Finance WE WANT YOU TO HAVE ALL THE FACTS ABOUT FINANCE – NOW AND THROUGHOUT YOUR STUDIES .
NO UPFRONT FEES
Most UK undergraduates fund their studies with Government student loans . A tuition fee loan covers your full course tuition fees and isn ’ t based on your household income . If you opt for a tuition fee loan , it ’ s paid directly to your university .
REPAYING YOUR LOAN
Monthly repayments are based on how much you earn after graduation , not how much you borrow . No matter how much you owe , you only repay nine per cent of whatever you earn above a certain level of income , which is currently £ 27,295 a year . Any balance is wiped after 30 years .
YOUR FUTURE FINANCES
Your student loan doesn ’ t appear on your credit report , so won ’ t affect your credit score or stop you getting a mortgage .
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FUNDING YOUR UNI EXPERIENCE
In addition to a tuition fee loan , UK students may be eligible for a maintenance loan of up to £ 9,706 a year , to help with your living costs . The amount paid to you depends on where you study , your household income and circumstances .
You may also be eligible for extra financial support like a grant , bursary or scholarship . You can usually get these alongside student loans and you don ’ t have to pay them back . To see the scholarships and bursaries Portsmouth currently offers , visit port . ac . uk / money .
Many students have part-time or seasonal jobs to help meet their living costs . Our Careers and Employability Service can help you find one .
CHANGES TO FEES AND FUNDING ?
As we write , the UK Government is reviewing university funding . Whatever the outcome , there will still be support to help students study at university . So there ’ s no need to worry – especially because our Student Finance Team is here to help you .
This prospectus is correct at the time of publication but for the latest information on financial support , bursaries and scholarships , visit port . ac . uk / ugfeesandfunding .
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SUPPORT FROM PORTSMOUTH
You can talk to our Student Finance Centre Team long before you start your course . Their advice is tailored to your circumstances . They can advise you on :
• identifying and applying for funding
• how to budget and manage your money
• benefits you might be entitled to claim
We know if you are estranged from your parents , leaving care , a young carer or seeking asylum in the UK , you might find it more difficult to get the personal and financial support you need to go to university . We have a number of tailored support packages which can include a non-repayable bursary , a year-round guaranteed place in halls , and a personal support finance adviser , so you can focus on being a student . To find out more , visit port . ac . uk / bursaries .
For any student who struggles to get by , we have a University of Portsmouth Support Fund , to provide additional financial help .
You will need to take care of your money as a student – but at Portsmouth , you can rest assured we will also take care of you .
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• Accommodation
• Utility bills ( gas / electricity / water / internet )
• Food / housekeeping
• Travel
• Social costs
TOP 6 TIPS FOR LIFE ON A STUDENT BUDGET
Start budgeting . Work out how much money you ' ll have coming in and out of your bank account each month , so you don ’ t get caught out .
Get cooking . Making meals from scratch is a smart way to save . Websites like thestudentfoodproject . com have lots of balanced , affordable recipes .
Hunt out second-hand treasures . Check charity shops and online marketplaces for affordable or free items to furnish your student home .
Set up a student bank account . There are lots of advantages to an account designed for student finances . You might even bag yourself a free railcard .
Get a part-time job . Some paid work boosts your bank balance , helps you make friends and gives you work experience for your CV . It won ’ t affect your loan .
Search for student discounts . From travel to food , entertainment and clothes , you ’ ll be surprised how much you can save if you check for a student discount .
Self-catered halls of residence
£ 103 –£ 180 £ 90 –£ 110
Included in halls rent £ 35
EXAMPLE WEEKLY LIVING COSTS
£ 40 £ 40
£ 5 –£ 10 £ 5 –£ 10
Private rented accommodation
£ 30 –£ 40 £ 30 –£ 40
IF YOU ’ RE AN INTERNATIONAL STUDENT
You can find information about tuition fees , scholarships and bursaries at port . ac . uk / international-fees-and-funding .
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