Financial advice

If you need more in-depth advice on funding and eligibility, please speak to the Guidance and Welfare Service. If you think that you may be classed as an ‘international student, you should go to the International section of this website, as the way you pay for and cover the additional costs of your studies is different.

Fee Remission

Receiving benefits

You may not need to pay tuition fees on certain courses if you receive one of the following benefits:

Job Seekers’ Allowance (JSA)
ESA (and you have been identified as being in the Work Activity Group by Jobcentreplus)

If you're entitled to fee remission, you'll need to provide evidence of this at enrolment. This can be your benefit award letter or your bank statement, showing payment of benefit. If you're named as a dependent on a claim to JSA/ESA WAG, you must be named on the award letter.

Unemployed and receiving benefits

If you're unemployed and would like to take a course that could lead to employment, you may not need to pay tuition fees. To qualify for this kind of fee remission you will need be rceiving the following benefits:

• income support
• housing benefit
• council tax benefit
• ESA

We'll ask you to sign a declaration at enrolment that confirms that you are unemployed.

Level 2 and 3 entitlement

Are you studying your first full level 2 e.g. BTEC FIRST DIPLOMA?
If you are 19 and over, wishing to study a level 2 and do not hold a full level 2 qualification or higher then you don’t have to pay course fees.

Are you studying your first full level 3 e.g. ACCESS HE DIPLOMA?
If you are up to the age of 25, wishing to study a level 3 courses and do not currently hold a full level 3 qualification or higher, then you don’t have to pay course fees.

If you are over 25 wishing to study a level 3 course and do not hold a full level 2 qualification or higher then you don’t have to pay course fees.

Both of the above categories are subject to paying exam fees and registration fees. See FEFS below for help with study costs.

Are you studying on a basic skills or Foundation Learningcourse?
If you wish to study a basic skills qualification then you don’t have to pay course fees.

The ongoing review of government policy may result in changes to funding and eligibility. Please note: The college has a 'no refund policy' for tuition fees.

Further Education Financial Support (FEFS)

For students on further education courses, the college administers a fund known as Further Education Financial Support (FEFS) to help with the costs of tuition fees and expenses such as travel, childcare and costs of study.

• you will need to have a taxable household income of less than £15,000
• be studying on an SFA funded course
• be studying 140 or more guided learning hours per academic year

Taxable household income is any income that you and your partner or spouse receive, including some welfare benefits. Evidence of income can be your P60 or three wage slips. If you are receiving benefits you should provide your award letter.

Tax credit awards DO NOT count as part of your taxable household income and you DO NOT need to provide evidence of these to support your FEFS application.

If you're self employed you will need to provide your 2010/2011 tax return statement.

Any fees awarded will be paid straight to the college. If you are awarded study costs they will be paid directly into your bank account. This must be your bank account. We'll ask you to provide your latest bank statement to verify this.

You can pick up a FEFS application from the main reception at your nearest campus.

Other sources of financial help

There are many other sources of financial help, depending on your course and individual circumstances.

Childcare

Financial help may be available from the college’s Further Education Financial Support (FEFS) to help with the cost of childcare, either at our own nurseries or with other registered childcare providers. Funding is limited and childcare is an expensive service, so it is not possible to assure students that applications will be successful. It is essential to apply as soon as possible for funding.

Successful applicants will receive written confirmation from the college’s Childcare Support Team. It is important that you do not place your child with any childcare provision before you receive confirmation of support in writing, or you will be liable for the full cost yourself. All payments are made directly to the childcare provider and students will have to pay a percentage of the childcare costs.

If you are under the age of 20, you may qualify for Care to Learn. Go to www.direct.gov.uk for more information.

Other sources of finance are available - go to www.direct.gov.uk/en/EducationAndLearning or see Guidance and Welfare for more information.

You may be aware of recent changes to higher education funding, in particular the amount universities can charge for tuition fees. These changes take effect in 2012 and we will be updating this information.

You might also like to take a look at this external advice page on 2012 funding and how it will affect you.

Help for full-time students

If you’re studying full-time, the main sources of help are student loans and grants from the government

Student loans from the government

All eligible students can get help with tuition fees and living costs through student loans. You’ll be able to take out two student loans per academic year

• a Tuition Fee Loan – to cover your tuition fees
• a Maintenance Loan – to help with accommodation and other living costs (how much you get depends on your household income)

Repaying student loans

Student loans have to be paid back, but you don’t have to start making repayments until you’ve left your course and are earning over £15,000.
Once your earnings reach this threshold, you’ll pay back nine per cent of whatever you earn over £15,000.

Grants to help with living costs: Maintenance Grant and Special Support Grant

A large proportion of new students are expected to qualify for the full Maintenance Grant, with many more getting a partial grant. Certain groups of students can get a Special Support Grant instead of the Maintenance Grant.

