Financial Support for part-time undergraduate students starting their courses in 2012-2013
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The following questions and answers have been prepared to help explain the changes to tuition fees for UK and EU part-time undergraduate students from 2012 onwards.
What will the University of Warwick charge for tuition fees in the 2012-2013 academic year?The University of Warwick will charge £6,000 a year pro-rata for all part-time degree courses starting in 2012. This will mean tuition fees of £1,500 a year for each 30 CAT module. In 2012, will I have to pay the tuition fee at the start of the course?If you are a UK or EU undergraduate student and are studying at least 25% of a full-time equivalent course (30 CATS) you will not have to pay your tuition fees upfront. For the first time, the Government will provide part-time students with a non means-tested tuition fee loan to cover the full cost of the fee. You will only start to repay this loan after you have left your course or you have been studying for four years and once you are earning over £21,000 a year. Students who have already studied for a previous undergraduate degree may not be entitled to a tuition fee loan. For more information about tuition fee loans for part-time students, see www.direct.gov.uk/yourfuture. What financial support will be available from the University?The University has developed a generous package of fee waivers to ensure we remain accessible to all students with the potential to succeed. Fee waivers of £750 per 30 CAT module, known as Warwick National Scholarships, will be available to students who receive a tuition fee loan and who are in receipt (or whose spouse or partner is in receipt ) of one or more of the means tested benefits or tax credits listed below. The benefits and tax credits which confer eligibility are:-
How do I apply for a Warwick National Scholarship?An application form will be available to download from this page shortly. Is there any financial support available towards living and course costs?The answer to this question is no. Part-time students cannot access Government living cost grants or loans or Warwick Bursaries. How much will I have to pay back and when?Students will be expected to contribute once they are earning over £21,000. The repayment structure will mean that students will be required to pay nine per cent of their income above the £21,000 threshold. So if you are earning a salary of £25,000 you would repay around £30 per month. The process for repayment is simple and payments will be deducted automatically from your salary through the tax system. Repayments will begin in the April after you have been studying for four years, even if you continue to study. If you leave your course early then you will repay from the April after you leave your course, but only if you are earning over £21,000 a year. What rate of interest will I pay on my loans?In order to make the system financially sustainable, a real rate of interest will be charged on loans. The Government has proposed that loans will incur interest at the rate of inflation (as measured by the Retail Prices Index) plus 3% whilst you are studying. Once you have graduated and are repaying your loans, a progressive taper will be applied:
For students who leave their course early, the Student Loans Company will apply interest at RPI only from the April after you finish your course until April 2016. From April 2016, the interest applied to your loan balance will depend on your income. How long will it take to repay my loans?It will depend on the size of your loan and your income. As your income rises you will start to repay your loan at a quicker rate. Any outstanding repayments will be written off after 30 years. What if I applied to the University for entry in 2011, but deferred to 2012?Students who defer entry from 2011 to 2012 will be required to pay the 2012 tuition fee and will be eligible for the 2012 student support package. Will current part-time undergraduate students have to pay more?No. Students who are already at University and continuing their course will be eligible for the same package of funding on offer when they entered the course and will continue to get this for the full length of their course. I have a disability- can I get any extra financial support?Disabled Students' Allowances (DSA's) are available to help if you are at university and will incur extra costs because of a disability (including a long-term health condition, mental health condition or specific learning difficulty such as dyslexia). DSA's are paid in addition to the standard student finance package and are available if you are studying on a part-time course. They are not dependant on income and do not have to be repaid. If you have any queries, please contact the Student Funding office on 024 7615 0096 or email studentfunding@warwick.ac.uk. |


