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Financial assistance for part-time HE students

Funding your Part Time University Level course 2015/2016


If you started your course after 1st September 2012.

What funding is available to help me?

Tuition Fee Loans
If you are starting a part-time degree after 1st September 2012, you can apply for a Tuition Fee Loan to help cover the costs of your course.
The loan will be paid directly to the College to cover the cost of your course fees meaning there are no upfront costs for you to pay. The loan will then be repaid after you have completed your course.
Tuition Fee Loans are available up to the cost of your course fee and a maximum of £6,750 per year.
Please note: students who started a course before 1st September 2012 but have returned to study following a gap year, or who have changed their mode of study part way through their course (i.e. part time to full time or vice versa) may also be eligible to apply for a Tuition Fee Loan.
How do I qualify for student finance?

How and when should I apply?

How do I know if I am successful and when do I receive funding?
Once the student loan company have finished assessing your application you will receive an allocation letter detailing the payment plan. Your fees will be paid direct to the college or university that you are studying at. 
When do I have to repay?
Repayments for Tuition Fee Loans will start after you have completed your course and are in employment earning over £21,000 per year.
Unlike a commercial loan, how much you repay is determined only by your income. Below is a guide to approximate monthly repayments. If your income falls below £21,000 then repayments will stop.


Earnings per year before Tax

Monthly Earnings

Approximate monthly repayment

Up to £21,000

£1,750

£0

£24,000

£2,000

£22

£27,000

£2,250

£45

£30,000

£2,500

£67

£33,000

£2,750

£90

£36,000

£3,000

£112

£40,000

£3,333

£142

The government has agreed to write off any loans outstanding after 30 years.
Students should also be aware that these loans are not counted in your credit rating, so will not affect students applying for future loans and mortgages. A bank will be aware that you have a loan by your repayments but will not know how much.

What interest rate will I pay?

Tuition Fee Loans accrue interest from the date they are paid, until they are repaid in full. Interest is charged at RPI (retail prices index) plus 3% while studying. From the April after you complete your course, you will start paying RPI plus 3% once you are earning over £21,000. If you don’t earn that much, interest is just the RPI rate.
Disabled Support Allowance (DSA)
If you have a disability, illness or learning difficulty you may be eligible for additional financial support from the DSA for:

Please note that financial support in these areas is not available directly from the College and applications must be made to the DSA. How much you receive from the DSA is dependant upon your individual circumstances but is not based on your household income.
DSA payments may be paid direct to the student, or suppliers of the specialist equipment or support, depending on what support you are receiving.
Bursaries
As a part-time student you may also be eligible to apply to the college for additional financial help or be considered for the Wiltshire College Bursary Scheme.  
Wiltshire College Bursary Scheme
The Wiltshire College Bursary Scheme has been introduced to help people from low income households who are studying their first year of a full-time or part-time Higher Education course.
To be considered for the award you will need to:

Students who are not eligible for the awards include:

How much is an award worth? 
Awards are a maximum of £1,000 but are dependent on the cost and intensity of your course.
Will the award affect any benefits I am receiving? 
We advise you to check with the Benefits Agency if receipt of an award will affect any entitlement to benefits you are receiving.
Do I have to repay the awards?
The Wiltshire College Bursary is non-repayable award.  If you leave the course earlier however, we will review your eligibility and future payments will cease.
How and when should I apply?
You will be able to apply for the Bursary once you have been offered a place to study on a Higher Education course at Wiltshire College.  A form will be sent to you with your Joining Instructions in July 2015. Completed forms should be returned to the address below by the 31st October 2015.
HE Admissions Office
Wiltshire College Lackham
Lacock
Chippenham
Wiltshire
SN15 2NY
Panel Decision
Final allocation of bursaries is made by a panel and will depend upon a number of factors.  Priority will be given to:

Meeting the additional criteria listed above does not constitute entitlement to an award and all assessments are subject to the availability of funds.
To appeal against panel decisions please write to:
Director of Student Services
Wiltshire College Lackham
Lacock
Chippenham
Wiltshire
SN15 2NY
or email: HEAdmissions@wiltshire.ac.uk
If students do not receive an award they may still apply to the Access to Learning Fund for financial support.
Access to Learning Fund (ALF)
The access to learning fund is available to students who run into financial hardship during their course. The fund available is very limited and as such only a small number of applications can be accepted. Students are advised to speak with the Customer Services Team if they feel that they may need support from the ALF.

 

Want to know more?

An Independent Taskforce on Student Finance Information was launched in June 2011 headed by Martin Lewis of MoneySavingExpert.com, deputised by Wes Streeting, NUS President 2008-2010, and made up of groups including Universities UK, the NUS and UCAS.
This downloadable pdf guide is aimed at helping students and parents understand the true cost of full-time Higher Education study in England from 2012.
Areas of Additional Support
If you are not eligible for funding via the Student Loan Company, there are a number of other funding sources that may offer financial support while you are studying.
Charitable Grants, bursaries and Scholarships
You may able to get additional help through charities, such as the Prince’s Trust, or Shuker Education Fund.  Family Action provides a useful search engine for students to enable them to search for charities that may be able to help them. http://www.family-action.org.uk/section.aspx?id=21213
You can also use Scholarship Search to discover any scholarships that may be applicable for you; http://www.scholarship-search.org.uk/
Career Development Loan
Professional and Career Development Loans are bank loans to pay for courses and training that help with your career or help get you into work. You may be able to borrow between £300 and £10,000.
Loans are usually offered at a reduced interest rate and the government pays interest while you’re studying. More information can be found here; https://www.gov.uk/career-development-loans/overview
Government Benefits
As a part-time student, you may be eligible to continue receiving any benefits that you currently receive. We advise that you discuss your circumstances with the benefits agency. 



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