The cost of going to university

Since the introduction of tuition fees in 1998, the cost of going to university has steadily increased. The Moment talks to University Centre Peterborough to find out why more people are now realising that studying locally in Peterborough is financially beneficial and for some has become an achievable dream

The lowdown on tuition fees
If you choose to study for a fulltime undergraduate degree locally in Peterborough you will save £1,500 per year compared to tuition fees from other universities. For 2017/18 applicants, University Centre Peterborough will charge £7,750 per year for tuition fees, whereas other universities will be charging £9,250 per year and this is even higher in London. This means that if you study locally in Peterborough you will save a minimum of £4,500 over the duration of a three-year degree. Don’t worry if you haven’t got £7,750 already saved up as all UK and EU students are entitled to Student Finance which covers the cost of tuition fees regardless of where you want to study.

No need to wave goodbye
The biggest cost and often a stumbling block for going to university if the cost of living. Accommodation costs across the country will vary but on average are £5,000 per year and don’t always have the same comforts of living at home (which are normally free if your parents do not charge you rent). When you start to factor in the costs of food, cleaning, broadband, TV license and other household bills the total cost increases dramatically. Before choosing where to study, it is advisable to sit down with parents and compare the costs of studying locally in Peterborough to moving away as maintenance loans are means tested and often required parents to make a contribution. The best website to help with this is www.gov.uk/student-financecalculator

EU students are still eligible
Since the EU referendum there has been uncertainty about whether EU students can still apply for Student Finance to cover their tuition fees and provide maintenance loans. The good news is that the UK government have now confirmed that if you apply for courses beginning in September 2017 you are still eligible. However, if EU students wait until September 2018 then the situation currently remains unclear.

Work while you study
As University Centre Peterborough timetables lectures for the majority of fulltime courses over two full days a week, this allows students to get part-time work to help support the cost of studying. Alternatively, students with family commitments can save on childcare costs by only needing nursery places for two days a week. There are other students also work full time with their employers funding their fees and releasing them to study for one or two days a week.

Other financial assistance
There are a variety of other grants and allowances available for childcare, if you have adult dependents or have long term health, mental health or specific learning difficulties which impacts on your study and daily life. University Centre Peterborough has a Student Support department who can help you get access to this financial assistance at the time of your application.

Improve your career prospects locally
After successfully gaining a degree, the next step will be landing that dream job. Many graduates who leave Peterborough to study and return back looking for work do not always find it easy to get the right employment. University Centre Peterborough actively build links with local businesses and employers to help their students get a head start with work experience, placements, interviews and advice. The chances of getting that dream job locally certainly increases if you study locally.

£500 cash rewards
As a well-known advert goes, ‘every little helps’. Actually £500 is more than a little and will go a long way. University Centre Peterborough will offer all full-time undergraduate students in 2017/18 a £500 cash reward after they complete their first academic year. This payment will help students to fund study resources, equipment and field trips which will aid their studies. Students who come from a low income household under £25,000 can get access to an additional £500 low income bonus which is paid after the first semester and helps make settling in and adapting a bit easier.

Closer to all your dreams
Peterborough benefits from excellent bus and rail transport links and the university campus is a short walk from the city centre. There is easy access from main roads and the main campus at University Centre Peterborough offers free car parking for students who live over 3 miles away. The University Centre also ensures that travelling is kept to a minimum (subsequently improving the carbon footprint) by timetabling lectures for the majority of full time courses over two full days a week so you don’t need to travel every day. This has allowed students to travel up to 40 miles away from Peterborough to commute for two days a week and still live at home.

For more information about student finance and fees there will be information talks and guidance at the Open Days at University Centre Peterborough. The next one is Wednesday, 15 March, 5.30pm to 8pm. Please visit www.ucp.ac.uk for more details

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