Part-time courses - an affordable alternative to full-time study
Newman offers a range of part-time degree courses which offer a cost effective alternative to full-time study. Designed to be studied over 2.5 days per week they enable students to combine work with study and have significantly lower fees than full-time courses. Part-time students study alongside full-time students and have access to the same facilities, services and staff expertise.
Newman also offers a range of part-time work-based foundation degrees, studied alongside work typically on one day per week.
Part-time fees for 2017/18
A 4.5 year part-time BA/BSc undergraduate degree costs £4,950 per year.
This equates to a £4,725 saving over the duration of the course compared with the full-time equivalent.
A part-time foundation degree costs £4,500 per year.
Financial support for part-time students
It is important to note that no UK first degree student will have to pay fees up front. Part-time students can still access tuition fee loans to cover the full cost of tuition fees, but are not eligible for Newman’s scholarship programmes. Part-time students in receipt of benefits can continue to receive some benefits whilst studying part-time.
The Government has confirmed that maintenance loans for part-time undergraduate students will be introduced from 2018. Maintenance loans are loans which help pay for students' living costs, eg, food, books, accommodation and travel. Students can apply for student finance via the GOV.UK website.
Additional information can be found at UCAS.com
Repayment of financial support for part-time students
Loans do not have to be repaid until you have left university and are earning over £21,000. The loans will then be repaid at 9% of income over £21,000. Any outstanding loans will be written off after 30 years.
A graduate who earns a starting salary of £25,000 will take home £1,613 per month or £372 per week after tax and national insurance. From this they will have to repay only £6.92 per week.
A graduate earning £30,000 will take home £1,896 per month or £437 per week after tax and national insurance will repay only £15.58 per week.
Interest rates for student loans
The rate of interest you pay on the loan (which is payable from when you take out the loan, not when you finish the course) depends on your household income:
- If you earn less than £21,000 – interest is at the rate of inflation
- If you earn between £21,000 - £41,000 – interest is at the rate of inflation plus up to 3%
- If you earn over £41,000 – interest at the rate of inflation plus 3%
Whilst studying interest will be at the rate of inflation (RPI) plus 3% until the April after you have graduated.
Applying for financial support as a part-time student
If you want further information, Martin Lewis' moneysavingexpert.com website has a detailed explanation of student finance:
Martin Lewis has also produced a useful video on student finance for 2012 (many of the points made still apply in 2017/18), so it is well worth watching). You can view it on YouTube by clicking here.