Latest news from Loughborough University
| 7 March 2005 | PR 05/16 |
Loughborough announces generous bursary scheme
Loughborough University has announced an extensive bursary scheme for full-time UK undergraduates beginning their studies in October 2006, which will help to encourage those from lower income backgrounds into higher education1.
It is estimated that around 3,500 students will benefit from the bursaries each year when the scheme is fully rolled out, representing an investment of around £3.25 million a year by the University. The one hundred per cent cash bursaries are intended to help with students’ living expenses.
The bursary scheme, revealed in Loughborough’s undergraduate prospectus published today, forms a significant part of the University’s Access Agreement. It is expected that the Agreement will be approved by the Office of Fair Access (OFFA) later this month.
Loughborough has also announced that it plans to charge £3,000 a year for UK/EU students, for all of its full-time undergraduate degree courses for 2006-07.
“The University has developed a bursary scheme that ensures as many students as possible get access to financial assistance. We also want the scheme to be clear and straightforward so that students can readily understand what they are entitled to. In effect it’s fair, simple and clear,” explains Professor Sir David Wallace, Vice Chancellor of Loughborough University.
He adds: “We believe that this will be an attractive package for students, particularly when allied with our teaching quality and graduate recruitment record, and with opportunities for additional income in sponsored programmes and placements in business and industry.”
As part of Loughborough’s Access Agreement a range of means-tested maintenance bursaries, of up to £1,300 a year, will be available to those from lower income backgrounds. When coupled with the Government grant, of up to £2,700 a year, this will provide a maintenance package of up to £4,000 per annum, which students will not have to repay.
Hardship among mature students is a particular issue and the University has responded with enhanced bursaries. Mature students from lower income backgrounds will be entitled to bursaries of up to £2,600 per year.
An additional source of financial support for full-time UK students will be provided by non means-tested, merit-based scholarships. These will be offered for specific degree programmes by some departments in the Faculties of Science and Engineering and will be payable for one year only on entry to the University. The value of the scholarship is likely to be £1,000.
The University currently has a range of sources of financial support
available to its full-time undergraduate students and will continue to
provide these. The additional bursaries and scholarships being offered
from 2006 onwards will help the University to increase its proportion
of students from under-represented groups.
Under the new scheme tuition fees do not have to be paid in advance. Repayments
will be made from the April following graduation, over a period of up
to 25 years.
1. The bursary scheme and other proposals contained in the University’s
Access Agreement are subject to approval by the Office of Fair Access
(OFFA).
Ends
For further information contact:
- Hannah Baldwin, Head of PR, Public Relations Office
T: 01509 222239, E: H.E.Baldwin@lboro.ac.uk
Notes to editors
1. Means-tested maintenance bursaries
| Residual family income* | Aged under 21 on entry | Aged over 21 on entry | |
| Up to £15,200 | £1,300 | £2,600 | |
| £15,201 to £19,000 | £1,100 | £2,200 | |
| £19,001 to £22,500 | £800 | £1,600 | |
| £22,501 to £26,000 | £600 | £1,200 | |
| £26,001 to £29,500 | £400 | £800 | |
| £29,501 to £33,000 | £200 | £400 |
(* These figures are indicative and may be subject to minor changes)
The entire bursary will be a cash payment – there is no ‘in-kind’
element
2. Merit-based scholarships
The merit-based scholarships will be offered to students who
achieve a minimum of 320 or 340 tariff points from three A levels or equivalent
qualification depending upon their chosen degree course and who make Loughborough
University their first choice when replying to their offers through UCAS.
3. Loughborough has an established reputation for excellence in teaching
and research, strong links with industry, and unrivalled sporting achievement.
Assessments of teaching quality by the Quality Assurance Agency place
Loughborough in the top flight of UK universities, and industry highlights
Loughborough in its top five for graduate recruitment. Around 45% of the
University’s income is for research. The University has been awarded
four Queen’s Anniversary Prizes: for its collaboration with aerospace
and automotive companies such as BAE Systems, Ford and Rolls Royce; for
its work in developing countries; for pioneering research in optical engineering;
and for its world-leading role in sports research, education and development.