Student finance for medicine in 2012 in England was a significant undertaking, involving a mix of tuition fee loans and maintenance loans. Understanding the specifics of that year requires looking at the policies and thresholds in place at the time.
Tuition fees were capped at £9,000 per year for all undergraduate courses, including medicine. Students could apply to the Student Loans Company (SLC) for a tuition fee loan to cover the full cost. This loan was paid directly to the university and did not need to be paid back until the student was earning above a certain threshold after graduation.
Maintenance loans were also available to help with living costs. The amount a student could borrow depended on their household income and where they were studying. Students living at home received a lower maintenance loan compared to those living away from home. London weighting also increased the loan amount for students studying in the capital.
For medical students, the funding was somewhat unique compared to other undergraduate courses. Due to the longer duration of medical degrees (typically 5-6 years), students could access funding for a longer period. However, after the initial period (usually four years), different rules applied. The NHS Bursary scheme often came into play for the later years of the medical degree, typically from the fifth year onwards. This bursary provided additional financial support but was means-tested.
The NHS Bursary offered both a non-means-tested grant and a means-tested bursary. The non-means-tested grant was intended to cover certain expenses, while the means-tested bursary was based on household income. Students receiving the NHS Bursary generally received a reduced maintenance loan from the SLC. The specifics of the NHS Bursary, including the exact amounts available and the income thresholds, varied slightly year by year.
Repayment of the student loans (both tuition fee and maintenance loans) began the April after graduation, provided the graduate was earning above the repayment threshold. The repayment threshold for those who started their studies in 2012 was lower than it is today. Repayments were calculated as a percentage of income above the threshold, and were automatically deducted from the graduate’s salary.
It’s crucial to remember that specific details regarding income thresholds, loan amounts, and bursary eligibility are time-sensitive and were subject to change. Students starting medicine in 2012 should refer to official SLC and NHS Bursary documentation from that year for the most accurate and detailed information.
In summary, student finance for medicine in 2012 involved a combination of tuition fee loans, maintenance loans, and potentially the NHS Bursary in later years, with repayments linked to post-graduation income.
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