Money to study – a guide to funding your Nursing studies.
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Money to study – a guide to funding your Nursing studies by the University of South Wales Student Money Advice Team
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Money to study – a guide to funding your Nursing studies.
- 1. © University of South Wales Money to study – a guide to funding your studies. Student Money Advice Team
- 2. • Tuition fees • Support for living costs • Additional allowances • Clinical placement costs © University of South Wales Funding 2016
- 3. Tuition Fees will continue to be paid by the NHS for nursing and midwifery courses © University of South Wales Tuition Fees
- 4. Non means tested grant of £1,000 Means tested bursary of up to £3,903* Non- means tested maintenance loan of up to £2,634 Means tested additional allowances for students with dependants *maximum for those studying 45 weeks per year © University of South Wales Support for living costs
- 5. Means-tested against parents, spouse or partners income. Nursing & Midwifery courses at the University are usually 42 and 45 weeks duration: Elsewhere rate: up to £3,651 (nursing) up to £3,903 (midwifery) Parental Home rate: up to £2,879 (nursing) up to £3,047 (midwifery) © University of South Wales Means Tested NHS Bursary
- 6. * Rates assume an academic year of 42 weeks . If more £84 p/wk elsewhere, £56 p/week home © University of South Wales Means Tested NHS Bursary Residual Income Parental home rate* Elsewhere rate* Under £24,279 £2,879 £3,651 £27,500 £2,495 £3,267 £30,000 £2,232 £3,004 £35,000 £1,706 £2,478 £40,000 £1,180 £1,952 £45,000 £653 £1,425 £50,000 £127 £899 £55,000 0 £373 £60,000 0 0
- 7. Not means-tested © University of South Wales Maintenance Loan If normally reside in Wales If normally reside in England Parental home rate £2,272 £1,863 Elsewhere rate £3,030 £2,483
- 8. Repayment of Loans Repayments start once earning £21,000 per year Interest is based on Inflation Rate plus 3% Annual Income Less than £21,000 £25,000 £30,000 £35,000 £40,000 Monthly repayments Nil £30 £67.50 £105 £142.50
- 9. Dependants allowances (means tested): • Spouse or other adult dependant, OR £2,448 yr First child (if there is no adult dependant) • Children £549 yr per child • Parents Learning Allowance £1,204 yr © University of South Wales Additional NHS allowances 16/17 rates
- 10. Childcare grant (means tested): Can cover 85% of registered childcare costs: • £128.78 per week towards costs for 1 child • £209.95 per week towards costs for 2 or more children Disabled Students Allowance (not means tested): Help to apply for DSA available from Disability & Dyslexia Service © University of South Wales Additional NHS allowances 2016/17 rates
- 11. • Students may be able to receive assistance with clinical placement costs. • This is means-tested (via bursary assessment). • Submit claims for assistance through the University once studying. © University of South Wales Clinical placement costs
- 12. NHS bursary, grant and additional allowances: You can apply online at http://www.nwsspstudentfinance.wales.nhs.uk/boss Guidance and information on application process is available at: http://www.nwsspstudentfinance.wales.nhs.uk/home Maintenance loan: Apply for maintenance loan through your Local Authority or Student Finance Wales/England Student Finance Wales Student Finance England www.studentfinancewales.co.uk www.gov.uk/student-finance© University of South Wales Applying for funding
- 13. Council Tax • As a full-time student, you may be entitled to council tax exemption or a 25% discount Tax credits • Can claim tax credits (if normally eligible) Hardship Fund • Discretionary help from the University for students who need additional financial assistance • Any assistance given is usually in the form of a grant • Apply once enrolled and funding is finalised © University of South Wales Other financial information
- 14. For Information, Advice & Guidance: Tel: 01443 483778 (Mon – Fri, 9.00 – 12.00) Email: money@southwales.ac.uk Web: http://www.southwales.ac.uk/money/ © University of South Wales Student Money Advice Team
Editor's Notes
- This presentation is applicable to: UK ‘home’ students Undertaking a nursing or midwifery course at the University Starting in Sept 2016 or March 2017
- You may have heard on the news about changes to funding for NHS courses. Please be aware that the recent changes to nursing funding that have made the news will only affect nursing students studying in England. Therefore, as far as we know prospective USW nursing students will receive the same funding as currently (even if you are English domiciled) as if you study at a Welsh HEI, your nursing funding comes from NHS Wales. The only SFE funding will be the reduced rate maintenance loan which should continue. Diamond Review into student funding in Wales is due to report in September 2016. Will have to wait and see if any changes result from that. Confirmation from NHS Wales below... From: Claire Webber (NWSSP - SAS) [mailto:Claire.Webber@wales.nhs.uk] Sent: 02 June 2016 09:59 To: Sharon Bevan Subject: Changes to Nursing Funding in Wales Dear Sharon, You are correct with regards to the funding and that it only effects students in England from 2017, Welsh students on NHS funded places can continue to apply for a bursary at the moment. There is a consultation out with regards to higher and further education in Wales called the Diamond Review, the findings and recommendations are due to be released in September 2016. No announcement has been made by Welsh Government with regards to any changes at present. If you have any further queries don’t hesitate to contact us, Kind Regards Claire Claire Webber Gwasanaethau Dyfarniadau Myfyrwyr Student Awards Services Partneriaeth Cydwasanaethau GIG Cymru NHS Wales Shared Services Partnership Ffon • Tel: 029 2090 5381 e-bost • email:claire.webber@wales.nhs.uk Rhyngrwyd • Internet: www.nwssp.wales.nhs.uk Mewnryyd • Intranet: nww.nwssp.wales.nhs.uk
- Basic funding for living costs that all nursing/midwifery students can apply for. Some elements are means-tested against family income, others are not. Lower rate of maintenance loan may apply in final year - £1,811. Maintenance loan is not means tested
- Our nursing course for 2016/17 is 42 weeks and midwifery is 45 weeks Nursing max £3,651 Midwifery max £3,903 Bursary payment includes £1,000 grant, means tested bursary, and any additional allowances. Paid into students nominated bank account. Usually last working day of the month.
