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Money Matters for Full-time students
Wakefield College: Low fees, high quality teaching
At Wakefield College we believe that pricing people out of higher education would devalue our institution by not allowing such a diverse range of students to continue their education.
Our tuition fees for 2012 will be substantially less than most universities. This means that, all our full-time higher education students will have significantly less to pay back once they have completed their studies and are in work.
According to research released by the Association of Colleges (AoC), Higher Education college students are graduating with an average of around £17,500 less debt than their university counterparts.The combination of greater opportunities to work part-time while studying, the ability to live at home and reduced travel costs are key factors in minimising the overall debt levels of students studying for a degree at Wakefield College. With most universities charging the full £9,000, the savings gained by studying at Wakefield College could be substantial.
Our excellent year on year results in the National Student Survey indicate that the quality of the teaching experience at Wakefield College is not affected by our commitment to low fees. Indeed, our HE students rate their overall experience more highly than that of students at the majority of the bigger regional universities.
Full time course funding
Full time students who are studying for their first degree or other higher education course can benefit from a range of financial support including:
No upfront costs
You don’t have to pay upfront for your course yourself. You can get a loan to cover the cost of your tuition, which you only start to pay back when you are earning over £21,000 a year.
Loans for living costs
Available to help with living costs such as food, accommodation and travel. A loan of up to £5,500 will be available if you live away from home and study outside London. A loan of up to £4,375 will be available if you live with your parents.
Non-repayable grants
Available to help with living costs such as food, accommodation and travel. If your household income is up to £25,000 you will be entitled to a full grant of £3,250, which you won’t have to pay back. If your household income is between £25,000 and £42,600 you would be entitled to a grant of between £50 and £3,250 which you won’t have to pay back. Look at the table below to find the kind of support on offer to students living away from home and studying outside London. Figures are based on household income.
How loan repayments are expected to work
You only start to pay back when you are earning over £21,000 a year. You repay 9% of your income above £21,000. So for example, if your salary was £25,000, the 9% would only apply to £4,000, meaning you would repay £30 per month.
The table below shows some salaries and typical repayments. If your salary falls below £21,000 your repayments stop - for example if you take a career break or become unemployed. Repayments only start again when you earn over £21,000.
will be deducted
Loan repayments will be deducted from your salary, normally through the tax system. If you have not repaid your loan after 30 years it is written off. For further information about all aspects of student finance both full and part-time and how to apply for it, go to: www.direct.gov.uk/studentfinance
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