► Financial Advice

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Finance

Running out of money is a common problem for many students. At UWIC we expect this and understand that this can happen. This page will hopefully help answer some of your queries.

Loans & Fees
Grants and Bursaries
Postgraduate Students
PGCE Students
International Students
The Financial Contingency Fund
Council Tax

If you have any other problems or would like to speak to someone about your financial situation then please contact the Student Financial Advisor:
 
Student Services
The Student Centre
Western Avenue
Cardiff, CF5 2YB
Tel: +44(0) 2920 41 6170
Fax:+44(0) 2920 41 6950
Email: pebarker@uwic.ac.uk

Loans & Fees
A student loan is money that you borrow, that you must then repay. It can be used to pay your tuition fees, and living costs while you are in university. You do not start repaying this loan until you have graduated from your course and are earning over £15,000 per year. Repayments are made directly from your salary and information regarding the repayment of your loan can be found by clicking HERE.

There are two different types of student loan available; a maintenance loan, to assist with living costs, and a tuition fee loan, to assist with the payment of tuition fees. You do not have to take out a tuition fee loan-you may decide to pay the fees yourself. However, if you do apply for a tuition fee loan then it will be paid directly to UWIC, and the amount you receive is dependent on the tuition fee grant you are entitled to (see the ''grants'' section).

The student maintenance loan is designed to help cover some of your basic living costs, such as accommodation, travel, food and course costs. Twenty five percent of the loan is assessed on your, or your family's income. Taking out a student loan is a big financial commitment, however the repayment structure depends on your future earnings, and apart from your interest-free overdraft, is the cheapest form of borrowing.

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Grants and Bursaries
A student grant is money that is given to you if you qualify under certain sets of circumstances, and is non-repayable. A Student Bursary is money paid to you by your college, usually due to academic or sporting achievement, or on the basis of your household income.  There are a wide range of grants and bursaries available to students, dependant on their course and where they live. Information can be found from the following links:

Welsh students studying in Wales

English students studying in Wales

UWIC Student services

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Postgraduate Students
Funding for postgraduate students is hard to find. This is mainly due to the fact that there is no central system of funding, like that available for undergraduate students. Postgraduate students may also find that living expenses are higher and that they are responsible for all of the university fees. Therefore, students should fully understand the financial implications before beginning a postgraduate course. There may be a limited number of funded places available, dependant on the subject you plan to study. Also, you may be able to find a sponsor to help pay your fees. However, both of these options are rare- and you should research the available opportunities prior to enrolling on a course. Students’ services provide some useful links for postgraduates looking for funding.

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PGCE Students
If you qualify as a 'home' student, and are starting a postgraduate ITT course in Wales after September 2008 then you will receive a non-taxable bursary to aid your studies. The amount you receive is dependent on the subject you plan to teach-as priority subjects such as Music and RE will receive greater amounts. Welsh domiciled students studying in Wales will also be eligible for a £1,890 non repayable grant towards tuition fees. There is also a Welsh medium incentive supplement available for students wishing to pursue the secondary postgraduate course through the medium of welsh. More information for PGCE students can be found on the student finance Wales’s website Here.

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International Students
International students face significant financial demands when studying in the UK. UWIC understands these difficulties, but encourages all international students to ensure that they have sufficient funds to cover both course fees and living expenses before coming to the UK. It is important to note that you will not be able to receive any money from UWIC or any other UK organisations once you have arrived in the UK. It is also likely that authorities will require you to prove that you have sufficient funds before they grant you your visa. Similar to other UK institutions, UWIC requires you to pay your accommodation and course fees in full whilst you are studying in the UK. It is possible for you to pay your fees in two installments if you cannot pay in whole at the beginning of your course. However, you will not be allowed to graduate if you have outstanding monies owed to UWIC. Further information on finance for international students can be found on the UWIC international students’ website here.

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The Financial Contingency Fund
If you're struggling for money then you may be able to get some help via the Financial Contingency Fund (FCF). The FCF is a sum of money given to UWIC each year by the Welsh assembly. This money is then divided between students facing excessive hardship. If you are studying full or part-time on a mainstream undergraduate or postgraduate course or course of further education, you are eligible to apply to the FCF as long as you meet the residence requirements (as it is only available to 'home' students). If you are awarded money from the fund, then it does not have to be repayed! 
 
Download Financial Contingency Fund Appplication Form

More information about the Financial Contingency Fund can be found on the Student Services website. Students Services Website.

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Council Tax
Most students are entitled to some form of discount or exemption from council tax. However, this depends on your individual circumstances. Your local authority will ask to see a council tax exemption certificate. You can obtain this from your schools’ Administration Office Registry on your campus of study. You will need to request this, and it will then be available for you to collect.
 
The rules of council tax are complex, and any student unsure about how much council tax they should be paying should first consult the information available on Cardiff Council website.

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