Finding funds

You might like to ask yourself the following questions:

When studying at university you will need to take a number of factors into consideration when assessing the cost overall.

Firstly there are living expenses such as accommodation, food, light, heating, power, insurance, travel so you will need to look at the length of time you will be studying for. In addition, there may be leisure and childcare costs.

Secondly there are course expenses such as textbooks, stationery, photocopying, computer equipment and travel.

Thirdly there are the loss of earnings by not being in a position to work full-time or even part-time.

The fourth consideration is the matter of tuition fees.

As a nursing or midwifery student on a Diploma in HE course you will not be asked to contribute towards tuition fees and you will be eligible to receive a non-means tested bursary from the NHS executive. The bursary is not subjective to tax or National Insurance and is paid once a month for the duration of the course.

From summer 2000, this will be £5 645 per year for student below the age of 26 years and an extra £600.00 per year for those over 26 years of age. Students in the parental home receive £4 805 per year. Diploma students on accelerated programmes for graduates will receive the full bursary regardless of age.

Seconded health care assistants are not eligible for NHS bursaries. From November 2001, bursaries will only be available for home students. Overseas students studying on courses or those starting on September will continue to receive bursaries.

If you are taking a B.Sc [Hons] course then you are not available for a non-means tested bursary. However, a means-tested bursary is available. This means that your income, and that of your parents in some circumstances, will be taken into account. Some universities will provide you with the opportunity to apply for a scholarship to increase the level of funds to that of a non-means tested bursary.

Students who receive a means-tested bursary can apply for other sources of financial help such as grants, funds and loans. The amount of financial help available for students on non-means tested bursaries is very limited and they are not eligible for any of the loans.

Grants

Access fund

Student loan

Hardship loan

Career development loan

Grants

To help students who get into financial difficulty during their course of study, some universities have a limited number of trust funds and scholarships available.

Access fund

To help students who get into financial difficulty during their course of study. The fund is provided by the government and is usually designated for help with living and course expenses and occasionally for travel and childcare costs. No repayment is required.

Student loan

To help student with their living expenses. The loan is provided by Local Education Authorities LEA. The loan amount depends on your own circumstances, as well as on the particular course you choose and where you will study. The loan is from the Student Loans Company not from the university. After you have finished the course and secured a job you have to pay back the loan from your income. You do not start making repayments until you have earned a set amount [£10 000 in 2000-2001]. You then pay a percentage of your income until the loan is repaid.

Hardship loan

To help students with unexpected financial problems during the course of study. Up to £500.00 is available. Repayment of loan is required at end of course.

Career development loan

To help pay for up to two years vocational education training. Available from four high street banks and supported by government. No repayment of loan required and no build up of interest until the training ends.