back to school (jacking in the city life to teach maths)

BFM

looks like i'm going to be made redundant - fortunately i am due to get an enhanced payout which will enable me to go a couple years with no/little income while I do my PGCE and start to ramp the beginning teacher salary a little. becoming a teacher is something i've had in the back of my mind for a few years, but don't think i would ever have been brave enough to quit my job and good income to retool and start again. I have a degree in Maths and have been working for approx 15 years in the city since i graduated.

with the redundancy package and other savings we have I don't think i would be eligible for any means tested benefits if i was unemployed rather than a student. I have two small children and mum stays at home to look after them - at least for the next couple of years

From initial research I believe studying for a PGCE in Maths has a bursary of £9k, and my fees will be approx £3k.

so the question I have is what other costs or incomes should i be aware of in going down this route, ie. should I be eligible for some council tax discounts as a student, I assume I can't get even the cont based JSA as a full time student - although is that from the time the course starts, or once I manage to get accepted on a course? Are there any super interest paying bank accounts for students, what is the criteria for getting a student loan and is it worth getting one out if i don't need the cash. What else is out there that I can take advantage of as a mature student?

GotToChange

There may be an element of "dependents allowances" built into loan/bursary eligibility - although I am not too sure if/how this may be affected by your redundancy package.

As a full-time student, you will not be liable for Council Tax so this will reduce the CT bill by 25%.

Even if you don't take out the loan, you will be presumed to have done so when - in your case in the unlikely event of - needing any further financial assistance, so people have been know to stash it into an ISA and look into repaying as soon as, although I'm not too sure of the rule re. repaying.

You are in an enviable position with the existing degree (so "only" needing a PGCE*), course that attracts funding, opportunity to start before fee increase and redundancy package (I imagine that's why little response to your questions....).


*Incidentally, I think you can do a PGCE through the OU so that could be a route to maybe look at too.

BFM

GotToChange wrote: »

There may be an element of "dependents allowances" built into loan/bursary eligibility - although I am not too sure if/how this may be affected by your redundancy package.

As a full-time student, you will not be liable for Council Tax so this will reduce the CT bill by 25%.

Even if you don't take out the loan, you will be presumed to have done so when - in your case in the unlikely event of - needing any further financial assistance, so people have been know to stash it into an ISA and look into repaying as soon as, although I'm not too sure of the rule re. repaying.

You are in an enviable position with the existing degree (so "only" needing a PGCE*), course that attracts funding, opportunity to start before fee increase and redundancy package (I imagine that's why little response to your questions....).


*Incidentally, I think you can do a PGCE through the OU so that could be a route to maybe look at too.

appreciate your response.

I'm not expecting a huge amount of help as, like you said, i'm clearly in a decent position compared to your typical student. just want to make sure i don't leave anything available to me on the table, and probably more importantly am aware of any outgoings that might not be immediately obvious other than course fees.

Oldernotwiser

As you've been made redundant, you can claim contributions based JSA from when you finish work until you start university, for up to 26 weeks, as long as you sign on regularly and are actively seeking work (or appearing to!) Any other benefits will be means tested on other income and savings.

You might also be interested in finding about the Graduate Teacher Programme, where you're employed as an unqualified teacher while you train.

http://www.tda.gov.uk/get-into-teaching/teacher-training-options/gtp.aspx

BFM

Oldernotwiser wrote: »

As you've been made redundant, you can claim contributions based JSA from when you finish work until you start university, for up to 26 weeks, as long as you sign on regularly and are actively seeking work (or appearing to!) Any other benefits will be means tested on other income and savings.

You might also be interested in finding about the Graduate Teacher Programme, where you're employed as an unqualified teacher while you train.

http://www.tda.gov.uk/get-into-teaching/teacher-training-options/gtp.aspx

thanks, i looked at GTP but with absolutely no classroom experience it apparantly would be difficult - would essentially be going against folks who had that. also my most convenient place to study didn't have GTP for Maths - which surprised me as everything I've read suggests Maths is one of the subjects they are crying out for teachers in, so just assumed that if there was one subject that would be available it would be maths. but no...

BFM

and wrt conts based JSA - is looking for contract / temp work between getting a place and actually starting good enough to claim, or do you have to be really looking for proper full time employment?

Oldernotwiser

BFM wrote: »

and wrt conts based JSA - is looking for contract / temp work between getting a place and actually starting good enough to claim, or do you have to be really looking for proper full time employment?

Looking for temp work is fine.

Oldernotwiser

BFM wrote: »

thanks, i looked at GTP but with absolutely no classroom experience it apparantly would be difficult - would essentially be going against folks who had that. also my most convenient place to study didn't have GTP for Maths - which surprised me as everything I've read suggests Maths is one of the subjects they are crying out for teachers in, so just assumed that if there was one subject that would be available it would be maths. but no...

Not sure what you mean about "most convenient place to study" as GTP places are based in schools.

Also, if money is a problem (I know you said not), you could look at doing a flexible PGCE with the OU, alongside work.

http://www3.open.ac.uk/study/undergraduate/course/exm880.htm

slummymummyof3

Have you thought about volunteering in a school? You will be required to spend time in a school prior to starting your PGCE regardless. If you made it a regular thing, it may pay off as far as the GTP route goes - the school you volunteer in may offer you a position!

GotToChange

Just to add - even though you aren't going the OU route - they operate a programme of work experience for Science undergraduates, where you (and it is up to you to find the school) work alongside a teacher for a two week period. You will receive a bursary but the experience will be of agreat value. Not sure if there is a Maths equivalent running alongside the PGCE that they offer; I think there may be as I was sent details of it when studying simply Maths (have now added Science).

As for other outgoings you may have, I think that may well be an individual thing and that others may be better placed to advise you. There will be alternatives to out and out purchasing required course texts I'm sure and of course, get yourself a NUS card (outlay £10). Mostly I think though that things are cheaper for students, not more expensive and, to say again, your situation is quite enviable and I can see that it should be financially "do-able" with clever planning and family co-operation.

mrcow

The bursary is tax free and is paid monthly. If you're looking to start in September though, you'll need to be quick with your application as courses are filling. I went down a PGCE SCITT route as opposed to a university and as a mature student, it was a much better option for me personally.

One of the main things about a successful application is to get experience. Get some in-school time and do it soon. It will give you a good idea as to whether this is what you really want to do. It also gives you something to talk about in your interview.

Financially you are also eligible for a student loan and possibly a maintenance grant depending on household income. You can get a loan for your tuition fee too, so don't have to worry about raising it immediately.