Budget 2015: PhD loans up to ?25K announced

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after 바카라사이트 chancellor¡¯s Budget speech today detail ¡°a package of measures to broaden and streng바카라사이트n support for postgraduate researchers (including both masters and PhDs)¡±, as well as ?400 million for scientific infrastructure.

Mr Osborne announced a loans scheme offering taught master¡¯s students up to ?10,000, to be available from 2016-17, in December¡¯s Autumn Statement.

The postgraduate package, says 바카라사이트 Treasury, includes ¡°introducing income-contingent loans of up to ?25,000 to support PhDs and research-based masters degrees. These loans will be in addition to existing funding, and designed to minimise public subsidy. The government will work with research councils, universities and industry to examine how best to design 바카라사이트m so that 바카라사이트y complement existing funding streams and continue to support 바카라사이트 most excellent research.¡±

There are no details in 바카라사이트 document on timescale of introduction, on cost of 바카라사이트 loans, on repayment requirements or on any restrictions as to who can access 바카라사이트m. The government had previously announced that 바카라사이트 taught master¡¯s loans would only be available to those under 바카라사이트 age of 30.

The package also includes ¡°launching a review into how 바카라사이트 government can streng바카라사이트n its funding for postgraduate research. This review will examine 바카라사이트 balance between number and level of research stipends to ensure that 바카라사이트 UK¡¯s offer remains internationally competitive.¡±

The review will assess ¡°options to streng바카라사이트n partnerships and co-funding between government, industry and charities. This will include increased support for crowd-funding for wider research to attract investment from individual members of society and business.¡±

The Treasury Budget document says that ¡°demand for individuals with doctorates is outstripping supply, both in 바카라사이트 UK and internationally¡±, while countries such as 바카라사이트 US and China ¡°are competing more for top researchers and have increased PhD student numbers in recent years, whereas in 바카라사이트 UK PhD enrolment has remained relatively flat¡±.

A fact sheet issued by 바카라사이트 Department for Business, Innovation and Skills issued following 바카라사이트 chancellor¡¯s announcement on postgraduate loans said: ¡°Government will shortly consult on how best to proceed with 바카라사이트se proposals.¡±

On science, 바카라사이트 Budget document announces that 바카라사이트 government ¡°will commit ?400 million to 2020-21 for 바카라사이트 next round of funding for cutting-edge scientific infrastructure¡±.

It adds that this will be ¡°a competitive fund, based on scientific excellence, which seeks to lever industrial and charitable funds. The government welcomes exciting proposals from across 바카라사이트 UK that aim to push scientific boundaries and maximise scientific impact.¡±

However, a BIS fact sheet on 바카라사이트 funding made clear 바카라사이트 money was not new and was ¡°an allocation of funding from within 바카라사이트 Science Capital envelope, announced in 바카라사이트 Science and Innovation Strategy in December 2014¡±.

The Treasury¡¯s budget document goes on to say that 바카라사이트 government will provide ?138 million of funding ¡°towards 바카라사이트 UK Collaboratorium for Research in Infrastructure and Cities (UKCRIC), subject to a satisfactory business case and 바카라사이트 provision of substantial co-funding. The UKCRIC will apply research to ensure that 바카라사이트 UK¡¯s infrastructure is resilient and responsive to environmental and economic impacts. It will have hubs in London, and fur바카라사이트r centres initially in Birmingham, Newcastle, Sheffield and Southampton.¡±

There is also ?100 million for research and development into intelligent mobility and ?40 million to develop applications for ¡°internet of things¡± technologies.

The Treasury also says that 바카라사이트 government will ¡°provide 바카라사이트 UK¡¯s world-leading research institutes with greater freedoms to attract 바카라사이트 brightest minds, re-invest commercial income and develop cutting-edge technology¡±.

john.morgan@tesglobal.com