Managing Money

It is not always easy to manage your money, and know the benefits of budgeting! Here’s some information that might make things easier for you!

FINANCIAL ASSISTANCE AT DERBY COLLEGE 2016/17

Types of assistance available:
• 16-18 Learner Bursary Fund
o Discretionary Bursary
o Guarantee Bursary
• 19+ Learner Support Fund
• 24+ Advanced Learning Loan Bursary Fund

16-18 Learner Bursary Fund
What is it?
Financial assistance towards course related costs such as travel, equipment, trips and meals.
Who is eligible?
Learners aged 16-18 who have enrolled on a government funded course:
Discretionary Bursary – eligible if net annual household income below £20,000 and/or on means tested benefit or can demonstrate financial hardship (income of parents/carers learner lives with).
Guarantee Bursary – £1,200 per annum divided into monthly instalments for learners who are:
• In care or care leavers
• In receipt of Income Support themselves
• Disabled and in receipt of Employment Support Allowance (ESA) and Disability Living Allowance (DLA) or Personal Independence Payment (PIP)

19+ Learner Support Fund
What is it?
Financial assistance towards course related costs such as travel, equipment, trips and childcare.
Who is eligible?
Learners aged 19 and over who have enrolled on a government funded course and with an annual net income below £20,000 and/or on means tested benefit or can demonstrate financial hardship (learner’s own income). See below for learners eligible for a 24+ Advanced Learning Loan – they are not eligible for assistance from the 19+ Learner Support Fund.

24+ Advanced Learning Loan Bursary Fund
What is it?
Financial assistance towards travel and childcare costs.
Who is eligible?
Learners who are eligible for the 24+ Advanced Learning Loan with the same income criteria as for the 19+ Learner Support Fund.
Emergency Funding
It may be possible to assist learners in a crisis situation needing emergency funding without the need for income evidence, providing their application is supported by a statement from a tutor or mentor.

All support is subject to good progress and an attendance of 90% or above.

How to apply
Application forms are available from Learner Services at all sites, or to download from the Derby College website at derby-college.ac.uk (under ‘Learner’).
Provide recent proof of income from benefits or employment with the application.
Provide proof of residency if not from the UK. Applicants must be from the UK, EU/EEA, a refugee or an asylum seeker of more than 6 months to be eligible (or their spouse or child).
Must apply each term for funding to continue – application forms available at the start of each term.

For more information
Hand-outs and z-cards
Learner Handbook, Moodle and Derby College website
Drop-in sessions for Learner Support Fund at most sites – see local Learner Services for more details.

Contact details - Learner Support Fund Team
Telephone: 01332 387400 extensions 4861, 4827, 4857, 4057 and 2029.
Email: learnersupportfund@derby-college.ac.uk
The Learner Support Fund
Derby College
The Roundhouse
Roundhouse Road
Derby
DE24 8JE

 

Here's general advice and information on saving money

http://www.moneysavingexpert.com/students/

Here's some great tip for young people on saving money!

http://www.moneysavingexpert.com/family/young-adults-moneysaving?utm_source=MSE_Newsletter&utm_medium=Email&utm_term=06-Aug-13&utm_campaign=family&utm_content=154

Info on students loans

http://www.moneysavingexpert.com/students/student-loans-guide

 

 

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