Thursday 7 July 2011

Newton building

Professor Nick Petford, Vice Chancellor of The University of Northampton, said: “The University, which recently rose 31 places in the national Guardian League Tables and became No. 1 in the UK for ‘Value Added’, has made this decision after very careful consideration.

“We have developed a combined package of fees, bursaries and scholarships which represent the real teaching and support costs of delivering high quality education in individual subjects. This also strikes a balance with recruitment plans and investment in the best possible university experience for our students.

“It is important to remember there is no upfront payment required for the fee. Most students will be able to take out a Government Tuition Fee Loan and will only make repayments after they have left university, when they are employed and their salary is £21,000 or more.”

Callum Wood, Vice President of the Students’ Union at The University of Northampton, commented: “While recognising the University has had to increase its undergraduate student fee to £8,500 because of cuts in Government funding and in respect of the costs of course delivery, the Students’ Union is committed to ensuring that students receive the best possible support and experience during their time at the University.”

Student Fees essential details:

  • Last year, Parliament approved a new higher education fee range of between £6,000-9,000. This was quickly followed by extensive government cuts to HE funding that will impact this year, ahead of the introduction of higher student fees beginning in September 2012/13
  • As a result, The University of Northampton will charge a headline fee of £8,500 per year for full-time study on an undergraduate programme for students beginning their studies in 2012/13 (existing full time students who commenced their course prior to 2012/13 and continue on the same course will pay the same 2011 price structure and will not pay 2012 fees.)
  • There is of course no upfront charge for the fee. Most students will be able to take out a tuition fee loan. Students only make loan repayments after they have left University, when they are employed and their salary is £21,000 or more. Their fee is repaid at 9% of salary over £21,000, and is deducted through the individual’s employer payroll just like income tax. Any amount of a student loan not repaid after 30 years is completely written off.
  • The University of Northampton additionally provides bursaries to eligible students on full time HND, Foundation Degree, BA, BSc who are paying tuition fees of £8,500. These annual bursaries are:
    £1,000 for students with up to £25,000 household income
    £500 for students with £25,001 – £42,600 household income
    £500 Academic Merit Scholarships for up to 5% of students
  • In 2012/13 the University will grant a total of 133 National Scholarship Programme awards (made up of fee waiver and bursary) of £3,000 each to full-time students with a household income below £5,000 and in receipt of a Special Support Grant from Student Finance England.
  • Details of eligibility criteria for the bursary and National Scholarship Programme award can be found on our website: www.northampton.ac.uk/fees
  • The government is still offering a package of maintenance support for university students:http://yourfuture.direct.gov.uk/
  • Despite some confusion in the public arena, it is predicted that university leavers in 2015 will actually be better off financially under the new charging regime, although they will be paying back for longer. For further details see the Moneysavingexpert links:
    www.moneysavingexpert.com/family/student-loans-tuition-fees-changes#6
    www.youtube.com/watch?v=55fKa-ErQ8E

For more information on tuition fees, eligibility criteria for The University of Northampton bursary and National Scholarship Programme awards: www.northampton.ac.uk/fees

Additional useful web links:

  • Department for Business Innovation & Skills (BIS) Student Finance: http://www.bis.gov.uk/policies/higher-education/students/student-finance
  • PDF Guides from BIS:
  • Financial Support: http://www.bis.gov.uk/assets/biscore/higher-education/docs/t/11-789-thinking-of-uni-2012-financial-support.pdf
  • FAQ: http://www.bis.gov.uk/assets/biscore/higher-education/docs/f/11-790-faq-student-finance-from-september-2012.pdf
  • Part-time support: http://www.bis.gov.uk/assets/biscore/higher-education/docs/t/11-904-thinking-of-university-part-time-2012-financial-support.pdf

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