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 enrol 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.

2018 / 2019 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 starting 2018/19.  The change to our fees is supported by the student body and Student Union.

Awarding Body Programme Type Tuition Fee from 18/19 – 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 2018/19, 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.

For 2018/19, returning undergraduate student tuition fees are to be set no higher than the rates as at the start of their programme of study i.e. £6000. Fees for part-time studies with be based on a pro-rata basis.

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 2018/19, 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 2018/19, you will be able to do this from early 2018. 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 rent (full time students only)
  • Scholarships and bursaries from BMC and UoB
  • Extra financial help if you have a disability or children or adults depending on you

Full time students have to pay back any loans plus interest once you complete your 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 hasn’t 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 855 279 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 £8,200 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 April 2017. Deadline for applications is 9 months after the start of the academic year. If you miss the deadline you can still apply but it just means you might not get your loan/grant at the start of the course but after you start

  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. SFE allows you to transfer some of your data from UCAS to save you time
  5. 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
  6. SFE verifies your status using the Identity and Passport Service – so you need to input your passport number (alternatively you can send them your birth certificate)
  7. Your parents need to input information from the previous tax year using their P60 and other documents
  8. Once completed, check the form thoroughly before submitting it to SFE
  9. Use your CRN and password to check progress, change details or ask questions
  10. If you have problems refer to the SFE homepages, call on 0845 300 5090 or request a free SFE Customer Information Pack via phone or the website
  11. For all UCAS and student loan applications quote B92 (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’re charged interest on your loan from the time you get your first payment in university 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’ll 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’re charged varies.

Your annual income Interest rate
£25,000 or less RPI (currently 3.3%)
£25,000 to £45,000 RPI (currently 3.3%), plus up to 3%
Over £45,000 RPI (currently 3.3%), plus 3%

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

For example, your course starts in September 2019 and you finish in June 2021. In September 2021 you’re earning £29,000. This is £4,000 over the £25,000 threshold. You pay 9% of £4,000 which is £360. This means from April 2022 you pay back £30 per month.

  1. BMC HE Bursary
  • Financial support to students from households with an income of less than £25,000
    • The funding total 2018/19 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
    • The funding total 2018/19 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 ALS Fund please fill in and submit with any evidence requested the BMC Access to Learning Form
  • 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 2018