| Debt-free Study at Open University |
| From this September, top-up fees mean that the average student will be left with a debt of about £20,000 after their degree. |
| Don't fret over debt
And, although you can apply for a student loan, you'll have to pay it back once you're earning more than £15,000. This takes an average of 13 years - which means you'll be well into your 30s by the time you're solvent! With the OU, however, you can get an excellent degree without being burdened with debt. What's more, if you get a job and study part time, you'll be able to earn money to cover your fees and living expenses. The work experience will also be invaluable when you graduate. Just think of all those essential life skills you'll have - working in a team, meeting all sorts of people, navigating office politics... So how do OU fees compare? They're much lower than other universities! The average cost of an OU degree is around £4,000 (except law and business), and you can spread the cost over several years, depending on how long you take to do your degree. How can I pay? With the OU you don't apply for a student loan but choose from one of three payment options: pay up front; pay in monthly instalments via an OU Student Budget Account; or get a grant. A grant sounds good - how do I qualify for that? Students earning less than £15,345 a year can apply for a government grant for module fees of up to £1125 a year in England and Northern Ireland and £885 in Wales. You can also apply for a study costs grant of £250 a year in England and Northern Ireland and £1,000 a year in Wales. What about Scotland? Scottish students get their fees paid in full if they earn less than £15,345. Loans are also available to students on less than £13,000. And if you earn less than £15,000 or are on certain benefits, you can claim up to £200 a year towards the cost of many OU courses by paying a minimum of £10 per course into your Individual Learning Account. Is extra support available for more costly courses? Yes. If your fees are higher than £750 - for example, Business or Law - we will top up the government fee grant for one high cost course a year in England and Northern Ireland. You can contact Open University at +44 (0)1908 653077 or see our website for further information. www.open.ac.uk  |
