Home > News and media > News > News archive > 2013 > 02 > LSE Announces New Fees and Bursaries for 2014-15

 

LSE Announces New Fees and Bursaries for 2014-15

From September 2014 there will be a new financial package for UK and EU undergraduates at LSE.

LSELSE Council has approved a graduate repayment of £9,000 per year with increased cash bursaries for low-income students and an increase in funding for outreach activities. This decision follows the LSE Academic Board’s vote to recommend a new level of fees and bursaries in January.

The £9,000 per year graduate repayment will enable the School to provide even more generous support for students from lower-income backgrounds, with larger cash awards to offset the costs of studying rather than fee waivers.

Overall, 50 per cent of all additional fee income will be spent on bursaries, scholarships and widening participation activity– representing £3.47 million per year, within the School’s £18m total expenditure on student support. This compares to £2.93million per year under the current system and is a significantly larger proportion of additional fee income than is spent by universities such as Oxford, Cambridge, UCL and King’s College London.

It was noted during discussions at Council and Academic Board that the introduction of a higher level of UK/EU fee in 2012 has not detracted from the School’s ability to attract high quality applicants. Applications to the School from Home UK undergraduates for 2013 entry are encouraging, with a 15% increase compared to 2012 (as of 20 January). This is compared to a national increase of only 3% in Home UK undergraduate applications in the sector overall for 2013 compared to 2012. Likewise, the increase in graduate repayment has had little discernible effect on the characteristics of entrants.

Professor Craig Calhoun, Director of LSE, said:

"No student should be put off applying to LSE due to financial concerns. Likewise, no student should be unable to thrive while studying here because of money troubles. In both cases, scholarships and bursaries are key, not the headline fee level.

Scholarships and bursaries benefit those who are in need when they need it most, which is while they are actually studying. This change will allow the LSE to deliver an unprecedented level of support for students from low income backgrounds who need increased cash support now more than they need lower graduate repayments later. It will see us channel more money into activities that we believe make a real difference. And it will see us plough half of all additional fee income straight back into student support and access, a higher proportion than at other leading institutions."

END

Notes

Proposed package of student support available for LSE students in 2014/15:

LSE awards

  • Students from households with an annual income of less than £6,000 p/a will receive an annual LSE award of £4,000, as well as being eligible for a full grant from the government and a student loan. 
  • Students from households with an income of less than £18,000 p/a will receive an annual LSE award of £4,000,as well as being eligible for a full grant from the government and a student loan.
  • Students from households with an income of £18,001-£25,000 p/a will receive an annual LSE award of £3,500 as well as being eligible for a full grant from the government and a student loan.
  • Students from households with an income from £25,001-£30,000 p/a will receive an annual LSE award of £2,750 as well as being eligible for a partial government grant and a loan.
  • Students from households with an income from £30,001-£35,000 p/a will receive an annual LSE award of £1,750 as well as being eligible for a partial government grant and a loan.
  • Students from households with an income from £35,001-£40,000 p/a will receive an annual LSE award of £1000 as well as being eligible for a partial government grant and a loan.
  • Students from households with an income from £40,001-£42,600 p/a will receive an annual LSE award of £750 as well as being eligible for a partial government grant and a loan.

National Scholarship Programme 

In addition to the LSE award English domiciled students from households with an income of less than £6,000 per year will receive financial aid worth £6,000 over three years from the Government's matched-funded National Scholarship Programme. The award would be worth £3,000 in year one and £1,500 in years two and three.


Government support
 

In addition to any LSE bursaries and awards, all UK students, regardless of income, are entitled to a loan to cover the full cost of their tuition fees, meaning there is no upfront cost. All students are also able to take out a maintenance loan from the government. This is in addition to all Government grants, bursaries and awards. The loan for fees and maintenance is paid back gradually once the student has graduated and is earning over £21,000 p/a.


13 February 2013

Share:Facebook|Twitter|LinkedIn|