Finance

What statutory support can I get?

Tuition Fee Loan

Tuition fees for the SCITT are £9,000 per annum. UK and EU trainees can take out a tuition fee loan to cover the full amount of the tuition fees. It is not means tested and you only repay the loan when you start to earn over £21,000. It is not compulsory to take out a loan: you can pay the full fees yourself or pay part of the fees and take a loan out for the rest. Some qualified teachers will be able to apply for a reimbursement on their student loan payments made in the first 10 years of their careers, provided they are teaching in a state-funded school in a designated local authority. For more information on the Teachers’ student loan reimbursement scheme visit here.

For advice on how to apply for a tuition fee loan, visit www.gov.uk/student-finance

Maintenance Loans

Financial support may also be available to help you fund your living costs. This is means tested and depends on each individual’s circumstances. You may have to disclose information about your household income. You must be a full time UK student (EU students cannot apply). For advice on eligibility and applying, visit www.gov.uk/student-finance

Training Bursaries

Tax free bursaries of up to £26,000 are available for trainees on eligible postgraduate teacher training courses in England. Bursary amounts will vary depending on teacher training subject and degree class or highest relevant academic qualification. Please visit here for further information.

Scholarships

Graduates with a 2:1 and above, who are passionate about their subject and have the potential to be inspirational teachers can apply for a tax free scholarship of up to £28,000 with the appropriate professional body. As well as the financial award, scholars will receive a package of additional benefits provided by the professional bodies. Scholarships are available in Physics, Computing, Chemistry, Geography, Languages and Maths. Trainees who receive a scholarship will not also be eligible for the standard bursary.  For more information visit this link.

Mathematics early-career payments

Secondary mathematics trainees will receive 2 additional early-career payments of £5,000 after tax (£7,500 if teaching in specified areas of England) in their third and fifth year of teaching, if they have taught in a state-funded school in England since completing their teacher training course. For more information please visit this link. 

Further information

There are several excellent websites which contain cost of living calculators to help you work out your budget. For further information on all aspects of student finance try:
www.gov.uk/student-finance
www.thestudentroom.co.uk/studentfinance