From 2012, major changes are being made to funding arrangements for UK higher education affecting UK and EU students. Read on to find out what these changes will mean for you.
The main features of the new fee and financial support arrangements are as follows:
- No up-front fees; tuition costs will be paid by a government loan;
- Loan repayments are made only once you have left university and are earning over £21,000pa;
- UCL's fees set at £9,000 for undergraduate programmes (in common with most universities);
- A wide range of financial support provided to help with tuition fee and living costs for students from lower income backgrounds; this includes the Government's National Scholarship Programme;
- Studying part-time? You will be eligible for loans to cover fees, but you will not be eligible for maintenance loans or grants.
To ensure that UCL’s tradition of welcoming the best from all sections of society is upheld, we have developed an ambitious and innovative Access Agreement which has been approved by the Office For Fair Access (OFFA).
WHO DOES THIS AFFECT? You are only affected by the new arrangements if you start university after September 2012. (Funding arrangements may vary for those degrees funded by the NHS and for students resident outside England)
You will find answers to come of the most frequently-asked questions about the new fee arrangements here. If you have any other questions, please look at the "Links" section of this website, or email study@ucl.ac.uk
I'm applying for 2012 entry; will I have to pay fees upfront?
No. The Government will provide you with a loan to pay fees costs. You only repay the loan after you have left university and are earning a certain amount (£21,000 for 2012 entrants).
I'm applying for 2011 entry - will I be affected?
No. The changes only affect students who start their degree in September 2012. Also, if you have already started your degree you will not be affected by the fee increase in your later years of study. The annual tuition fee will remain at the same level for current students and students starting in 2011, but will be increased by a small amount (linked to inflation) each year. This is set by the Government and details will be published on our website.
I applied in 2011 for deferred entry in 2012 - will I have to pay higher fees?
Yes. The new fee arrangements apply from 2012 entry for all students starting their degree programme in that year.
I am a current UCL student - will these changes affect my fees or repayments?
No. Students who have started their degree programme before 2012 will not be affected by these changes.
I'm an international student - do these changes affect me?
No. These changes only affect students from the UK and European Union. Fees and financial support arrangements for international students are decided by universities and we will be setting our fees for 2012 in summer 2011.
What are the arrangements for part-time students?
The fees and financial support
arrangements are changing for part-time students. The two most significant
changes are that:
- Students on most programmes will no longer
have to pay their tuition fees up front.
- Loans for tuition will be extended to eligible part-time first-degree students who complete a minimum of 25% of the full-time course load per year (30 credits or more).
Please note that part-time students are not eligible for maintenance loans or grants.
How much will I repay, how, and when?
You will only start to repay your tuition and maintenance loan after you have left higher education and are earning at least £21,000. This £21,000 threshold will increase in line with earnings from 2016 onwards. If for any reason your income falls below £21,000 your repayments will be suspended, for example if you take maternity leave.
The amount repaid each month will depend on your earnings - repayments will be 9% of your income above £21,000.
- The amount you repay each month will be the same, regardless of how much you have borrowed.
Example
If you are earning £21,500 – the current salary of a newly-qualified teacher – you would initially make repayments of £4 per month. The monthly repayment would increase to £23 for if you earn £24,000 per year; £30 for a salary of £25,000; £45 for £27,000; and £68 for £30,000.
Loan Repayment Calculator
Use the Loan Repayment Calculator developed by the Dept for Business Innovation and Skills to work out the likely cost of your repayments.
Making repayments
Repayments will be deducted automatically from your pay packet through the tax system.
Interest rates
- Interest on your loan will be charged at inflation plus 3% while you are studying, and up until the April after you leave university.
- From the April after you leave university if you are earning below £21,000, interest will be applied at the rate of inflation.
- If, after you leave university, you earn between £21,000 and £41,000 you will be charged interest on a sliding scale up to a maximum of inflation plus 3%.
- If, after you leave university, you earn above £41,000 you will be charged interest at the full rate of inflation plus 3%.
- All outstanding repayments will be written off after 30 years.
More information
For further information go to www.direct.gov.uk/studentfinance
What is in the Access Agreement? What financial support will be available?
UCL’s Access Agreement has now been agreed by the Office For Fair Access (OFFA). The full agreement is available on the UCL Access Agreement 2012-13 website:
A summary of the main points of the Agreement is set out below.
- tuition fees for UK/EU undergraduate students to be set at £9,000 from 2012/13
- an anticipated 30% of additional tuition fee income to be spent on access measures equating to approximately £8.2 million per year when fully implemented. Approximately £7 million of additional tuition fee income to be spent on financial measures and £1.2 million on outreach activities
- long-term engagement and outreach with the school sector through the UCL Academy in Camden
- continuation of current successful outreach activities and the introduction of a range of new activities, including targeted sustained activities aimed at increasing the number of students from disadvantaged backgrounds studying at university level and, in particular, at UCL
- challenging targets and milestones covering applications, student intake, progression and outreach activities that will move UCL further in the direction of wider social inclusion and reflect our own distinct ethos of openness
- effective evaluation and monitoring to ensure that activities remain focused on outcomes
- clear and transparent information available for prospective students on programmes of study and the finances for studying at UCL.
Full-time students from families with incomes below £25,000 may be entitled to a grant from the Government (which is not repayable) of up to £3,250 towards living costs such as food, accommodation and travel. Students from families with incomes up to £42,000 will be entitled to a partial grant.
Loans for living costs (which are repayable) are available from the Student Loans Company for all eligible full-time students.
