Student Finance
This topic is one that can get everyones head in a spin - so we're on hand to demystify the full process! We want to make it clear that everybody has the opportunity to study at university. We know there's lots of misconceptions about the process, specifically around the terminology of 'loan' and 'debt'.
Shaping Futures are able to deliver a session on this topic if you feel that it is something your learners could benefit from. We're also able to talk learners through the application process when that time comes. Please contact your HEPA to find out more and arrange, or use our booking form to express your interest in a session.
Student Finance Explained
Let's start off by understanding what Student Finance is and how it works.
Student Finance England
When researching Student Finance, using reputable sites is essential. There's plenty of misinformation online that is easy to stumble across. Student Finance England manage the Student Finance process, so there information is correct and current. Other good sources of information are UCAS and The Money Saving Expert.
Student Finance Overview
This 2 minute video provides a breakdown of the key need-to-knows about Student Finance. Current university students share their knowledge and experience of the application process.
Applying for Student Finance
These videos will walk learners through the process, and the factsheets provide useful information to takeaway.
It's worth mentioning here that applying for Student Finance is optional, but the majority of people apply in part or full for the tuition fee and maintenance loan.
Also, figures for the amount of loan available and re-payment threshold change regularly, so it's best not to use personal examples when discussing Student Finance. If you or your learners have any questions it is best to contact Student Finance England directly:
How and When to Apply
Supporting Evidence
applying.pdfApplication Checklist
parentcarer guide.pdfParent/Carer Guide
Student finance faqs.pdfFAQ's
Applying for Additional Support
There are additional grants, bursaries and scholarships available for eligible students. Support offered could be financial, a reduction in fees, equipment or adaptions which do not have to be repaid. Below is some useful information to share with learners who may be entitled to this support.
Disabled Students Allowance
This support is available to learners who require additional equipment or adaptations to attend their course or placement at university or college. DSA provides support to learners with a spectrum of disabilities, learning differences and mental health conditions. Around 40% of eligible students do not apply for DSA each year, so it is crucial that teachers and advisors are aware of what is available and pass this message on to learners.
Student Finance England
A video explaining disabled students allowance.
Ability Net
Check to see if you are eligible for Disabled Student Support
NHS Bursaries
Certain subject areas may qualify for additional Government bursaries.
Financial Support
Check the criteria for scholarships and bursaries at the university you are interested in attending.
Budgeting
When learners arrive at university they will need to learn to budget to ensure that the money they have lasts them to the end of term. This interactive resource helps learners to consider what things they will be spending money on at university and provides them with essential budgeting skills for their future.
Budget workbook.pdfBudgeting Skills Workbook
This activity will guide learners through the Student Finance process. They will get an idea of how much money they will be entitled to at university and will then need to decide how they should spend it.
They will need to consider how much they are willing to spend on accommodation, food and their social life. How much money will they be left with at the end of term?
Parents & Carers
Whilst learners receive support with understanding Student Finance through school or college, care-givers can be left in the dark about the process. This short video aims to demystify the process and can be shared with guardians.