Life at BMC

Finances

Student Finances

We offer flexible and affordable quality education with a range of bursaries available, you can contact our Student Support Services team for further advice and guidance.

UK/EU Students

At Brooksby Melton College we recognise that the costs of undertaking a higher education course can be daunting. However, money need not be a barrier to you participating in higher education. This page on our website is intended as a guide to the range of financial support packages available to students to help meet the costs associated with study.

Prior to starting your course you will need to consider how you will afford some of the following costs: tuition fees, examination/registration fees, travel costs, equipment/materials, uniform/specialist kit and childcare costs if you have a young child/children.

If you wish to enroll on a higher education course, you can apply for a higher education loan to cover your tuition fees and help towards your living costs. The main types of finance available are Tuition Fee Loans and Maintenance Loans (which have to be paid back) and Bursaries (which don’t). The amount you will be eligible for depends on your income and that of your household.

2019/20 Tuition Fees

Following a number of years of investment in both teaching & learning practices and facilities, the college is better placed to provide the highest level of support to recruit and retain students on undergraduate programmes. Our tuition fees for 2019/20 are as follows:

Awarding Body Programme Type Tuition Fee (2019/20 – first year starters)
University of Bolton PGCE £3000 per year
University of East Anglia Degree & Foundation Degrees £7500 per year
University of East Anglia Top-up Degree £7500 per year

For 2019/20 First Year starter tuition fees are to be set no higher than £7,500 for all Foundation Degree and Degree programmes of study. Fees for Part time studies are based on a pro rata basis. It will be levied to all United Kingdom students and to students who are nationals of any other state of the European Union.

Students studying a ‘Top Up’ Honours Degree ‘end on’ to a Foundation Degree, in the same mode of study, will be regarded as continuing students and therefore fees as per the rate at the start of their studies.

For 2019/20 Teacher Training/ PGCE tuition fees are to be set no higher than £7,500 per programme of study. Fees for Part time studies are based on a pro rata basis. It will be levied to all United Kingdom students and to students who are nationals of any other state of the European Union.

Paying Your Tuition Fees

Tuition Fees are to be paid on your first day of study; either by Student Finance or yourself, if you are financing your studies.

If you are applying for a Student Loan for 2019/20, you will be able to do this from Feb/March 2019. To cover the costs of studying you can apply for;

  • Tuition Fee Loan to cover your tuition fees in full
  • A Maintenance Loan for living costs like accommodation, food, transport costs
  • Scholarships and bursaries from BMC and UoB
  • Extra financial help if you have a disability, children, or adults depending on you.

Full time students have to pay back any loans plus interest once they complete their course and start earning more than £25,000 a year. Part-time students who earn over £25,000 a year have to start paying back their loans after three years even if their course has not finished. You do not have to pay back grants, scholarships or bursaries.

You can contact our student services team for any help regarding finance. Call us for more information on 01664 855279 or email studentservices@brooksbymelton.ac.uk

Maintenance Loan

This loan helps towards living costs (accommodation, food and travel, for example) whilst you study with us.

Students living away from home can receive up to £8,700 (2018/19 award) in support whilst studying at the College though the actual amount received and your contribution to the loan will depend on your household income (though some of the loan can be received without having a household income assessment carried out).

Apply through Student Finance England (SFE) – from Feb/March 2019. Deadline for applications is 9 months after the start of the academic year. Apply before the end of May to get your loan/grant in place for the start of your course.

  1. Register with www.direct.gov.uk/studentfinance
  2. Make a note of your CRN (customer reference number), keep it safe and remember your password
  3. Start filling out the form online – just like UCAS save it each time you log off so you can keep going back to complete it
  4. You are now asked for details of your first choice university and given a calculation of your entitlement. If you change your mind on your uni’ choices you need to change these details
  5. SFE verifies your status using the HM Passport Office – so you need to input your passport number (alternatively you can send them your birth certificate)
  6. Your parents need to input information from the previous tax year using their P60 and other documents
  7. Once completed, check the form thoroughly before submitting it to SFE
  8. Use your CRN and password to check progress, change details or ask questions
  9. If you have problems refer to the SFE homepages or call 0300 100 06 07 (SFE helpline)
  10. For all UCAS and student loan applications quote B92 (Brooksby Melton College number) and then your course code.

You will start repaying your loans the April after you finish your course but will only start repaying if you are earning over £25,000.

You pay back 9% of anything you earn over that £25,000 threshold.

You are charged interest on your loan from the time you get your first payment in higher education until you pay your loan back in full. Your monthly payments are fixed but the overall amount you pay back will increase because interest is added to it. You will pay this interest back by making payments over a longer period of time. You can also repay your loan quicker if you want by making extra repayments on top of your monthly repayments. The amount of interest you are charged varies. The interest rate will change after April 2019.

Your income per year Interest rate on your loan
No Salary while you’re studying Rate of inflation plus 3%
Under £25,000 Rate of inflation
£25,000 – £41,000 Rate of inflation plus a rate of up to 3% depending on your salary
over £41,000 Rate of inflation plus 3%

 

You pay 9 per cent of your income over £25,000.

Your income per year Monthly repayments (including interest)
£25,000 and under No repayments
£30,000 £37.00
£40,000 £112.00
£50,000 £187.00
£60,000 £262.00

 

 

  1. BMC HE Bursary
  • Financial support to students from households with an income of less than £25,000.
    • The total fund for 2019/20 will be £6250
  • Funding for 5 FTEs at £1,250 each in year one of their programme
  • Additional widening participation criteria will be used to prioritise awards which will include lone parents, carers and students from a care background
  • Awards up to £1,250 per full time equivalent (FTE)
    These will be given in the form of:

    • Enrichment Bursary
    • Transport Bursary
    • Accommodation discount

 

2. BMC HE Access to Learning Fund (ALF) (£5000 Bursary Fund)

  • Financial support to students from households with an income less than £30,000 to pay for essential items
    • The total fund for 2019/20 will be £5000
  • Students will be eligible to apply for maximum amount of £500 (or pro-rata for part time students)
  • The bursaries will be used to pay for essential items based on evidence of need:
    • Accommodation
    • Food
    • Transport
    • Study resources

 

Applying for an award

  • If you wish to apply for Brooksby Melton Bursary or the BMC ALF Fund please fill in and submit the BMC Access to Learning Form (along with any evidence requested)
  • This form is available form Students Services or from the website
  • If successful, applicants will only be eligible for one of the BMC Awards

 

Deadline for Applications:

  • 21st September 2019