The Studentship budget figures, which includes London Allowance, are used for all UCL hosted studentships where they are registered at the institution for a minimum continuous period of 12 months.
For students that do not meet the criteria above for London Allowance, (funded by external funders awarded to UCL, but not registered at UCL, or other London-based institutions) the stipend in the Budget calculations should be reduced by £2k per annum to the National minimum stipend.
N.B. Year 1 is the actual stipend and fee for that academic year - the follow-on years are estimates.
The maximum stipend to be paid to research students at UCL is the Wellcome Trust stipend rates inclusive of London weighting for the relevant year of training/project, for the purposes of tax. This is frozen at the 2013 rates at this time.
Each year EPSRC Vacation Bursaries are available to support a number of undergraduate summer research placements.
A Student budget archive is available.
The fee for UKRI funded students can be either:
- Fully recovered from the UKRI award (except research council Project-linked studentships).
- The UKRI nominal fee recovered from council and the difference (currently £720 in 2017/18) charged to another external source of funding (such as Industry, Charities and other awards where the case for support indicated that sector funding would be sought to contribute to the Centre resources).
- The UKRI nominal fee recovered from council and the difference charged to a UCL internal account (having discussed and agreed this with the Head of Department and School Finance Director).
Regardless of which options is chosen – you must recover of the full annual UCL fee.
The preferred options are either 1 or 2.
The third option should only be undertaken in rare cases where it can be shown that it would be exceptionally difficult to raise funds from elsewhere. Where collaboration is a cornerstone of the proposal (sector support for bid) this would not normally be agreed.
It should be noted that to-date UCL recovery of the full fee from council funded training grants has been achieved for 95% of studentships through transfers within budgets and that the majority of the awards have been within budget at the grant end-date.
Things to consider in your budget
- How long is the studentship (3-year; 3.5 years or 4 years).
- Is this a collaborative studentship and therefore additional costs of travel and subsistence will need to be factored in.
- What access to equipment, consumables will be required for the intended project.
- Does this project involve overseas visits
- Is a period of internship to gain sector experience involved
Finalise the budget
- Commence recruitment process
- Ensure you know where the studentship funding is located (account codes) for the duration of the studentship.
Administrators Best Practice
- Note all of your studentships on an Excel Spreadsheet (Student, Supervisor, Sources of Funding (EPSRC, ARUP), account codes and budgets and dates of studentship).
- Ensure that you have access to the UCL MyFinance system.
- Liaise with Research Studentships and Research Services Contracts as required to ensure that the studentship commences on time and is adequately funded.
- Before submitting the Form S check the budget on the financial system and for Research Council students that the UKRI Je-S student record end-date ‘Researcher Training Dates’ is correct.