Student Finance Help

BashamandCo

Hi All,

I am starting a degree with the Open University next month and want to know what (if any) financial benefits I am entitled to. I am studying a BA Hons degree with a view to becoming a teacher. I am single, live alone and will be working part time at two to three days a week with an income of around £20,000 to £25,000 a year. I will be looking to take out a student loan to pay for the course but wonder if there is any chance of receiving any financial help with the cost of the course or benefits to help with my regular outgoings as a student?

Any advice will be appreciated.

Thank you!!

Xen6

If it's your first degree you're entitled to a student loan. This is dependent on your/your parents income. (It assumes your parents will assist with funding you through Uni).

If you put in all these details in the process of applying for the loan, it will tell you what the maximum loan + grants are that are available to you.
Website here: http://www.studentfinance.direct.gov.uk/portal/page?_pageid=153,4680119&_dad=portal

They have helpful calculators to tell you what you are entitled to. It's actually really late to apply for SF, so you'll be lucky to receive anything until after you've started your course.

Unis often have scholarships and bursaries you can apply for, best to check with the institution.
Also, some companies offer sponsorship.

Dunroamin

Xen6 wrote: »

If it's your first degree you're entitled to a student loan. This is dependent on your/your parents income. (It assumes your parents will assist with funding you through Uni).

If you put in all these details in the process of applying for the loan, it will tell you what the maximum loan + grants are that are available to you.
Website here: http://www.studentfinance.direct.gov.uk/portal/page?_pageid=153,4680119&_dad=portal

They have helpful calculators to tell you what you are entitled to. It's actually really late to apply for SF, so you'll be lucky to receive anything until after you've started your course.

Unis often have scholarships and bursaries you can apply for, best to check with the institution.
Also, some companies offer sponsorship.

I'm afraid that none of that is relevant to OU study which is, by definition, part time.

To the OP, what additional costs do you envisage?

rojar123

As a full-time undergraduate student at university or college, you'll normally have to pay for your tuition fees as well as your living costs for the duration of your degree. You can apply to Student Finance England (SFE) for loans and grants to help with these costs.

BashamandCo

After some research I see that OU is indeed only classed as part time study and that I would not be eligible for a grant.

Maybe my brain is stuck in the old days a bit but should there not be some kind of funding for someone who is leaving full time work to study a degree?

I see there are postgraduate bursaries available to graduates training to become teachers. But teaching aside, is there no chance of any financial benefit for a mature student working part time with a low income?

Many thanks.

Dunroamin

BashamandCo wrote: »

After some research I see that OU is indeed only classed as part time study and that I would not be eligible for a grant.

Maybe my brain is stuck in the old days a bit but should there not be some kind of funding for someone who is leaving full time work to study a degree?

I see there are postgraduate bursaries available to graduates training to become teachers. But teaching aside, is there no chance of any financial benefit for a mature student working part time with a low income?

Many thanks.

You shouldn't be leaving full time work, that's the whole point of the OU and always has been. You carry on with your normal job and study in your own time - it's been that way for over 50 years!

BashamandCo

I have chosen to work part time so I can study at the OU full time, in my own time and complete the course in three years and not six and hence be in a position to train as a teacher sooner.

Dunroamin

BashamandCo wrote: »

I have chosen to work part time so I can study at the OU full time, in my own time and complete the course in three years and not six and hence be in a position to train as a teacher sooner.

Which is fair enough and, if you can afford it, your decision.

As you seem to be able to earn a good salary for only 2/3 days' work, extra funding doesn't seem essential but, if it is, perhaps you should consider studying with a bricks and mortar university, where full time study is funded by loans.

sarahlouisexo

Student finance don't support any Open University qualifications, and there are no grants from the OU available - if you choose to do OU you must be able to completely fund yourself.

Loppy42

There are some organisations that give grants to teachers in training who can not afford the course costs and there are also some government incentives for teachers to train in subjects where there are shortages, such as Maths and Physics.

Check out The Scholarship Hub for the former and The Department for Education for the latter.

Dunroamin

Loppy42 wrote: »

There are some organisations that give grants to teachers in training who can not afford the course costs and there are also some government incentives for teachers to train in subjects where there are shortages, such as Maths and Physics.

Check out The Scholarship Hub for the former and The Department for Education for the latter.

The OP is looking to fund his undergraduate degree, not his teacher training.