If you are thinking about study, full, part time or distance learning, you will need to think about the financial implications of your plans.
Some courses are free such as those to help improve reading, writing and maths skills; for others you will need to pay towards the cost of your course. You may also have to buy materials / books, consider travel arrangements and childcare if necessary.
If you are on benefits such as Jobseekers Allowance or Income Support, your course fees may be reduced or waived. Everyone is treated individually so you would need to talk to your local college about your situation.
Your nextstep adviser can help you find out about the cost of courses and look at whether there is any funding available. Call 0845 068 1400 to speak to an adviser.
Here are some sources of funding which you may want to investigate further:
Career Development Loans
You can borrow between £300 - £8000 to help you pay for up to two years study on a vocational (job related) course. The loan is the same as an ordinary bank loan but you do not have to start repayments until a month after your course finishes.
For further details see www.lifelonglearning.co.uk/cdl
Educational Trusts and Charities
Sometimes funding may be available through local trusts and charities. Awards tend to be made on an individual basis to cover the cost of materials, books, transport etc.
Your nextsteps adviser can help you find out more about sources of funding available. You may also be able to find details in your local library.
Learner Support Funds
Further Education colleges have some funds to help students who experience financial difficulties whilst on their course. The student awards section at your college will be able to tell you more about these funds and how they can be accessed.
Thinking about Higher Education?
There are two costs you would need to consider:
- Tuition fees
- Your living expenses
From September 2006 universities will be able to charge up to £3000 per year in tuition fees. Fees may vary between institutions and courses. You take out a loan to cover your fees; this is then repaid once you graduate and are earning above a certain amount.
You can find out more about these changes and how they will affect you on www.dfes.gov.uk/studentsupport
To help towards living costs, you can apply for a student loan. These are open to adults up to the age of 50, and up to 54 if you intend to return to work after your course. How much you get depends on where you study and income.
Find out more from the Student Loans Company on www.slc.co.uk
Studying part time
At present there are some special measures in place to help part time students with the cost of their study. This includes non- repayable grants of up to £575 to cover course fees and £250 towards course costs. These are dependent on income and are only available to students who are studying the equivalent of at least 50% of a full time course.
However these details may change; check current details on – www.dfes.gov.uk/studentsupport
More help available for higher education students
Adult Dependents Grant – if you have a spouse, partner or other adult family member who is dependent on you, you may qualify for this grant. How much you get depends on your income and that of your dependents.
Parents Learning Allowance - if you are studying full time but have dependent children you may be able to get this. How much you get depends on your household income.
Childcare Grant – this is to help full time students with the cost of childcare.
Child Tax Credit - if you have dependent children you may be able to get child tax credit. To find out if you are eligible call 0845 300 3900 or visit www.hmrc.gov.uk
Disabled Students Allowance (DSA)
DSAs help with costs you incur as a direct result of your disability. They are available to full-time and part-time students with disabilities although part-time students must be studying at least 50% of a full-time course. You can find out more on www.skill.org.uk
Studying social work or a health related course?
There is extra financial help available for students on these courses. Check out these links for details:
www.gscc.org.uk - for social work bursaries
www.dfes.gov.uk/studentsupport - for health related courses
Information on funding can change. Please check the sources listed for up to date details.