can also take out a loan to help towards your living expenses and you may be eligible for a grant.
• There are tuition fee loans available for part time students.
• You don't start to pay back student loans until the April after you graduate.
• Repayments for student loans start when you are earning over £21,000 a year.
• You will only need to pay back 9% of your earnings over that £21,000. For example, a graduate earning £25,000 a year, will repay their student loans at £30 a month.
• The repayment is deducted through PAYE, that is, through your wages.
• If your income falls below £21,000 a year, repayments stop.
• The debt is written off after 30 years.
• The debt doesn't go on your credit file. It shouldn't affect your ability to get a loan, credit card or mortgage.
• Compared to the current system, all graduates will be £540 per year better off!

Tuition Fees at Bath Spa for 2012/13

Bath Spa University tuition fees are to be increased to £9,000 for full time undergraduate courses and between £6,000 and £7,800 for foundation courses, this will occur from 2012/13, and only for new entrants. The cost of tuition will be met from a student tuition fee loan which students will only start to repay once they have left their course and are earning over £21,000.

Continuing students in 2012/13, including Bath Spa students who without a break from a foundation degree continue into their third year of an honours degree, will not be subject to the new fee regime. However it should be noted that places are limited and may therefore have to be awarded according to academic merit.

For all PGCE teacher trainers it is anticipated that for new entrants in 2012/13, the tuition fees at Bath Spa fees will increase to the maximum permitted under new fee arrangements if government funding currently provided for each PGCE student is withdrawn. However the government has not yet announced its proposals for PGCE funding beyond 2011/12.

Please note that the University does not expect to significantly change existing fee structures for post-graduate courses, other than for PGCE from 2012/13.

What Funding is available for 2012/13

Details are still being finalised as to what funding will be available, this link provides the most current information available.

http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/DG_194804

For further information, please click on the link below

http://www.moneysavingexpert.com/family/student-loans-tuition-fees-changes

Part time students

From September 2012 new part-time students can apply for a tuition fee loan up to £6,750. This is not means-tested on the level of your household income.  

To be eligible for this funding your part-time course must be at least 25 per cent of a full-time course.  

Apply on-line for all student finance at: www.direct.gov.uk

Further Information

The Independent Taskforce on Student Finance Information is headed by Martin Lewis of MoneySavingExpert.com . They are dedicated to explaining the 2012 changes to student finance in England and the implications of those changes, to ensure people understand how the new finance package works before they make a decision as to whether they can afford to go to university.

For more information please go to:   http://www.studentfinance2012.com/index  

             www.thestudentroom.co.uk/studentfinance