Parents information - money matters
The cost of going to university can be a big worry, but there's plenty of financial support on offer from the government and from universities to help ensure that financial circumstances aren't a barrier to gaining a higher education qualification.
How much are tuition fees?
Southampton Solent University has set its tuition fees at £7,800 per year for full-time UK and EU undergraduate students starting their studies in 2012/13.
Fees for all levels of sub-degree courses (for example, Foundation Year, HND) will be £7,420.
What other costs will my son/daughter need to pay?
As well as tuition fees for their course, students will also have to pay living costs, such as rent, food, books, transport and entertainment.
I'm worried that my son/daughter won't be able to afford fees…
Cost is a concern for most potential students and their parents, but your son/daughter will be able to take out a student loan to cover the tuition fees charged by the university or college. This will only begin to be repaid after graduation. For further information regarding funding please visit www.direct.gov.uk/studentfinance
How are student loans repaid?
Students only start repaying student loans once they have finished studying and are earning more than £21,000 a year. For more information go to the Student Loans repayment website.
Is there any other financial assistance available?
If your son/daughter lives in a household with an income of less than £42,600, they may be able to get a living cost grant which they will not have to pay back. Additional financial help with be available for students with disabilities and those with children or adult dependants.
Your son/daughter may also be able to apply for help with living costs which they will pay back in the same way as tuition fees – that is, after they leave university and are earning at least £21,000.
For more information, go to www.direct.gov.uk/studentfinance or you can contact our expert funding advisers in the University’s Students 1st Information Centre on 023 8031 9427 or at firstname.lastname@example.org
What scholarships and bursaries are on offer?
Your son/daughter could be eligible for a National Scholarship for the first year which will be worth £3,000. We will offer a matching number of scholarships to that offered by the National Scholarship Programme (NSP) at £3,000 per student. Applicants with declared residual household income below £25,000 will be considered, but will need to meet the University’s additional eligibility criteria.
For University match-funded scholarships, the student will have the choice of a fee waiver or a credit of £2,000 towards halls of residence in Year 1 only at the University and a cash bursary of £1,000.
A bursary scheme of £400 per annum for students with family income below £25,000 will also be available to new entrants who do not meet the eligibility criteria for the National Scholarship Programme.
When should my son/daughter apply for financial support?
Applying for financial support can be quite a long process so it is important to apply early. The deadline for new students is the end of May 2012, so the sooner your son/daughter submits their application, the better. Applications after May are still processed, but students may not get the first installment in time for the start of their course. The deadline for making an application for financial support is nine months after you first start the course. Applications can now be made online at www.studentfinance.direct.gov.uk . Entitlement is assessed each year, so your son/daughter must remember to reapply every year of their course.
Do many students have part-time jobs?
Lots of students choose to undertake part-time and casual work while at university. In addition to gaining skills for life after university or college, the extra income can help to pay for necessities, reduce borrowing, maintain a social life and buy a few luxuries. Using a part-time job to cut down on borrowing is a sound investment, as it reduces the debt that will need to be paid off after graduation. However, to ensure studies are not adversely affected, most institutions advise that students not work more than 10–15 hours a week.