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Student Finance
All education is an investment. There are fees and costs involved in practically all courses and programmes, whether you are taking part in higher education, further education or corporate training. Course fees are generally the first thing people think of, but there are also course materials, travel, food and sometimes accommodation costs to be paid for. Many people considering an education course in Northern Ireland have to weigh up the costs involved before deciding what to do.
There are a number of ways in which interested students can finance their courses and gain skills and qualifications to earn more money afterwards. That is what an investment in education is about – putting in a little now to reap the rewards in the future.
While at college or university in Northern Ireland there are two main costs to pay: tuition fees and living costs. Full-time students in Higher Education have to contribute towards their tuition - since September 2006 colleges and universities are permitted to charge full-time undergraduate students up to £3,145 a year. There are no tuition fees for full-time students in Further Education.
Living costs in Northern Ireland are relatively low, the British Council attribute NI with the lowest cost of living in the UK. Personal expenses (not including tuition fees) for students in Northern Ireland are estimated to be between £5,500 and £7,000 a year by Queen's University, but this is obviously dependent on the tastes and lifestyle of the individual student.
Students from families under a certain income level are entitled to a government grant with regard to tuition fees and cost of living. Supplementary government grants for students in particular circumstances - Adult Dependants Allowance, Disabled Students Allowance, Childcare Grant, and Parents’ Learning Allowance – are also available. To apply for these aids you should contact your local Education and Library Board (ELB) once you complete your UCAS application.
Other sources of financial assistance include student loans with lower interest rates and flexible repayment schemes - repayable when the graduate is earning a minimum of £15,000 a year, and written off after 25 years if still unpaid; scholarships; college bursaries - depending on parental income; part-time work; and of course, help from parents or other family members.
There are two types of student loan available: a maintenance/living cost loan that is partly dependent on parental income and which in 2007/08 will have a maxmimum of €4,625 for students living away from home and €3,580 for students living at home. And a fees loan of up to €3,145 that is not dependent upon family income and which may be used to cover fully or partially the cost of fees.
Each university and college administers ‘Support Funds’ which is aid for students who fall into financial difficulties during their studies.
Important Links
Student Finance Northern Ireland
Education & Library Boards (ELBs):
Belfast
North Eastern
South Eastern
Southern
Western
