Taking part in Outgoing Exchange doesn't extend your time at university and you will still graduate with your year group. This means you will not have to fund an extra year at university.
Student Finance still provide you with a maintenance loan and grant (if you are eligible) and you may get an increased maintenance loan allowance as it is calculated at an overseas rate (only applicable to students studying abroad not working). Student Finance also offer a Travel Grant to those students studying overseas, this is given based on household income and assessed the same as your maintenance loan and grant amounts, it is to help you recover some of the costs of flights, visas and insurance. However you are always expected to fund the first £303 of your expenses. For more information please visit the Student Finance Website.
One of the big advantages of going on exchange you wont need to pay any tuition fees to the partner university, you only pay tuition fees to Liverpool Hope University as normal and Student Finance still provide the tuition fee loan.
Any student that goes on exchange to Europe for more than a semester will be charged a lower tuition fee (Please speak to the Finance Office to get more information on this).
Any student taking part in a Exchange in at one of our partner universities in Europe will be eligible for an additional grant equating to between £200-£250 per month to help cover your living costs whilst overseas. The amount you receive will depend on how long you are away for and which country you go to and students from low income families are also eligible for up to £80 a month extra.
As this is a grant the money will never need to be repaid and funding up until the end of the 2017/18 academic year has been guaranteed.
When taking part on Exchange you are responsible for the cost and organisation of accommodation, travel and all living expenses however you can use all the above funding to cover these costs. Depending on where you study will effect how much money you will actually need so it is advised you take into consideration these things when deciding which partner university you want to study at.