Extra help

You may qualify for extra help on top of student loans and grants if you’re disabled, or you have a mental health condition or specific learning difficulty. Students with a child or an adult dependant may qualify for an additional grant or allowance.

Help for part-time students

Fee Grant and Course Grant

The main sources of financial help for part-time students are usually different from those available for full-time students. Depending on your circumstances, you may be able to apply for the part-time Fee Grant and Course Grant. How much you can get depends on your household income and personal circumstances.

Extra help for part-time students

You may qualify for extra help if you’re disabled, or you have a mental health condition or specific learning difficulty.

For full information on the finance available and how to apply, go to www.direct.gov.uk/studentfinance

Banking

Different bank accounts offer different features, such as, cash cards and overdrafts. Most banks offer student bank accounts – these are for Higher Education students only. They offer various discounts and overdrafts. Always read the terms and conditions for any account before you sign any credit agreement, and check the APR (annual percentage rate).

Higher Education and student bank accounts

Most banks will offer 'student bank accounts'. It is essential that you look into these accounts carefully before deciding to open one. Banks will offer incentives such as free gifts, vouchers, discounts or items such as iPods to encourage you to open their account. Student accounts will often carry an overdraft facility, but remember this is credit and you will incur charges if you go over the limit. Always check the APR (annual percentage rate) before you commit.

How to choose a student bank account

• Ignore free gifts - the best incentive should be the money you’ll save by choosing the right bank account for your needs.
• If you’re worried about getting into debt early on, choose a student account that offers a tiered overdraft limit that can be increased incrementally each academic year, such as Barclay’s Student Additions account.
• Check the availability of bank branches and cash points near your university and term-time address before choosing a bank.
• You may not necessarily be given the advertised overdraft limits. What you're offered can depend on your personal circumstances.

Think long term by checking what happens to account benefits (such as interest free overdrafts) when you graduate.

Further Education and student bank accounts

There are four main types of bank accounts for Further Education Students.

Basic account

You can pay money into your account, get cash from a cash machine and pay regular bills using standing orders or direct debits. You will not have an overdraft facility. This type of account may be suitable as a first account.

Current account

This is the most common type of account. It has the same facilities as a basic account with added features like a chequebook/cheque guarantee card, an overdraft facility and a debit card.

Savings account

This pays a higher rate of interest and is a useful and safe way of saving money. Usually you will not get a chequebook or debit card and you cannot pay bills from a savings account. It is worth noting that many savings accounts do not allow you instant access to your money.

Post Office™ card account

This is a new type of account that can only be used to receive benefit, state pensions and tax credit payments. No other payments, such as wages, can be paid into it.

Prepaid cards

A prepaid card looks just like any normal credit/debit card, with a card number, signature strip and company branding. However, they are very different from any normal credit/debit card because you can’t borrow money with a prepaid card – you can only spend the money you have loaded on it. You can find a prepaid card from participating banks and retailers.

If you would like more information about opening a bank account

• please contact the Guidance and Welfare Service on your site
• or visit http://yourmoney.moneyadviceservice.org.uk/

For a full list of banks, building societies and non-UK banks with branches in Manchester, go to www.manchester2002-uk.com/busness/banks.html

For general information about how to open and apply for bank accounts, call into your local branch.

You can speak to Guidance and Welfare if you have any problems opening a bank account.

Money and budgeting

There are all sorts of expenses you'll face as a student. Although everybody's financial circumstances are different, it can be particularly tricky making ends meet if you're budgeting for yourself for the first time.

If you're living with a parent/s or a carer, they may well be able to help out with your finances. You could also look for a part-time job, but make sure you get the National Minimum Wage. Keeping a monthly budget sheet of what's coming in and what's going out is a good way to keep an eye on your cash. You can use our handy budgeting sheet to help you work out your weekly budget.

But if you do get into debt, don't ignore the problem. It won't go away. Talk to someone you trust for proper advice.

Useful contacts

• National Debtline: www.nationaldebtline.co.uk 0808 808 4000
• National minimum wage: http://www.direct.gov.uk/en/Employment/Employees/TheNationalMinimumWage/... 0845 6000 678
• Citizens Advice Bureau: www.citizensadvice.org.uk
• www.direct.gov.uk/studentfinance
• Guidance and Welfare on your site

The basics of building your budget

Drawing up a budget is something that’s personal to you and your circumstances. To make an effective budget plan, be honest and make a note of what’s coming in and what’s going out each month.

Once you can see where your money goes, you'll be able to work out how much money you have left to spend after you've taken care of your bills. That way, you’ll not only be saving money but making decisions that could change your finances for the better.

What's coming in

To draw up a budget plan, you should start by jotting down all the money coming in to your household each month, such as salary, tax credits, child benefit, and any other income, etc.

What's going out

Next, you should write down all your household’s basic living expenses. This includes regular commitments, everyday spending and occasional spending. To help you do this, use your bank statements to see what your spending habits are.