Student Loans and other Finance
Tuition fees for our students will vary depending on government legislation from year to year – there are financial incentive schemes and you may be eligible for a bursary or training grant to assist you in financing your career in teaching. Currently the tuition fees for QTS are £9,000.
You will be classed as a full time student, therefore (with an exception of salaried trainees) you may be eligible for a tuition fee loan and maintenance loan.
Student Finance Tuition Fee and Maintenance Loans
The vast majority of British applicants are eligible for both types of loan offered by Student Finance England.
Tuition Fee Loan: is paid directly from the Student Loans Company to us in 3 instalments to cover the cost of tuition fees.
Maintenance Loan: is paid directly to the trainee in 3 instalments to cover their costs of living. A percentage of this is non-means tested, but around £5,000 of the loan is dependent upon income and personal circumstance. Those living with parents will have their parents' income taken into account, and those living with a partner may also need to provide evidence of their partner's income. The maximum maintenance loan awarded is £8,900.
Please be aware that student loans are automatically deducted from earnings in the UK once you earn over £25,000 p.a. You will pay 9% on all earnings above this amount (so if you earn £25,000 then you would pay back 9% of £4,000 (£25,000-£21,000) each year. Students loans are only repayable while you are earning and if you are earning less than £25,000 then your repayments will pause.
Student Finance Grants
During the Student finance application there will be several other grants that you can apply for, depending on your personal circumstances. The most commonly accessed are:
Special Support Grant: typically offered to lone parents or those with certain disabilities
Disabled Support Allowance: typically offered to those with specific learning needs, with the allowance allowing access to specific support such as one-to-one tutorial support or additional equipment costs
Childcare Grant: This covers up to 85% of childcare costs for dependents under the age of 15
Parent’s Learning Allowance: This helps with course costs for those with dependent children
Adult Dependent’s Grant: This helps with costs if adults rely on you financially
Please be aware that you may have to repay this grant if you withdraw from the course.
For full assessment please refer to Student Finance England website
Bursary and Scholarships
Department of Education offer bursaries to support those undertaking their training year. The amount awarded depends on the subject in which you intend to train to teach and the classification outcome of your degree. Bursaries are paid in monthly instalments during the course and are not repaid once your training has finished. Scholarships are awarded to the most gifted trainees in physics, maths, chemistry, computing, languages or geography in partnership with highly regarded professional subject associations.
The additional condition for receiving a bursary is that you are also eligible to receive student finance. For this reason, we may ask the trainee to make an application with Student Finance England/Wales/Scotland to demonstrate their eligibility.
New bursary amounts for 2019/2020 can be found following this link.
Important information for non-UK EU nationals and EEA citizens following EU referendum result
1. You could receive £30k or £32k in total - £20k as a tax-free bursary or £22k scholarship with additional payments of £10k after tax once in teaching. You'll need to have completed a non-salaried teacher training course and received a bursary or scholarship in the academic year 2019/20. You’ll receive two additional early-career payments of £5k each in your third and fifth year of teaching - enhancements to these payments are available if you teach in specified areas in England. You must have taught in a state-funded school in England since completing your teacher training course. View the full terms and conditions
For further information please e mail:
Alternatively you can call one of our offices:
Callington 01579 386123 or Roche 01726 891745