Graduate funding on a 5 year course

Just wondering if anyone on tsr is a graduate currently on a 5 year course - currently trying to budget to see if a 5 year course is financially viable.

How much maintenance loan do you get per year? What other sources of income do you have?

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Reply 1

Greg9874

Original post by Ben4757

Ive just had trouble with funding from student finance this year because I have other higher education qualifications.. They haven't given me a tuition fee loan so I've got to pay £9k of my own cash. I recommend calling SFE. They'll sort you out

Reply 2

Ben4757

Original post by Greg9874

As in a masters? How much are you supposed to be eligible for? Cheers

Reply 3

Greg9874

Basically I've got an Associates degree and I'm currently doing a Batchelors.

From what I could comprehend we're eligible for 4 years full time tuition funding from the UK government and nothing after that..

Reply 4

Ben4757

Original post by Greg9874

Just called Student finance and thought I'd update for anyone searching for the same answers.

For 2016 entry for a 5 year UG course as a graduate in years 1-4 you are eligible for:

Outside London:
up to £8,000 means tested maintenance loan

In London:
Up to £10,000 means tested maintenance loan

Non-means tested amounts have not yet been released.

Hope this helps someone!

Reply 5

Lethorio

Original post by Ben4757

Would that £8000/10000 be used to pay the tuition fees, or is that in addition to tuition fees being covered?

(edited 8 years ago)

Reply 6

ForestCat

Original post by Lethorio

Would that £8000/10000 be used to pay the tuition fees, or is that in addition to tuition fees being covered?

You don't get tuition fee loans as a graduate on a 5yr course. You could use the larger loan to help pay fees or use it solely for living costs, but you have to pay £9k up front for tuition fees for each of the first four years.

Reply 7

Ben4757

Original post by Lethorio

Would that £8000/10000 be used to pay the tuition fees, or is that in addition to tuition fees being covered?

There is no loan to cover tuition fees. That 8000/10,000 is a maintenance loan.
I suppose there is nothing stopping you from using it to pay your fees, but you'll still need to live!

Reply 8

Lethorio

I just called SFE and the guy told me you can have up to £4565 a year for four years, as well as your tuition fees being completely covered. He didn't see to know what he was going on about, though.

Reply 9

Ben4757

Original post by Lethorio

I just called SFE and the guy told me you can have up to £4565 a year for four years, as well as your tuition fees being completely covered. He didn't see to know what he was going on about, though.

Yeah, sounds like he doesn't have a clue. Maybe he was talking about GEM?

Reply 10

Lethorio

Original post by Ben4757

Yeah, sounds like he doesn't have a clue. Maybe he was talking about GEM?

Nah, he was definitely talking about the undergraduate course. He put me on hold at least 7 times to check all the information out. I'll probably have to call back at some point and get an answer from someone that knows what they're talking about.

Reply 11

theresheglows

Original post by Ben4757

These amounts seem a bit high unless they've changed things, around £5600 for outside London is what I'll be getting this coming year, and I qualify for the maximum amount of maintenance loan. The numbers you get on the website and when you phone them are always higher than what you get on your award notice when you actually apply.

Reply 12

theresheglows

Original post by Lethorio

I just called SFE and the guy told me you can have up to £4565 a year for four years, as well as your tuition fees being completely covered. He didn't see to know what he was going on about, though.

Definitely wrong, the helpline people often are, they aren't the actual ones who make the assessments. You don't qualify for a tuition loan as a graduate on a 2nd undergrad degree (of any sort, but including medicine unless it's a GEP), but you can get a maintenance loan of around £4000-6000 a year.

Reply 13

Ben4757

Original post by theresheglows

They have increased the amount of loan for 2016 entry, the amounts I said are the new amounts. Just had this confirmed on the phone!

Reply 14

Ben4757

Original post by theresheglows

Yep, totally correct for pre-2016. Amounts now increased for 2016 entry.

Reply 15

theresheglows

Original post by Ben4757

Yep, totally correct for pre-2016. Amounts now increased for 2016 entry.

Alright for some! :tongue:

Reply 16

Ben4757

Original post by theresheglows

Alright for some! :tongue:

Haha, I hope I have need to take the loan out!

Reply 17

hoonosewot

I'm gonna cap this for emphasis:
DO NOT BELIEVE SFE IF THEY TELL YOU YOU CAN HAVE A TUITIONS FEES LOAN.

As a grad on a 5 year you 100% definitely cannot get your tuition fees covered, you only get a maintenance living costs loan. I was told by one of the SFE callcentre morons i could get tuition fees covered as i never claimed the loan for my first degree, and it turned out to be nonsense.

What happened to me (and has happened to others) is they were wrongly awarding TF loans for the 5 year degree, then when SFE review it down the line and discover the error, they withdrew the funding retrospectively. That meant i had 3 years of TFs paid for with loans, which they then withdrew in my fourth year, plunging me into 9K of debt to the uni overnight and leaving me 3 weeks to find the £3k for my fourth year.

WIth the TFs now being £9K a year, you really can't afford to let that happen to you (i made up for it with a Professional Development Loan but those are max £10K).

If you wanna do a 5 year degree now you will need to find £36,000 in cash to pay your TFs for the first 4 years i'm afraid.