Finance Matters
Advanced Learner Loans Bursary Fund
2016/2017
Travel Support
You can apply for help with travel if you live 2+ miles from your college centre of attendance/placement.
Points to Note
ü In order to qualify for this support, both you and the course must be eligible for an Advanced Learner Loan
ü You must be enrolled on a full time course (at least 3 days) to receive this support.
ü Your household income must be under/up to £25,000
ü You will be asked to make a £20 contribution each term for this pass.
ü If you lose your pass, you will be required to pay £45.00 for a replacement to be issued.
ü Termly passes will only be renewed if you meet the 90% attendance requirement.
Course Equipment Support
Still to be confirmed.
Student Fund Support
The college has a limited fund to offer support to students with additional on course costs such as books, stationery, materials and equipment.
Application forms are available on the Student Intranet and at your centre of attendance from October 2016.
FE Meals
If your household income is under/up to £25,000.00 per annum, you will be eligible for one meal a day at one college centre to the value of £2.41 each day you attend college.
Childcare Support
The college does offer childcare support from the Advanced Learner Loans Bursary Fund. Student parents can choose whichever childcare setting is most appropriate for them. Childcare can be provided to children aged 0-12. External childcare can only be paid to a provider who is listed on the compulsory part of the Ofsted Childcare Register and/or the Early Years Register.
To find out if you are eligible, please contact Karen Costain Childcare manager on 252 3673 or via e mail
Welfare Benefits
Jobseeker’s Allowance
You may be required to provide a Learning Agreement to the Jobcentre Plus to confirm details of your study programme and hours of attendance.
This document is available on request from the Student Services office at your centre of attendance.
Other Benefits
Complete a Request for Benefit Confirmation form with the Student Services office at your centre of attendance.
Other Discounts
Council Tax Student Certificates
If you or your parents are liable for Council Tax payments, you can apply for a Council Tax Student certificate. As a full-time student you are ‘invisible’ for Council Tax purposes, and may receive a discount or an exemption on your bill.
NHS Low Income Certificates
If you are a student aged 19 or over and receive NHS treatment you may have to pay a charge (health cost), for example a prescription charge.
If you are liable for health costs you might be able to get some help under the NHS Low Income Scheme.
Many students who apply for help under this scheme are entitled to full support. Even those students who don’t get things free might still get some help towards costs.
The amount of help you are entitled to depends on your circumstance at the time you make the claim.
Work
If you have a job when you’re a student you may need to pay Income Tax and National Insurance.
You have to pay: Income Tax if you earn more than £192 a week or £833 a month – (this is your Personal Allowance) and National Insurance if you earn more than £153 a week
Your employer will usually deduct Income Tax and National Insurance from your wages through Pay As You Earn (PAYE).
Most students do work while studying, but there can be dangers if part time work starts to dominate. Here are some guidelines which might help you:
0-11 hours work there should be little or no problem
12-15 hours work your final grade is likely to be affected
15 hours or more the balance between work and study is unhealthy; your final grade is likely to be seriously affected and you may fail your course
Top Tips for Budgeting
v Spend time planning
v Prepare a budget sheet
v Confront your fears
v List essential expenditure
v Keep a record of everything you spend – this helps identify regular/occasional spending patterns
v Consider setting up standing orders/direct debits – these can help you plan and make consistent regular payments to all the places you need to
v Plan for extra expenditure such as at the start of year costs/special occasions/family birthdays etc
Got a quick question about student fees, finance or funding?
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