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Financial Support

We understand that financial considerations are an important part of the university application decision-making process and we are here to offer support, advice and guidance.

As a student at the Yeovil College University Centre, you may qualify for financial support. Undergraduate students can apply for a student loan to help pay tuition fees and/or a Maintenance Loan to help with living expenses.* 

You need to think about both tuition fees as well as living costs. A huge benefit of studying within our dedicated University Centre in Yeovil is that we are local, and therefore in most cases, additional living costs may not be a concern.

*Exemptions apply

Government Maintenance Loan

There is a maintenance loan available for full-time students from the Government through Student Finance England to support you with living costs such as rent and bills.  The amount you can borrow will depend on where you live, study and your annual household income.

You can also apply for a reduced rate of maintenance loan if you are studying a part-time, full degree (e.g. BA Hons English with History). Eligibility depends on the ‘intensity’ of your part-time course being at least 25% of a full-time course. For example, if your course takes six years to complete and the full-time equivalent takes three, the intensity will be 50%.

Your Government Maintenance Loan will be paid directly into your bank account at the start of every term.

You can apply for the loan at https://www.gov.uk/apply-online-for-student-finance (hyper link) or on your UCAS application form.

Grants

If you are studying full-time, then you may also be entitled to a means-tested grant. These are different to student loans and you do not need to repay them.

Maintenance Grant: to help pay for your living expenses;

Childcare Grant: to help pay for costs associated with looking after children under the age of 15 or

under the age of 17 if they have special educational needs;

Parents’ Learning Allowance: for students with dependent children, not necessarily paying for

childcare.

Extra help

If you have adult or child dependents living with you, then there is extra help in the form of a Dependents Grant available for students studying full-time. The amount depends on your household income and you apply for this at the same time you apply for your maintenance loan.

http://media.slc.co.uk/sfe/quickStartFinanceGuide/home.html

Disabled Students’ Allowances (DSAs)

DSAs are grants to help pay the essential extra costs you might have as a direct result of your disability, including a long-term health condition, mental-health condition or specific learning difficulty, such as Dyslexia or Dyspraxia. You don’t need to pay these back.

http://media.slc.co.uk/sfe/quickStartFinanceGuide/disabled-students-allowances.html

It is important to check out your entitlement with your funding body (Student Finance England) before you start your course and become liable for fees.

Information is available at http://www.hefce.ac.uk/lt/elqs/, https://www.gov.uk/student-finance/overview, and https://www.gov.uk/student-finance/who-qualifies  insert as hyper links

Our tuition fees for full-time undergraduate students depend on the level and qualification you are studying. Students can choose to pay their tuition fees upfront or alternatively, take out a Tuition Fee Loan, which will defer repayment until individuals earn over £25,000 per year after the year of graduation.

Yeovil College’s University Centre tuition fee for new full-time UK and EU students studying a Foundation Degree, Honours Degree (Top-Up) or three-year Honours Degree is up to £9,000 per year.

Payments are deducted via your tax code, however, if your income stops or falls below the threshold, then your payments will also stop. They will follow the patterns of your income/salary.

Any outstanding payments still owing after 30 years will be cancelled.

Students can also opt for a pay as you go model, allowing them to spread the cost over the duration of the qualification. If you’d like to spread the cost of your study, contact our team to find out how you take, learn and pay for one module at a time.

You can apply for student finance by registering your details at gov.uk/studentfinance or via your UCAS application form. If you do not wish to take out a student loan or you’d prefer to spread the cost of the payment, please talk to our University Centre team on 01935 845454 or email university.centre@yeovil.ac.uk

When will I start paying back my loan? (open up)

You will start repaying your loan when you earn over £25,000 per year

How do I pay back my loan? (open up)

You will pay 9% of your income above £25,000, so for example, if you earn £30,000, you would only pay 9% of the difference i.e. £5,000. This would cost you only £37.50 per month.

How do I pay the loan back? (open up)

The loan repayment will be deducted directly from you salary.

What happens if my income reduces? (open up)

You will stop paying your loan repayment until your income exceeds £25,000 again.

Loan repayment costs (open up)

Loan repayment costs

 

For more detailed information about our fees and funding, all our policies are available below:

Sponsor Declaration

Fees Policy 2018-2019 and 2019-2020

Higher Education Tuition Fees for 2018-2019

Payment Form