Funding and Fees for new UK students from 2012
The Government have recently introduced changes to the fees which can be charged and the funding package available to new UK students from 2012. An initial outline of the changes is below.
Government Financial Support for new UK students from 2012
Summary changes to the Government financial support system will mean that from 2012 new UK students will be entitled to:-
- A non-means tested tuition fee loan to the value of fees charged.
(Lancaster University will charge new FT UG UK students £9,000 in 2012, for other fee information see: fee levels)
- A variable means tested living cost loan.
- A variable means tested living cost grant.
(A maximum of £3,250 where income is below £25,000 reducing to a minimum, previously £50, where income is £42,000)
- Loans will be repayable once graduates are earning above £21,000. Graduates earning between £21,000 and £41,000 will be charged interest on a sliding scale up to a maximum of inflation plus 3%.
Graduates earning above £41,000 will be charged interest at the full rate of inflation plus 3%.
- A summary of Government help based on income can be found at:
UK/EU full time undergraduate students who defer entry from October 2011 to October 2012 will be charged the 2012 fee rate (Lancaster UK FT UG fee rate in 2012 = £9,000).
The University has confirmed the level of 2012 bursaries and scholarships available at
Tuition Fees - Deferred Entry (from 2011 to 2012)
Students who are eligible for UK Government or Lancaster University financial support funds will be eligible for the financial support package applicable to new students in 2012.
For the latest information from the Department for Business, Innovation and Skills (BIS) see: www.bis.gov.uk/studentfinance