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Tara Feeney - Deputy President / Welfare Officer

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DOWNLOAD Financial Aid Terms and Conditions.pdf - 88kb

Finance

Leaving home for the first time is a huge step for anyone to take. There is so much extra responsibility and freedom. Sometimes it`s great but other times it can be very daunting, especially when it comes to money. For the first few months at college (at least) the SU advises you to prepare a budget. It`ll make it clear exactly how much money you have, how much has to be set aside for living expenses and how much you can afford to spend on entertainment. Drawing up a budget is very simple but is extremely effective.

The Money Advise & Budgeting Service (MABS) is a fantastic organisation who provide advice and support for people with financial difficulties. Check out their website for information (www.mabs.ie). The local MABS office on O`Connell St. (061-310620) will meet with any student to discuss their financial problems and help them create a budget. Leaflets on MABS, Budgeting and Leaving Home for the First Time are available from the SU Welfare Office. If you would like more info on MABS, finance or budgeting, call in to see the Welfare Officer.

Financial Assistance Available for Students

Higher Education Grants

Special Rates of Maintenance (Top Up Grant)

Finanical Aid (Hardship Fund)

Student Assistance/Access Fund

Higher Education Grants

This grant is means tested on your parents` income (see www.studentfinance.ie). Mature students are usually assessed as an independent (contact the UL Mature Students Officer for more info). The grant is paid into your bank account in 3 instalments, usually October, January and around Easter. Contact your local County or City Council for details.

For PAYE families you will need to provide them with:

P60 for both parents (if both working)
P21 for both parents
P45 for any parent made redundant or ceasing employment
Copy of Birth Cert

Where in receipt of Social Welfare payments, a written statement from the Department of Social and Family Affairs and from the HSE (If applicable) which includes names of recipient, name of scheme, amount received, date the payment started, and if applicable, date the payment ceased.

For Non-PAYE families your accountant is a good point of reference due to the differing circumstances.

Special Rates of Maintenance Grant (Top Up Grant)

Some students are eligible to apply for the top up grant, which is an extra grant on top of the ordinary maintenance grant. Based on eligibility for the normal grant, you either qualify or you don`t. However, if you think you might be eligible but haven`t received it, we recommend that you contact your local authority to make sure you get it.

Financial Aid (Hardship Fund)

This fund is administered through the SU Welfare Office and is financed from students` capitation and by the University of Limerick Foundation. There are two types of payments out of the fund:

1. Loan: An interest free loan that is given for specific circumstances for a specific period of time. Loans must be repaid by an agreed date as decided when applying for the fund. To apply for a loan, documentation of your financial situation must be provided.

2. Childcare Bursary: Known as the "Crèche Bursary", this fund aims to assist students who are in financial difficulties and who need assistance in order to meet childcare costs, whether it be crèche or child minding. To apply to the fund, pick up an application form from the SU Welfare Office. Some documentation will be required to apply to the fund: your child`s birth cert, proof of childcare costs and either proof of One Parent Family Payment, Medical Card, Back to Education Allowance, etc. If you are a postgrad, please apply through the PSA President. This fund is targetted towards lone parents.

To apply for any of these funds, call to Derek Daly, Welfare Officer for details.

Students Assistance/Access Fund

This fund is provided by the Dept of Enterprise, Trade and Innovation and is assisted by the European Social Fund (ESF). All registered students in the University are eligible to apply, however the fund is for disadvantaged students in need. The fund is means tested and applications must be accompanied by supporting financial documentation.

Applications are available from the Access Office and Students' Union.