REMEMBER: Tuition fees from 2012 will not have to be paid up front. The Government will provide students with a tuition fee loan. There will also be a range of financial support available for students including non-means-tested loans to help with living expenses, plus means-tested grants and scholarships.
How will the additional fee income be used by UCL?
- 30% (approximately £8.2 million) of the additional income raised will be spent on providing support for students from lower income backgrounds to ensure they are not deterred from applying to UCL. This includes approximately £7 million for financial measures and £1.2 million for outreach activities.
- The additional income will allow an appropriate level of investment to maintain and enhance the student experience at UCL – this includes our high academic standards, our libraries, teaching laboratories, IT and other essential facilities upon which students rely.
- Much of the additional income will help UCL recover from the loss of government grant.
National Scholarship Programme (NSP)
The National Scholarship Programme is designed to benefit individual students from disadvantaged backgrounds directly as they enter higher education. It will apply to students entering university from autumn 2012.
The programme is administered by the Higher Education Funding Council for England on behalf of the Department for Business, Innovation and Skills, which sets the overall policy and funding level. It will provide a direct benefit to individual, eligible students.
Full details available on the HEFCE website.
UCL Undergraduate Bursary and the National Scholarships Programme
New Students – First entry year 2012 cohort
From academic year 2012/13, UCL will introduce a new bursary scheme for eligible undergraduate students entitled the UCL Undergraduate Bursary. This scheme will incorporate the Government's National Scholarships Programme (NSP) with UCL more than matching the government allocation to provide additional bursary support for students.
For academic year 2012/13 there will be 230 NSP awards available at UCL and these will only be applied to certain groups of students who meet the Government's eligibility criteria.
However, here at UCL we will ensure that all students who meet the NSP criteria or UCL’s Undergraduate Bursary eligibility criteria will receive an award.
Eligibility:
- All full-time UK/EU students who submit an application for income assessed student support (including those provided in Wales, Scotland, and Northern Ireland or via the NHS Grants Unit) where assessed household income is £42,600 or less will be eligible to receive a UCL Undergraduate Bursary.
- All part-time UK/EU students studying at a level of at least 25% of the full-time equivalent will be eligible to receive a bursary, provided that their household income is £42,600 or less.
Value: Benefits/Duration
In their first year of study only all eligible full-time and part-time 2012 cohort students will receive a bursary at one of the following rates –
Band 1A
Students whose household income is £25,000 or less and who are living in UCL Student Residences* will each receive:
- An accommodation bursary of £2,000, plus
- A cash bursary of £1,500 (this includes a £500 UCL top-up)
Band 1B
Students whose household income is £25,000 or less and who do not live in UCL Student Residences* will each receive:
- A cash bursary of £3,500.
Band 2
Students whose household income is between £25,001 and £42,600 will each receive:
- A cash bursary of £1,000
Part-time students will receive a pro-rata amount based upon their intensity of study.
From the second year of study onwards all eligible students will each receive the following bursary:
Band 1
Students whose household income is £25,000 or less will each receive:
- A cash bursary of £3,500
Band 2
Students whose household income is between £25,001 and £42,600 will each receive:
- A cash bursary of £1,000
Please note that if your household income changes after your first year of study then so could your entitlement to the level of bursary you receive. Part-time students will receive a pro-rata amount based upon their intensity of study each year.
Application Process
Full-time Students Only
For full-time students, UCL will use the household income data provided by the Student Loans Company and during the first year of study only your term-time address to assess student eligibility. There is no separate application form for the UCL Undergraduate Bursary; provided that you do not opt-out of sharing you household income data you will be assessed for a bursary.
Once you have applied to study an undergraduate course at UCL, you can then apply for help with your tuition fees and living expenses – for more information and to apply online visit the Education and Learning section on the Direct Gov website.
Part-time Students Only
Part-time students – once you have submitted your application to study or change your method of attendance at UCL you should email studentfunding@ucl.ac.uk and request a UCL Undergraduate Bursary Application Form.
Additional Information
All eligible students, including those benefiting from the National Scholarship Programme, will continue to be eligible to apply and/or be considered for those faculty and department specific bursaries/scholarships that UCL currently offers to which academic criteria are normally attached. Students struggling with their finances are also able to apply for assistance from UCL Hardship Fund, which assists students who find themselves in hardship during their studies.
Most full-time students are not allowed to claim state benefits, but there are important exceptions including disabled students and lone parents. If you are in doubt about your eligibility for these or other benefits, you should contact the UCL Union's Rights and Advice Centre or refer to the Money, Tax and Benefits section on the Direct Gov website.
*UCL Student Residences – for bursary eligibility these are defined as either a UCL Halls of Residence or a UCL Student House and do not include Intercollegiate Halls or private providers. If you believe you are eligible for a UCL Accommodation Bursary, please ensure you apply for a place in either a UCL Hall of Residence or a UCL Student House.
Below are some links that you may find useful:
- studentfinance-yourfuture.direct.gov.uk - UK Government information site about student finance for 2012 entry
- www.direct.gov.uk/studentfinance - advice from the UK government about loans and grants, and other financial information for UK students
- www.offa.org.uk - the UK Office for Fair Access
- www.moneysavingexpert.com/family/student-loans-tuition-fees-changes - independent advice from moneysavingexpert.com
More links to general information about student finance can be found in the online UCL Undergraduate Prospectus.
Martin Lewis - Student Finance 2012: Busting the Myths
Martin Lewis from Moneysavingexpert.com and Head of the Independent Taskforce on Student Finance Information discusses the new funding and fees arrangements at UCL's Open Day on 30 June 2011
Page last modified on 18 jul 11 16:35
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