University Centre Grimsby
HIGHER EDUCATION
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Saturday
13th May
 10am - 1pm


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100s of degrees to choose from

find out about fees and funding

Fees and Funding

Whilst studying for a qualification, you may require help with fees and funding. You will find plenty of financial support which may be available for full-time students such as Student Loans and Grants and Bursaries. You may be eligible for council tax relief and help is also available for students with disabilities, children or adult dependants. Financial support in the form of a Tuition Fee Loan is also available for part-time students.

Refund Statement
Higher Education fee rates are determined by the Institute Group on an annual basis. If a student withdraws from their course during the first term they are responsible for 25% of their fees, if they withdraw during the second term they are responsible for 50% of their fees and if they withdraw during the third term they are responsible for 100% of their fees. Refunds will be given for any difference between these amounts and the original invoice amount. Please note your statutory rights are not affected.
Tuition Fee Loan
You will not have to find the money to pay for your fees either before or whilst you are studying. All eligible students can get a repayable Tuition Fee Loan to cover the cost of the programme. This money is paid direct to the Grimsby Institute Group and you will not have to start paying it back until you have left the programme and are earning over £21,000.
Maintenance loan
Maintenance Loan Table
Maintenance Grant
Maintenance Grant Table
 

The amount of grant you receive will affect the amount of maintenance loan you can borrow.

Disabled Student Allowance
If you have a disability, mental health condition or specific learning difficulty you can apply for this non-repayable grant. It can help pay for the extra costs you may have during your programme as a result of your disability, mental health condition or specific learning difficulty. For more information, visit the website: https://www.gov.uk/disabled-students-allowances-dsas
Parents Learning Allowance
The Parents’ Learning Allowance is an additional grant available to full-time students with dependent children. How much you get will depend on your household income amount, please visit https://www.gov.uk/parents-learning-allowance for the latest information. This is paid on top of the standard student finance package, and does not have to be paid back.
Childcare Grant
The Childcare Grant helps with the cost of childcare with a registered or approved childcare provider. If you qualify, the Childcare Grant could cover as much as 85% of your childcare costs during term time and holidays. How much you get depends on your household income and the actual costs of your childcare. This is paid on top of the standard student finance package, and does not have to be paid back. Please visit https://www.gov.uk/childcare-grant for the latest information.
Access to Learning Fund
Loan Interest
Student loans are not like commercial loans. They are subsidised by Government and attract a low cost interest rate. This table shows the varying rates of interest which depends on how much you are earning and whether you are still studying.
Loan Interest Table
Earnings Inflation
Up until the April after leaving University Rate of Inflation (RPI) + 3%
Earnings below £21,000 Rate of Inflation (RPI)
Earnings £21,000 - £41,000 Rate of Inflation (RPI) + 3% (on a sliding scale depending on income)
Earning above £41,000 Rate of Inflation (RPI) + 3%
Loan Repayment
Repayments of the Tuition Fee and Maintenance Loan will not need to be repaid until the April after you have left the programme and are earning over £21,000 a year. The amount you repay is linked to your annual income and is currently 9% of all earnings above the £21,000. The more you earn the more you repay. For example; earnings of £25,000 a year you would repay £30 per month.

Use the repayment calculator here to get an estimate of how much student loan you could owe and how long you might repay for.
How much is it worth?
Students awarded a Scholarship will receive:
  • £1,000 tuition fee waiver and £1,000 cash
Who can apply?
To be eligible for consideration you must:
  • Apply to study and subsequently enrol on a full time course at level 4 with tuition fees of £5,995 or more
  • Firmly accept a conditional or unconditional offer of a place at the Grimsby Institute or The Grimsby Institute by 6th June 2014.
  • Have an income of £25,000 or less
  • Provide a Student Finance England (SFE) Notification that shows you are in receipt of the full maintenance grant or special support grant.
How does it work?
Successful applicants will receive:
  • £1,000 discount on tuition fees (applied immediately at the start of your course).
  • £1,000 cash award (£500 paid in February 2015 and £500 paid in June 2015 provided your attendance record is maintained at 85% or above)
  • Meeting the criteria does not guarantee a scholarship award. Scholarships will be awarded to the first 50 applicants who meet the eligibility criteria.
Council Tax relief
You may be able to get Council Tax relief depending on the number of adults in the household. A full Council Tax bill is based on two adults living in a household. Full-time students are not 'counted' towards this number. If there are fewer than two in the household you may be eligible for a discount. To apply you need to take a certificate from the University Centre Grimsby (available after the start of the programme to your local council tax office. Visit the Higher Education Admissions & Administration office to request your certificate.
Child Tax Credits
Students with children may also be eligible for Child Tax Credits from the HM Revenue & Customs. To find out more visit www.hmrc.gov.uk/taxcredits or call them on 0845 300 3900.
Where to apply for funding
Student Finance England is a partnership between the Department for Innovation Universities and Skills and the Student Loans Company Ltd to provide financial support on behalf of the Government to students entering higher education in the UK.

Higher education students from England can use its secure system to apply for finance online, and parents and partners can support an application online. Student Finance England will help you work out the financial support you will get, apply for finance and keep track of your payments.

You can create an online student finance account and use it to apply earlier than in previous years, manage your student finance account online, use the Student Finance Calculator for a quick guide to how much you can get.

There are so many options available, don't be put off at the first hurdle. Our HE Admissions & Administration Office can help you with all financial matters. Please contact us on 0800 328 3631.
What financial help can I get if I study part time?

Tuition Fee Loan

Part time students can apply for a tuition fee loan to cover their tuition cost. To qualify you must complete a minimum of 25% of the equivelent full time course load per year. You will not start paying it back unitl you are earning over £21,000. No grants or loans are available for living expenses.

Loan Repayment

You'll be due to start repaying your loan the April four years after the start of your course or the April after you leave your course, whichever comes first. But you'll only start making repayments when your income is over £404 per week, £1,750 per month or £21,000 a year.

Use the repayment calculator to get an estimate of how much student loan you could owe and how long you might repay for.

Loan Interest

Earnings Inflation
Up until the April after leaving University (or the third anniversary of the start date if study is continuing) Rate of Inflation (RPI) + 3%
Earnings below £21,000 Rate of Inflation (RPI)
Earnings £21,000 - £41,000 Rate of Inflation (RPI) + 3% (on a sliding scale depending on income)
Earnings above £41,000 Rate of Inflation (RPI) + 3%

Where to apply for funding

Higher education students from England can use its secure system to apply for finance online. Student Finance England will help you work out the financial support you will get, apply for finance and keep track of your payments.

You can create an online student finance account and use it to apply earlier than in previous years, manage your student finance account online, use the Student Finance Calculator for a quick guide to how much you can get.

There are so many options available, don't be put off at the first hurdle. Our HE Admissions   Administration Office can help you with all financial matters. Please contact us on 0800 328 3631.

Alternatively visit www.gov.uk/student-finance or contact Student Finance England's Customer helpline Tel: 0845 300 5090

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