by romantic on Thu Mar 03, 2005 10:55 am
[s]Cain wrote on 16:36, 2nd Mar 2005:
all that and £2,000 for me to pay, as a scottish student.
joy
[hr]
I hold an element of surprise
This is from the SAAS website - looks like graduate endownment will keep going up and up for new students...
The Graduate Endowment is a fixed amount that some graduates will have to pay at the end of their degree if they receive a degree or if they meet the requirements for an award. It applies to Scottish domiciled students and EU students who started their first full-time degree course at a Scottish institution on or after 1 August 2001. The Education (Graduate Endowment and Student Support) (Scotland) Act 2001 provides for the Graduate Endowment.
Students have to pay the Graduate Endowment in recognition of the higher education benefits they have received. The funds will go towards student support for future generations.
Although graduates do not pay the endowment until the April after they have completed their course, the amount to be paid is set at the beginning of their degree course. The fixed amounts are as follows.
* £2,000 for students who began their degree course in session 2001-2002.
* £2,030 for students who began their degree course in session 2002-2003.
* £2,092 for students who began their degree course in session 2003-2004.
* £2,154 for students who began their degree course in session 2004-2005.
The amount will increase by the rate of inflation for students starting in future years so the rate payable by students entering in 2005-2006 will be different.
You will not have to pay the endowment if you:
* are assessed as being independent of your parents at the start of your course;
* are eligible for the Lone Parents’ Grant at some point during your course;
* are eligible for the Disabled Students’ Allowance at some point during your course;
* are on an HNC or HND course;
* transfer to your degree course directly from an HNC or HND started before 2001-2002;
* take less than two years to complete your degree course immediately after completing an HNC or HND;
* take less than three years to complete your degree course in all other circumstances;
* are taking certain degree courses that attract an income-assessed Scottish Executive Health Department bursary, such as nursing, midwifery and courses for the Allied Health Professions;
* fail to meet the requirements to be accredited with a degree;
* have studied for a degree in a publicly-funded higher education institution before;
* are studying at a UK institution outside Scotland; or
* study part time.
Paying the Graduate Endowment
If you have to pay the endowment, we will write to you during the final year of your degree course to let you know how you can pay the Graduate Endowment. We will write to you again shortly before you graduate to ask for details of how you plan to pay the endowment. You may want to pay the endowment at the end of your course. However, we assume that many graduates will choose to take an extra student loan to meet their liability. You can choose to:
* pay the Graduate Endowment in a lump sum and send us a cheque for the full amount;
* pay part of it by cheque and apply for a student loan for the rest; or
* apply for a student loan for the full amount.
If you choose to pay by taking out a loan, we will ask you to fill in a loan application form and we will pass your details to the Student Loans Company (SLC). However, the SLC will not take the loan from your loan account or this will not show up on your loan statement until after 1 April in the year after you complete your course.
Students who choose to take out a student loan to meet part or all of their liability will do so on the same terms as any existing income contingent loans. You can get more information from the Student Loans Company (SLC) on how repayments will be collected. Because the amount of the monthly payment depends on the level of income rather than the size of the loan account, the monthly payment will not increase as a result of the Graduate Endowment. If you use a loan to repay your Graduate Endowment, you will not have to make an extra monthly payment for this as well as for your repayment of your loan for living costs.
If you have any questions on the Graduate Endowment you can visit our Graduate Endowment FAQ section. This should answer some of the most commonly asked questions. You can also contact us.