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Cambridge Bursary and Costs - University Publication

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Your basic financial requirements

Despite Cambridge's image, it is not more expensive here than elsewhere. You are guaranteed College accommodation for three undergraduate years (fourth year accommodation is available but limited) and will not need to rent in the commercial markets. Furthermore, you will have no daily fares to pay - everyone walks or cycles!

You will receive a bill at the start of each term from the College Bursary. This bill will include a third of the annual fees appropriate in your individual case, your term's rent, and your term's "kitchen fixed charge" (the set contribution towards kitchen overheads which is likely to be in the region of £113 per term). You will also be charged termly for utilities (gas, electric and water), and computer connections and should budget for approx £380 for the year.

As a rough guide, your October - June maintenance budget (covering room rent, kitchen fixed charge, utilities, food, clothing, entertainment, etc), should be in the region of £7,250. In this, if you are reasonably careful, you should be able to manage.

Fees

There are two Fees: University Tuition Fees and College Fees

Overseas students have to pay both. Home and EU students generally only pay the University Fees (subject to their being eligible for public funding).

Home students arrange their finances via Student Finance (www.direct.gov.uk/studentfinance). EU students can also gain information about applying for finance from here.

It is essential that all Home and EU students go via these channels. Even if you do not want to borrow any money, you must go through these official procedures, or you may become liable to be charged the College Fees (£3,861) as well!

For students normally resident in Scotland, this will be the Students Awards Agency for Scotland (SAAS).

Paying your Tuition Fees (Home and EU students)

In 2010-11 the University Tuition Fee for Home and EU students will be £3,290 (three thousand, two hundred and ninety pounds). Students can pay the fee direct to the College at the start of the academic year, or can take out a loan from the Student Loan Company (via Student Finance for Home students and Student Finance EU for European students) for the whole amount, deferring payment until they are earning a minimum salary.

Paying for your Maintenance costs (Home students only)

Maintenance Grant

There are other costs you will need to consider whilst at university, (rent, food, books, living expenses etc). You may be eligible for a Maintenance Grant which will help with your living costs throughout the academic year. If so, you can get up to £2,906 which you will not have to pay back. The amount of grant available is dependent on your parent/guardians household income. If there is less than £25,000 household income then you will qualify for a full grant. If there is more than £50,000 you will not qualify for any grant. Please note that the amount of Maintenance Grant received will affect the amount of Maintenance Loan you can borrow.

Maintenance Loan

This loan should help cover your living costs whilst at university. If you are eligible to receive student finance then you will also be eligible to apply for a Maintenance Loan. Again, the amount available to you is dependent on your household income.

Repayment of your Loan

You will have to repay your Tuition Fee Loan and the Maintenance Loan* - but not until you finish your degree (or unless you leave). It is collected by the Inland Revenue at the rate of 9% but the repayments do not start until you are earning at least £15,000 p.a. or £228.00 per week. If at anytime your income falls below the £15,000 threshold your loan repayments stop.m The most accurate and up-to-date website is www.studentloanrepayment.co.uk.

*Government Maintenance Grants

Students from lower-income households are eligible for a non-repayable Government Maintenance Grant of currently up to £2,765 p.a. The exact amount is dependent on your family's income and assessed by the LEA or award agency. Receipt of a Maintenance Grant will reduce the amount of Student Loan you can receive, by up to £1,230.

Currently students from households with incomes up to about £37,500 will receive all or part of this Maintenance Grant. Those from households with incomes above this threshold will receive no Grant.

The Cambridge Bursary Scheme

To coincide with the increase in Fees, the University and Colleges of Cambridge introduced the Cambridge Bursary Scheme (for Home students only). The value of each Bursary is based on parental income, and calculated on a sliding scale up to a current maximum of £3,400 p.a (or a maximum of £5,650 p.a. for some mature students). Cambridge Bursary application forms will be given to fresher's on arrival. The Bursary will be paid in two equal installments, usually by deduction from the College bills at Christmas and Easter.

Clare College's own Bursaries

As part of the Cambridge Bursary Scheme, Clare College provides a number of bursaries to help Clare students in their first year, and some of these are potentially renewable for further years. In practice, most students awarded a Cambridge Bursary receive some part of it from College and some part from University funds.

Help with your Maintenance Costs (EU students)

The Cambridge European Trust is able to offer limited assistance to some EU students. The College will send out an application form once you have been offered a place.

Overseas Students

Overseas student's University Fees for 2009-10 will be:

£9,747 (Band 1)

£12,768 (Band 2)

College Fees for 2009-10 will be £5,305.

Maintenance Costs

The Cambridge Overseas Trust is able to offer limited assistance to some Overseas students. The College will send out an application form once you have been offered a place.

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