The radical overhaul to English student finance in 2012 caused myths, panic and confusion. With headlines still screaming about graduates lumbered with £50,000 debt, many sixth-formers would be forgiven for being scared. Yet this new free 'How to answer questions about student finance 2014' teachers' booklet is here to help.
The guide is provided by MoneySavingExpert.com and Universities UK and is crucial reading for anyone considering going to uni in 2014.
Teachers / Parents / Universities:
Feel free to print and distribute this guide. Also see the free teachers' uni fees booklet.
Watch or listen to the audio and video guides
Click the button to see each of the video and audio guides...
Student Finance 2012 Video Guide
Filmed in front of parents and potential students at UCL, Jun 2011.
Listen to Martin explaining the changes on BBC Radio Five Live's Shelagh Fogarty show. Click on the player below to listen (13:15).
What's in the booklet
your job helping your
students pick the right exams,
and you’re hoping they'll get the
best results they can. But there is another
hurdle for teachers with students wanting to
go to university – the increase in tuition fees.
1. Can students still afford to go to uni?
The maximum loan combining tuition fees and maintenance is £16,751 a year, or £50,000 over a three-year course – a scary sum. Yet that figure is mostly meaningless; student loans are one of the very few areas where the price tag bears little resemblance to the real cost.
2. Loans, grants and bursaries
There's a range of financial support out there for those wanting to go into higher education. This falls into two main categories: Government support and direct money from universities and colleges. The amounts available often depend on household income (usually the parents' income, but it can be the students' in some circumstances).
3. How much will they need to repay?
Students starting at English universities in 2014 could graduate with loans of anything up to £50,000 if they take both tuition fee loans and maintenance loans. However, no matter how much they take out in loans, they’ll pay the same back each month.
4. How much will it actually cost?
This is the crucial question and it's one of the many fears that are unnecessarily putting students off going to university. The actual answer is different for everyone, but this section contains three points to help you explain it.
5. Student questions and answers
Important questions that students may ask and how to answer them, including "Why has the system changed?" and "Is university worth the cost?".
A list of key contacts to help with all aspects of student finance.