Open University - Help with course fees.

Bedz

Hi guys, I've been reading through varies articles regarding student finance etc and had a few questions that you might be able to help me with.

Firstly let me describe my situation. I'm 19 and looking to start a degree in Law with the open university in February. I chose not to join a 'normal' university firstly because I'm not really interested in the social aspect of it, and secondly because of the costs involved. Living at home and studying with the Open University will cut the costs of obtaining a degree greatly, however I'm not sure if I'm entitled to help with my course fees.

I am currently on JSA after leaving school, I didn't want to do this but the authorities put the rent up and I have been unable to find work. I am currently living with my mother, and our total household income is around £4000 [she works part time as a child care assistant].

The total cost of all courses is £9290, but depending on whether I choose to study part time or full time this will take either 4 or 6 years to complete.

Due to my low household income would I be eligible for any financial aid?

Also how likely are banks to offer me a loan to cover course costs considering I will be studying with the Open University and not an 'actual' university?

Thanks for your time guys.

iwanttosave_2

I presume you are in England.

http://www3.open.ac.uk/coursefinance/

anewman

I don't think you would get any help with the OU unfortunately. Some banks will give professional development loans and so on but you need to be sure it's going to get you a job at the end of it.

My advice would be to go to a proper uni. As you're low income you'll be entitled to the most support possible. Don't worry about social stuff, you can be as much or as little a part of drinking and all that stuff as you like. I'm not the most social of people and went to University.

Hopefully someone with more knowledge of OU and funding will reply - but to start with why not ask the OU? THey're likely to be aware of all the money available to help you and it's in their interest to tell you about everything possible as they get money out of it in the end.

Edit: just looked at iwanttosave's link. I personally think you would be better off financially at a proper uni. OU would be helpful if you were working and wanted to integrate the study with work. Any loans you get will be more favourable. I.e. they will not have commercial rates of interest and youll only be expected to pay anything back when you earn over a certain amount.

iwanttosave_2

You do get help from the OU. It will be getting help from the bank that will be more trouble.

Bedz

Thanks for the quick reply! I am however still slightly confused.

Financial_Support wrote:

inancial Support

For students resident in England or Northern Ireland.

From the information you have provided it appears that you could be eligible for the maximum award which would be:

* Your fees paid up to a value of £1125 for courses totalling 90 or more credit points
* A course grant of £250 to help with study expenses.

If you intend to study a course where the fees are higher than £750, for example Business or Law, we will top up the government fee grant. This top up will cover the whole fee if you get a full award or a proportion of the fee if you get a partial award. You will only receive this additional support for one such high fee course per year.

So assuming my situation stays the same will I have my fees paid for me completely? If I were to study part-time and have a full-time job that pushed my household income higher would my eligability for financial aid be affected?

iwanttosave_2

Bedz wrote:

Thanks for the quick reply! I am however still slightly confused.



So assuming my situation stays the same will I have my fees paid for me completely? If I were to study part-time and have a full-time job that pushed my household income higher would my eligability for financial aid be affected?

Yes completly and have a £250 non-repayable grant for each course. if your income does go higher during a course, it doesnt matter untill you apply for the next one. But even so, you may still be eligeble.

Bedz

Oh that's brilliant! Thanks a lot, I'll be requesting more information from the OU about this but I'm very excited now.

Some of the courses are worth 60 credit points and cost £1720, so for someone in my circumstances without this funding there would be no chance of studying.

I can't wait until my Mum gets home to tell her!

anewman

Oh and I just noticed I said "proper uni" - was of course not meaning that the OU isn't a proper uni, just that it's not one you travel to. My mistake

saintstreaky

As well as the £250 grant you can also get £250 towards a new computer, if a) you haven't already got one with a suitable spec; and b) it's compulsory to have one for your course. This appears to be the case for the introductory law course W100. The OU will let you have details if/when you sign up for it.

Savvy_Sue

Bedz wrote:

I chose not to join a 'normal' university firstly because I'm not really interested in the social aspect of it,

Well, I have to say I think you could be making a big mistake here! I understand what you're saying, and maybe it won't be so bad if you get a part-time job, but developing your social skills is a necessary part of 'growing up', and studying mostly alone can become quite daunting.

The social aspect does not have to include spending lots of money or drinking and clubbing - my son's managed to make friends and have a great time without doing any of that. And he's not the most sociable of creatures.

I'm probably going to sound awfully patronising here, which I don't mean to, but I can't help it! You're still quite young, and going to a 'regular' university can be a useful stepping stone / springboard between living at home and living independently. Even if you stay at home and go to the local university, your horizons will be broadened. I'm not saying that won't happen with the OU, just that I feel it's an awful lot easier for it to happen in the 'regular' setting.

And it sounds as if the finances might not be the problem you think, either. Have you read Martin's new article on Student finance?

I just wonder if when you've finished a degree with the OU you'll be at a disadvantage with potential employers because your life experience might not be as broad as those who've gone to University. Of course if you can get a relevant job that might not matter. But it might ... and then it's a bit late to do anything about it.

I'm not knocking the OU: I think it's a fantastic institution, and for people who can't go off to Uni there's nothing quite like it! I also think you have to work darned hard to get good results with them, and I'm full of admiration for those who do it.

But in your situation, I'd really encourage you to look long and hard at the 'regular' alternatives before committing yourself!

newmum1

my Aadvice to you would be to apply to the uni i study there at the moment and as another poster said you will be entitled to th £250 no repayable grant plus from your circumstances it would look as though you will get maximum financiel help although you may need to contribute something.
Also the course have individual fees so spread out over say six years would make it a lot easier financially, as you could get a part time job to help you out.