Aston Progression Scholarships Sample Clauses

Aston Progression Scholarships. For 2015/16 the University will offer an Aston Progression Scholarship of £500 per year to all Home/EU students paying deferred variable tuition fees with a household income of up to £35,000 who do not qualify for the Aston Aspire Scholarship. This support will be offered in each year of study where a tuition fee of £9,000 is charged, subject to satisfactory academic performance and an annual assessment of household income. Based on historical access trends it is anticipated that over 60% of students paying deferred variable tuition fees at Aston will be entitled to Aston Scholarships. Aston Progression Scholarships will provide:  £500 scholarship in each year of study where a tuition fee for £9,000 is charged. o This will be a choice of either a £500 fee discount, £500 residences fee discount in Aston University accommodation or £500 payment into a student’s bank account. Aston Progression Scholarships have been structured in this way for the following reasons:  The current Government plans for interest charges on fee and maintenance loans are for RPI plus 3% while students are studying, with possible variable levels of interest after graduation. A £500 Aston fee discount would effectively mean that Home/EU students’ fee loans would not increase in interest each year based on a typical interest rate of just over 5% if fees are set at £9,000 (£1,000 for the placement year). In a typical financial period this would mean that on graduation students would not “owe” more than they originally borrowed in fee loans after three or four years of study at Aston. Aston students who opt for discounts on residences fees will be able to access high quality en suite rooms on campus at a cost of around £4,000 per year, below the UK average for comparable accommodation. Students will be annually assessed for eligibility through the Higher Education Bursary and Scholarship Scheme (HEBSS) or equivalent which is administered by the Student Loans Company.