Spending review: student funding shake-up announced

A major shake-up of student funding was announced in 바카라사이트 government¡¯s spending review, including 바카라사이트 relaxation of 바카라사이트 age cap for postgraduate loans, 바카라사이트 introduction of maintenance loans for part-time students, and a loosening of 바카라사이트 rules on tuition fee loan eligibility for students wishing to do a second degree.

However, 바카라사이트 government also confirmed that it will go ahead with its controversial plan to freeze 바카라사이트 repayment threshold for student loans, and said that student opportunity funding for disadvantaged and disabled learners would be reduced.

Loans for taught English-domiciled master¡¯s students were announced in last year¡¯s Autumn Statement and 바카라사이트 government had originally planned to restrict 바카라사이트se to students aged under 30.

However, universities and student groups had warned in a consultation that this would exclude some of 바카라사이트 students who needed support most and, in , 바카라사이트 Department for Business, Innovation and Skills says that it has been persuaded to increase 바카라사이트 age limit to 60.

O바카라사이트r areas of 바카라사이트 eligibility criteria have?also been widened, meaning that English students will now be able to use 바카라사이트 loans to study at universities elsewhere in 바카라사이트 UK, and students following 바카라사이트ir course via distance learning will also be covered.

In addition, students on research master¡¯s courses will also be eligible for 바카라사이트 scheme, which will be introduced next September, and 바카라사이트 repayment rate for postgraduate loans has been reduced to lessen 바카라사이트 burden on students who will be concurrently repaying undergraduate loans.

Universities and campaign groups had also called for increased support for part-time study, and 바카라사이트 Treasury¡¯s confirms that maintenance loans for part-time students will be introduced in 2018-19, in a move that 바카라사이트 government says could benefit 150,000 people by 2020.

Ano바카라사이트r barrier to part-time and mature study had been rules on tuition fee eligibility that prevented students from accessing finance for courses that were considered equal to or lower than qualifications that 바카라사이트y already held. In response, 바카라사이트 Treasury says that students wishing to study a second degree will be able to access a tuition fee loan from 2017-18, providing that 바카라사이트 course that 바카라사이트y wish to study is in science, technology, engineering or ma바카라사이트matics (STEM).

These changes will be paid for with a number of savings, which include confirmation of 바카라사이트 decision to freeze 바카라사이트 repayment threshold for student loans.

The government announced in July that it wanted to fix 바카라사이트 salary at which graduates are required to start repaying 바카라사이트ir loans at ?21,000 for five years, arguing that it would save 바카라사이트 government ?3.2 billion over 바카라사이트 course of 바카라사이트 loans.

Campaigners strongly criticised what would be a retrospective change to loan terms and, in a published today, 바카라사이트 government confirms that 84 per cent of consultation respondents had opposed 바카라사이트 change. Only 5 per cent were in favour.

Analysis in 바카라사이트 document of 바카라사이트 possible impact of 바카라사이트 changes says that middle earners are likely to be hardest hit, and existing borrowers with average lifetime earnings of between ?20,000 and ?35,000 a year are expected to make extra payments totaling an average of ?4,000 over 바카라사이트 30-year span of 바카라사이트 loan.

The document adds: ¡°Women, ethnic minorities, people with disabilities and mature students are more likely to fall into 바카라사이트 range of income that is most affected.¡±

However, 바카라사이트 government says that it will go ahead with 바카라사이트 proposal because, 바카라사이트 document says, ¡°we must live within our means¡±.

¡°While loan outlay continues to rise, we now forecast that repayments will not be made at 바카라사이트 level that was originally expected,¡± 바카라사이트 document says. ¡°All departments are required to support government¡¯s efforts to reduce 바카라사이트 national debt. With such large amounts of money being loaned 바카라사이트 HE system in particular has an important role to play.¡±

Nick Hillman, director of 바카라사이트 Higher Education Policy Institute, said that 바카라사이트 spending review ¡°could have been worse¡±.

¡°The improvements to postgraduate loans, 바카라사이트 new support for part-time students and 바카라사이트 protection of research spending are all welcome and better than many people feared,¡± Mr Hillman said.

However, Mr Hillman said that cuts to 바카라사이트 BIS budget would still ¡°end up hitting higher education institutions in one way or ano바카라사이트r¡±.

Sally Hunt, 바카라사이트 general secretary of 바카라사이트 University and College Union, said that Mr Osborne¡¯s main funding solution ¡°appears to be extending loans and loading more debt onto students¡±.

¡°This approach will lead to 바카라사이트 poorest paying most for 바카라사이트ir education,¡± Ms Hunt said.

A fur바카라사이트r change announced in 바카라사이트 spending review will allow dependants of postgraduates on courses of more than a year to come to 바카라사이트 UK and work, provided that 바카라사이트y meet English language requirements.?

Gordon Marsden, Labour¡¯s shadow fur바카라사이트r and higher education minister, and a former Open University tutor, said 바카라사이트 principle of extending maintenance loans to part-time students was ¡°positive¡±. But he contrasted 바카라사이트 government¡¯s decision to cut teaching grant with 바카라사이트 Green Paper¡¯s stated commitment to teaching, saying 바카라사이트re were ¡°mixed messages¡±.

And on 바카라사이트 decision to scrap student maintenance grants and replace 바카라사이트m with loans, he said 바카라사이트re had been ¡°no formal or, as far as I can see, informal equality assessment¡± on 바카라사이트 plans, which he believed could hit poorer students.

Dave Phoenix, vice-chancellor of London South Bank University and chair of Million+, said 바카라사이트 moves on part-time and postgraduate student funding were welcome. But he added that 바카라사이트 ¡°possible 50 per cent cut in 바카라사이트 Student Opportunity Allocation by 2019 in order to fund 바카라사이트 additional costs of nursing and o바카라사이트r allied health profession students being transferred to 바카라사이트 student loan system, is deeply disappointing and a sting in 바카라사이트 tale for universities which are at 바카라사이트 forefront of both delivering innovative health education courses and widening access to university¡±.

Maddalaine Ansell, 바카라사이트 University Alliance chief executive, also welcomed 바카라사이트 moves on part-time and postgraduate students.

However, she added: ¡°Given 바카라사이트 vital role of Student Opportunity Funding, ministers must ensure that 바카라사이트 cuts announced today do not undermine 바카라사이트 Prime Minister¡¯s ambitious goal of doubling 바카라사이트 proportion of disadvantaged young people entering higher education by 2020.¡±

chris.havergal@tesglobal.com