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Embargoed until 00:01 Monday 7 November 2011 - Student Loans Company launches finance calculator for student support

Embargoed until 00:01 Monday 7 November 2011 - Student Loans Company launches finance calculator for student support

News Release issued by the COI News Distribution Service on 04 November 2011

The Student Loans Company has today launched the official finance calculator to help students in England considering going to university in 2012/13 see what funding will be available to them.

The Student Loans Company is responsible for the processing and payment of all loans and grants for students in England and has worked with universities across the country to collate the information.

Nichola Malton, assessment manager at Student Loans Company, said:
"Other student finance calculators show how much graduates will repay under the new scheme, but the Student Loans Company calculator is the first to show students how much support they can get upfront to help them with the new university fees, by course and university.

"The more information they give, the more accurate the estimate will be so we would encourage all students who are considering going to university next year to check it out.

"Our calculator gives the best indication possible of the support that might be available for student loans and grants next year.

"We've worked with all the English universities to get the most up to date information available on the tuition fees they will be charging next year, as well as scholarships and bursaries that may be available."

Under the new student finance scheme, students can apply for tuition fee loans to cover the full cost of your tuition university fees as well as funding for maintenance loans, which they will repay with interest once they are earning over £21,000.

Depending on their household income and other circumstances, students may be entitled to a maintenance grant and additional grants which they do not have to repay.

Prospective students can go online from now to get an estimate of the financial package they could receive: www.direct.gov.uk/studentfinancecalculator

Applications for student finance will open early 2012.


ENDS

For press enquiries, please contact Rona Cameron/Breea Keenan at the Student Loans Company Press Office: 0141 306 2120

Note to Editors:

The Student Loans Company is responsible for:
* Paying grants and loans to eligible students
* Processing and payment of all English students' loan and grant applications
* Paying tuition fees to universities and colleges in England, Wales and Northern Ireland
* Administering the payment of bursaries and scholarships on behalf of universities and colleges throughout the UK
* Working with HMRC to collect payments for income contingent loans
* Managing the direct collection of payments for mortgage style loans

Contacts:

NDS Enquiries
Phone: For enquiries please contact the issuing dept
ndsenquiries@coi.gsi.gov.uk

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