Preparing your finances

financesFind out more about the support that may be available to you during your full-time Fastrack studies and who you can contact for advice and guidance.

If you haven’t done so already, now is the time to make sure that your finances are in place for your undergraduate degree study. This will ensure that you receive your funding on time and your transition to university life runs smoothly. Find out more below.

Financing Fastrack

The Fastrack Programme is offered free of tuition fee charge to applicants from the UK and EU. However, there may be a cost if you are classed as an International student for fees purposes.

Edge Hill University are committed to providing support for students while studying on a Fastrack course. Whilst there is no funding from the Government for this programme, we may be able to assist you with travel and childcare costs. Alternatively, if you live some distance from the University we may be able to subsidise on-campus accommodation costs.

Eligibility for funding

Funding is available for students that meet the pre-defined criteria outlined in the Fastrack Eligibility Criteria Presentation.

Funding is available to eligible* students, as a contribution towards the cost of:

  • Travel to University – for days in attendance
  • Childcare costs for the days attending the course (over and above any free childcare provision)
  • Support towards Edge Hill Hall Fees – only considered if travel costs are more than £74 per week.

*Please also note – whether you are entitled to a payment from the fund will be depend on an assessment carried out on your gross income and if applicable your partner’s gross income.

Eligibility Criteria

Funding is available for students that meet the criteria outlined below:

  • In receipt of Working Tax Credits
  • In receipt of an NHS Tax Credit Exemption Certificate
  • In receipt of Housing Benefit
  • In receipt of the maximum rate of Child Tax Credit
  • In receipt of income or contribution based JSA
  • In receipt of income or contribution related ESA
  • In receipt of Universal Credit basic allowance, housing or child element

Funding is also potentially available for students that receive gross income from paid work or from a pension income.

The income thresholds depend on whether a person is single, living with a partner or has children.

The following eligibility thresholds relate to the gross income over the last 12 months before the start of the June Fastrack Course.

Please note if you are not in paid employment during the Fastrack course your income will be classed as zero and will not be included in the assessment of your Household Gross income. Evidence will be required that you are no longer in employment, for example a P45 or letter from your previous employer.

Thresholds for Fastrack Fund Eligibility:

Category

Category Gross Income Threshold Additional Children
*For each extra child the threshold is increased by £2000
Single £16,845 or less
Single parent and one dependent child £18,845 or less 2 children = £20,845 or less
3 children = £22,845 or less
4 children = £24,845 or less
Student and partner £18,845 or less
Student and partner and one dependent child £20,845 or less 2 children = £22,845 or less
3 children = £24,845 or less
4 children = £26,845 or less

For example, a single person without children will have earned a gross income during the last 12 months, of £16,845 or less to qualify for help from the fund for travel to and from university for the 30 days of the course.

Please refer to the Fastrack Financial Support Application Form or PowerPoint presentation for further details.

Financial planning during Fastrack

It is a good idea to consider a plan for day to day costs such as food and other living costs for the six weeks course and beyond.

In addition, if you are eligible for a contribution to travel or childcare, the fund pays in two instalments during week 2 and 4 of the course.

We have compiled a list of resources to help you with budgeting. It’s never too early to start thinking about your finances, so have a look at these webpages and read some useful tips.

How to apply to the Fastrack Fund

Please complete the Fastrack Fund Application Form. The Money Advice Team can accept applications with the relevant evidence from Monday 6 May.

You can submit the form in various ways which are detailed on Fastrack Eligibility Criteria Presentation and on page 6 of the actual form.

The final deadline for all forms and evidence to be submitted is Wednesday 5 June.

Please refer to Fastrack Eligibility Criteria Presentation and Fastrack Fund Application Form for further details. In addition, the Money Advice Team will be available at the Fastrack Enrolment Day. Other ways of contacting the team are available on the Money Advice website.

In addition, if you have any further queries about Fastrack funding, please do not hesitate to contact the Money Advice Team directly on 01695 650800 or by emailing CatalystEnquiries@edgehill.ac.uk.

Financing your undergraduate study - apply now

If you intend to get help with paying your undergraduate tuition fees and living expenses for your degree, now is the time to make sure that loans and grants are in place. This will ensure that you receive your funding on time and your transition to undergraduate life runs smoothly.

If you have not yet applied for help with financing your undergraduate studies, you should apply immediately at www.gov.uk/student-finance. The process can take some time and there is a deadline of Thursday 31 May, so it is important that you do not delay with making your application.

If you have any questions about fees and finance, contact the Fees, Scholarships and Bursaries Team by emailing TuitionFees@edgehill.ac.uk.

Scholarships

The Scholarships Officer can provide help and advice about the range of scholarships that we offer. Fastrack students progressing to undergraduate study at Edge Hill are eligible for the Excellence and Sports scholarships.

Students are also eligible for the the Student Opportunity Fund, which supports opportunities to undertake course-related activities, volunteering and internships, enhancing employability.

For further information on scholarships and the student opportunity fund, please contact scholarships@edghehill.ac.uk

Opening a student bank account

Visit www.moneysavingexpert.com/students/Student-bank-account to see a useful comparison of all of the different student accounts that may be available to you.

Budgeting

The Financial Support Team at Edge Hill have created a handy budget planner. You can input your income and expenditure, and find out how much money you’ll be left with after you’ve paid for all the essentials.

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