Student Finance

STUDENT FINANCE 2022/23

uos.ac.uk

Everyone has heard about fees and loans, but how much will you really have to pay and how much can you borrow?

Knowing about your own student finance is a good way of preparing for uni life.

Tuition Fees

Full-time fees at the University of Suffolk are £9,250 for Bachelor degrees and £8,220 for Foundation degrees.

UK students starting their first degree can apply for a Tuition Fee Loan and Maintenance Loan through Student Finance England.

Tuition Fee Loans mean no fees have to be paid up-front.

Tuition Fee Loans cover the full amount of your tuition fees and are paid directly to your university. They are not income assessed.

90

%

of our graduates in work or further study fifteen months after graduating* *according to the lastest Graduate Outcomes survey conducted by HESA in 2020.

Maintenance Loan

A Maintenance Loan helps towards your living costs.

The amount you receive is based on where you will live and study and your household income.

The Maintenance Loan is paid to you directly in three termly instalments.

As with any loan your Tuition and Maintenance Loans will accrue interest.

Please refer to Student Finance England for more details at gov.uk/student-finance Other support is available for specific circumstances, such as the Disabled Students’ Allowance, Childcare Grant, Adult Dependants’ Grant and Parents’ Learning Allowance.

Full-time student

Maintenance Loan*

Living at home

£7,987

Living away from home, outside London

£9,706

Living away from home, in London

£12,667

*Accurate for 2022/23 entry. Per academic year. Based on a household income of £25,000 a year or less.

Repayments

Loan repayments only begin when you have finished university and when you are earning £27,295 a year.

Payments will normally be deducted from your salary just like tax and national insurance.

The amount you pay is fixed at 9% of any earnings over £27,295.

Loan repayments will automatically stop if you stop working or your salary drops below £27,295.

Any loan balance still outstanding 30 years after you leave university will be wiped out.

Student loans do not affect your credit rating or the ability to get a mortgage, but lenders may ask about your repayments to confirm affordability for a mortgage, etc.

Income

Monthly repayment*

£27,295

£0

£30,000

£20

£35,000

£57

£40,000

£95

£45,000

£132

£50,000

£170

*Accurate for 2022/23 entry.

Financial Support University of Suffolk Bursary Successful applicants will receive a £500 bursary in each year of study. Students are required to meet the following criteria: Studying a full-time undergraduate degree programme.

Assessed through Student Finance England as having a household income of £25,000 or less.

Living in the United Kingdom.

Care Leavers Bursary Available for students who live or have lived in local authority care. The bursary is £500 for each year of undergraduate study.

Find out more at uos.ac.uk/financial-support

For more information To find out about your eligibility for the Tuition Fee Loan, Maintenance Loan, and other Student Finance England support go to gov.uk/studentfinance You can also book an appointment via the Student Centre to talk about your entitlement to financial support.

Contact studentlife@uos.ac.uk Go to gov.uk/studentfinance to complete an online calculation and find out how much you could be entitled to.

Please note these figures are for illustrative purposes only and are subject to change depending on government policy.

Find out more uos.ac.uk/finance