Where Will the Money Come from?; James Tapsfield Guides You Past the Pitfalls of the Student Loans Jungle

By Tapsfield, James | The Evening Standard (London, England), August 15, 2002 | Go to article overview

Where Will the Money Come from?; James Tapsfield Guides You Past the Pitfalls of the Student Loans Jungle


Tapsfield, James, The Evening Standard (London, England)


Byline: JAMES TAPSFIELD

University is going to cost me, right?

Oh yes. A recent survey found that this summer's graduates accumulated debts of around ?000 by the time they left university - which means on average they will repaying around ? a month. Most of this will be student loans and bank overdraft, relatively low interest affairs. However, many people build up heavy credit card debt towards the end of university and interest payments can be burdensome.

However, before you decide higher education is too expensive, remember that graduates earn on average ?,000 more than nongraduates over their lifetimes, so it's still a good investment. Talk through your financial needs with parents and the university before you arrive; it should be possible to organise things so you aren't constantly worrying where the next rent-cheque is coming from.

Will I have to pay tuition fees?

As soon as your place at university is secured, tuition fees must be arranged with your local education authority (LEA).

Arriving without a confirmation letter could mean paying fees at overseas student rates. The LEA will foot most of the bill, although it may require an annual contribution of up to ?00 depending on family wealth. If your parents' residual income is less than ?480 the contribution will be nothing, but if it is more than ?502 the full amount will be payable.

Prospective students with disabilities, dependants or those who will incur high travel costs may be entitled to extra help.

Initially you must complete form HE1, which is available from your LEA or online at www.dfes.gov.uk/studentsupport /formsandguides. The LEA will assess your eligibility and send form HE2 (see website). Once HE2 is returned, the authority decides fee payments and how much student loan you can receive.

Tuition fees are collected by the university, and most offer the option of paying in instalments through the year.

Changing courses or repeating years may affect support from your LEA, and you will need to fill out a change of circumstances form (see website).

Students generally have to pay their fees for every year, regardless of whether they complete it!

How much are student loans worth, and what about repaying them?

When the LEA has decided how much you can borrow, apply to the Student Loans Company for the money. Maximum loans this year are ?90 if you're living at home and ?05 for those moving away.

Students coming to London receive a maximum of ?15 to reflect higher rent costs. Loans are usually paid in three instalments throughout the year.

Interest on loans is set slightly above inflation, and repayments begin the April after you leave, although if you're still earning less than ?000 a year they can be deferred longer. Annual repayments are nine per cent of earnings over ?000 - so an annual salary of ?000 means ? …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

Where Will the Money Come from?; James Tapsfield Guides You Past the Pitfalls of the Student Loans Jungle
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.