HE Fees Q&A

What is the current situation regarding fees for HE courses?

As part of the government’s budget cuts, the funding for HE courses has been reduced by 80%. This means that many of the costs of study are being passed on to students and course tuition fees have gone up. This affects anyone who starting a new course from September 2012 onwards but does not affect those continuing on a course started before then.

So what are the key changes to fees?

Institutions are allowed to charge up to £9,000 per year. Most universities are charging £9,000 for some or all courses.

What will be the fees at Warwickshire College?

As a community college, Warwickshire College aims to keep higher education affordable. For students beginning their studies in September 2013, full-time fees will be from £5,640 to £6,660 while part-time fees are lower. See our fees flyer for full-time or part-time study for more information.

Do I have to pay tuition fees up front?

No-one will have to pay their fees upfront. Full-time students are still be able to get Tuition Fee Loans. A key change is that part-time students can now also get Tuition Fee Loans.

When do I have to pay back a student loan?

You will not have to pay anything back until you are earning more than £21,000. As a graduate, you will pay 9% of your income above this threshold and will pay a maximum rate of interest on your loans of inflation plus 3%.

For example, if your salary is £25,000 a year, you pay nine per cent of £4,000, which is £6.92 a week. Any outstanding repayments will be written off after 30 years, thereby protecting graduates with lower lifetime earnings.

Will student loan debt affect my chances of getting a mortgage?

Mortgage providers have stated that they will not count student loan debt when considering mortgage applications. This is because a student loan is seen as an investment in your future which is likely to lead to higher earnings throughout your lifetime.

What financial support is available for full-time students?

For full-time students beginning their studies in September 2013, government support includes

• Tuition Fee Loans (to pay your full course fees) and
• Maintenance Loans (up to £4,375 or £5,500 depending on whether you live at home or away from home) as well as
•  Maintenance Grants (up to £3,354 depending on household income).

Visit the Student Finance England  website to find out more, including information about support for disabled students and students with dependants.

Warwickshire College Scholarships

Warwickshire College is part of the National Scholarship Programme, offering scholarships of £3,000 in value to selected eligible full-time students in receipt of a full Maintenance Grant, including care leavers.

What financial support is available for part-time students?

If you are a part-time student then you can access a Tuition Fee Loan to cover your full course fees. Visit the Student Finance England website to find out more, including information about support for disabled students.

It sounds expensive… is higher education worth it?

The benefits of HE are massive. People with HE qualifications are more likely to be employed and more likely to be promoted. They will earn around £400,000 more over their lifetime than someone without an HE qualification. A recent survey of graduates three and a half years after they left HE found an impressive 86.9% satisfied with their career to date.

In other recent surveys:

• 86% of respondents thought higher education was worthwhile
• eight out of ten parents who did not go on to HE wish they had
• One in five students meets and settles down with the love of their life while studying in HE
• People who have studied in HE have more close friends and stronger social networks than those who have not.

Is Warwickshire College a good option?

Warwickshire College has an established reputation for high quality education while ensuring that its higher education courses provide excellent value for money. Our wide range of HE courses is in partnership with highly regarded universities including Coventry University, the University of Worcester, the University of Gloucestershire and Birmingham City University while our fees are well below the sector average.

Over 1,000 HE students study with us every year.

Warwickshire College’s most recent National Student Survey results were excellent, with the college outperforming the average university on most areas of the survey and being in the top 25% of institutions for Assessment & Feedback, Academic Support and Personal Development.

A recent survey by the Association of Colleges (AoC) found that studying a three year HE course at an FE college, compared with a university, saves students around £17,500… even before the fee rises in September 2012.

The findings highlight how a combination of greater opportunities to work part-time while studying, the ability to live at home and reduced travel costs are all key factors in minimising the overall debt levels of HE students at a college.

One student studying HE in an FE college said, “I’m going to end up with the same qualification as if I’d gone to university but it’s cheaper. I don’t understand why more people don’t do it.”