Money
16-19 Bursary Fund
The 16-19 Bursary Fund is a scheme intended to financially support the most vulnerable 16-19 year olds in full time education/training. The money will be distributed by colleges/training providers.
For more information, visit: www.gov.uk/1619-bursary-fund
Child Benefit
The Child Benefit money your parent/carers receive for you stops on 31 August on or after your 16th birthday if you leave education or training. It continues if you stay in approved education or training.
For further information, please visit www.gov.uk/child-benefit-16-19
Post 16 Finance - Employment/employed apprenticeships
If you secure an employed apprenticeship, or find full time employment, Child Benefit and Tax Credits/ Universal Credit payments will stop.
All employed apprentices must receive a wage of at least £5.28 per hour from 1st April 2023. In some cases this may be higher; this is dependant upon your employer.
From April 2023 the National Minimum Wage (NMW) was increased to the following:
16 - 17 year olds & Apprentices - £5.28 per hour
18 - 20 year olds - £7.49 per hour
21 – 22 year olds - £10.18 per hour
23+ year olds - £10.42 per hour
These rates are usually revised on an annual basis April every year.
Educational Trusts
There are a number of local educational trusts that you might meet the criteria for additional money which you do need to pay back. Currently the local trusts include:
- Hull Education Foundation
- Leon Salingar Award
- Hull Youth Trust
- Alderman Sydney Smith Prize Trust
- Cecil William Rutherford Trust
To learner more about these trusts and see if you meet the criteria visit: https://www.hull.gov.uk/children-and-families/advice-and-support-young-people/educational-trust-funds
Funding for higher education
The following will help you understand the costs of going to university and will provide practical advice on budgeting whilst at university:
Most universities offer various forms of financial support too, particularly (though not exclusively) to students from lower income families or applicants with special needs.
You need to contact your chosen university to find out more information.
Charitable and Educational grants are available for some students. For those with a disability there is a helpful fact sheet https://www.disabilityrightsuk.org/fundinghighereducation
For some courses in Health there are extra NHS bursaries https://www.nhsbsa.nhs.uk/student-services
The following are charities and useful websites for information on financial assistance
Many charities offer grants dependant on postcode, age, income etc https://www.thescholarshiphub.org.uk/blog/educational-grants-students-trusts-and-charities
There are some local charities that support local people and the University of Hull, these are:
- The Ann Watson Trust https://www.annwatsonstrust.com/
- Holbeck Scholarship https://www.york.ac.uk/study/undergraduate/fees-funding/uk-eu/scholarships/holbeck/
Useful Websites
Money Supermarket - Budgeting Tips for Students
Money Saving Expert - Funding University
UCAS Advice on Managing Money - Student Budgeting And Money Management Tips | UCAS
Living Costs for Full-time Students - Maintenance Loans, Maintenance & Support Grants
Support for disabled students - Scholarships, grants, and bursaries: Disabled students | Undergraduate, Conservatoires | UCAS
Disabled Students' Allowance (DSA) - Disabled Students' Allowance (DSA) | Undergraduate, Postgraduate, Conservatoires | UCAS
Support for Disabled Students (FAQ's) - Frequently Asked Questions
Students with dependent children - Student Finance for Undergraduates
Students with dependent adults - Adult Dependants' Grants for full-time students - learn more here (ucas.com)
Care Leavers Financial Support - https://www.ucas.com/undergraduate/applying-university/individual-needs/ucas-undergraduate-support-care-leavers
Estranged Young People Financial Support - Financial Support for Those Not Supported By Family (Estranged)
Funding for Post Graduate students - Postgraduate Fees & Funding
This page was created by career professionals Sonia, Ellie and Rose within the >log on | move on> team. If you have any queries about this section then please get in touch! and either one of us will get back to you!
