Overview

In years 5 and 6, MBBS Medicine students have significantly reduced statutory funding from the NHS and the Student Loan Company to cover their living costs.

To minimise this impact, if you are eligible for an Imperial Bursary in years 5 and 6, you have a choice of how to receive your payments:

  • in full for each year of study i.e. the standard payment option, or
  • higher payments in years 5 and 6, by setting aside 33% of the bursary you're eligible for in years 1–4 to be claimed during these final two years – we call this the six-year spread payment option and it's only available to MBBS students

How the six-year spread payment option works

  1. Between years 1 and 4 we will put aside 33% of your Imperial Bursary each year.
  2. We will pay half of your saved Imperial Bursary in years 5 and 6 respectively.  This will be paid on top of any bursary awarded in years 5 and 6.
  3. Like savings, we will pay 1% interest on any saved bursary in years 1–5 which we will pay to you in your final year.

Year 1

We will pay your bursary in eight instalments from November until June.

Years 2, 3 and 4

We will pay your bursary in nine instalments from October to June.

Years 5 and 6

We will plan your payments from August to June.

Students with an income of less than £16,000

Students with an income of less than £16,000
 
Year of studyTotal BursaryBursary in YearMonthly BursaryBursary accrued in Year
Total Bursary accruedInterest accrued
Year 1 £5,000 £3,333.33 £416.67 £1,666.67 £1,666.67 £16.67
Year 2 £5,000 £3,333.33 £370.37 £1,666.67 £3,333.33 £33.33
Year 3 £5,000 £3,333.33 £370.37 £1,666.67 £5,000 £50.00
Year 4 £5,000 £3,333.33 £370.37 £1,666.67 £6,666.67 £66.67
Year 5 £5,000 £8,333.33 £757.55   £3,333.33 £33.33
Year 6 £5,000 £8,333.33 + £200 interest £775.75      
Summary of the table's contents
  • Bursary payments will be paid in 8 instalments in in year 1, 9 instalments in years 2-4, and 11 instalments in years 5 & 6.
  • Non-compound interest of 1% will be allocated in years 1-5.

 

Students with an income of £16,001 to £50,000

Students with an income of £16,001 to £50,000
 
Year of studyTotal BursaryBursary in YearMonthly BursaryBursary accrued in Year
Total Bursary accruedInterest accrued
 Year 1 £4,000 £2,666.67 £333.33 £1,333.33 £1,333.33 £13.33
 Year 2 £4,000 £2,666.67 £296.30 £1,333.33  £2,666.66 £26.67
 Year 3 £4,000 £2,666.67 £296.30 £1,333.33
£3,999.99 £40.00
 Year 4 £4,000 £2,666.67 £296.30  £1,333.33
£5,333.32 £53.33
 Year 5 £4,000 £6,666.67 £606.06   £2,666.66 £26.67
 Year 6 £4,000 £6,666.65 + £160 interest £620.60      
Summary of the table's contents
  • Bursary payments will be paid in 8 instalments in year 1, 9 instalments in years 2-4, and 11 instalments in years 5 & 6.
  • Non-compound interest of 1% will be allocated in years 1-5.

 

Students with an income of £50,001 to £55,000

Students with an income of £50,001 to £55,000
 
Year of studyTotal BursaryBursary in YearMonthly BursaryBursary accrued in Year
Total Bursary accruedInterest accrued
 Year 1 £3,000 £2,000 £250.00 £1,000 £1,000 £10
 Year 2 £3,000 £2,000 £222.22 £1,000 £2,000 £20
 Year 3 £3,000 £2,000 £222.22 £1,000 £3,000 £30
 Year 4 £3,000 £2,000 £222.22 £1,000 £4,000 £40
 Year 5 £3,000 £5,000 £454.54   £2,000 £20
 Year 6 £3,000 £5,000 + £120 interest £465.45      
Summary of the table's contents
  • Bursary payments will be paid in 8 instalments in year 1, 9 instalments in years 2-4, and 11 instalments in years 5 & 6.
  • Non-compound interest of 1% will be allocated in years 1-5.

 

Students with an income of £55,001 to £60,000

Students with an income of £55,001 to £60,000
 
Year of studyTotal BursaryBursary in YearMonthly BursaryBursary accrued in Year
Total Bursary accruedInterest accrued
 Year 1 £2,000 £1,333.33 £166.67  £666.67 £666.67 £6.67
 Year 2 £2,000 £1,333.33 £148.15 £666.67
£1,333.34 £13.33
 Year 3 £2,000 £1,333.33 £148.15 £666.67
£2,000.01 £20.00
 Year 4 £2,000 £1,333.33 £148.15 £666.67
£2,666.68 £26.67
 Year 5 £2,000 £3,333.33 £303.03   £1,333.34 £13.33
 Year 6 £2,000 £3,333.34 + £80 interest £310.30      
Summary of the table's contents
  • Bursary payments will be paid in 8 instalments in year 1, 9 instalments in years 2-4, and 11 instalments in years 5 & 6.
  • Non-compound interest of 1% will be allocated in years 1-5.