- Rates apply to 42 wk course (nursing). If midwifery add 3 extra wks i.e. £246 if live elsewhere or £162 if live with parents onto rates displayed. Residual income is that of parents, spouse or partner for tax year April 2015 – April 2016. Even if above threshold on this table, may still be worth applying to be means-tested as household contribution will then be reduced by travel claims. If you aren’t means –tested at all, you won’t be considered for travel reimbursements.
- Reduced rate in final yr - Wales - £1,727 (parental home) or £2,361 (elsewhere) England - £1,414 (parental home) or £1,936 (elsewhere) Not entitled to any other funding through Student Finance Wales/England as eligible to be assessed for means-tested bursary support. Term dates for payments of loan. Please note, each term is not equal. See term dates for 2016/17 below. Students with a prior degree are still eligible for reduced rate loan above when doing nursing/midwifery course. Term dates for 2016/17 from Corrine: Nursing – Sept start Term 1 – 19/09/2016 – 02/12/2016 (11 weeks) Term 2 – 09/01/2017 – 17/03/2017 (10 weeks) Term 3 – 24/04/2017 – 15/09/2017 (21 weeks) Nursing – March start Term 1 – 27/03/2017- 04/08/2017 (19 weeks) Term 2 – 18/09/2017 – 08/12/2017 (12 weeks) Term 3 – 08/01/2018 – 23/03/2018 (11 weeks) Midwifery Term 1 – 19/09/2016 – 09/12/2016 (12 weeks) Term 2 – 09/01/2017 – 24/03/2017 (11 weeks) Term 3 – 17/04/2017 – 15/09/2017 (22 weeks)
- Income contingent – only repay when earning above set amount. Threshold is £21,000 per year (if working in UK). Interest set at rate of inflation + 3% whilst studying. After study interest depends on level of salary. Repayments are 9% of earnings over the threshold. Collected through the tax system and calculated monthly. Outstanding balance written off after 30 years. Personal credit does not affect Student Loan although requirement to repay loan will be considered along with other financial committments. Student Loan does not effect future credit
- Childcare Grant Note: The NHS Wales Childcare Allowance is based on 85% of the actual registered or approved childcare costs up to a maximum amount. For one child the maximum payable is £128.78 per week. For two or more children the maximum payable is £209.95 per week. However, every childcare allowance is calculated individually and the amount awarded will depend on your circumstances and the income available to you and your family - Childcare grant rates confirmed by NHS Wales Student Awards Section - 029 2090 5380 on 09/06/16. DSA “The Disability and Dyslexia Service can provide support for students with disabilities, learning disabilities such as dyslexia and medical conditions such as ME. Disability advisers are available to discuss support with applicants during most Open Days so look out for them, or you can check the website for further information and contact details on http://dds.southwales.ac.uk/
- Students should apply for NHS means-tested bursary. If they don’t they won’t qualify for help with clinical placement costs. From Martyn Struebig: “Students eligible for bursary but elected not to submit financial details will get £1,000 grant and no travel. Students from ‘well off’ families who have submitted will get £1,000 grant and a ‘travel disregard of £X’. They are to submit forms. Once their claims during the year reach £X, they then start receiving expenses. I have a list of awards to date which identifies. There are a handful in each category.”
- Nursing students now apply online. Online applications usually open about 4 months before start on course. Will usually receive an email prompting you to apply from NHS Wales as they will receive a list of students from USW. Contact Information Student Awards Services 6th Floor, Churchill House 17 Churchill Way Cardiff CF10 2TW Bursary Enquiries - Tel: 02920 376854 Childcare Enquiries - Tel: 02920 196168 Email: abm.sas@wales.nhs.uk
- Hardship Fund Discretionary help from the University for students who need additional financial assistance Panel will look at a students income and expenditure to reach a decision on who will receive support Any assistance given is usually in the form of a grant although loans may be available for short term cash flow problems Apply once enrolled and funding is finalised
- Includes info specifically fir nursing/midwifery funding. Individual advice and guidance Information on fees and funding Advice on alternative funding Info on bursaries and scholarships Drop in service and appointments