This briefing provides details of the new postgraduate loan system, including the consultation and the reaction to the announcement of the scheme.Jump to full report >>
The funding available to postgraduate students has generally been limited compared to that available for undergraduates. Concerns have been raised that this lack of funding could be contributing to a decline in the number of UK postgraduate students, particularly for taught courses, and could limit social mobility. As a result, a number of reports have recommended the introduction of a system of postgraduate loans.
In the Autumn Statement 2014, the Chancellor announced that the Government intended to introduce a new system of income contingent loans for some postgraduate students under the age of 30 on taught masters courses from 2016-17. The March 2015 budget additionally announced that the Government intended to introduce income-contingent loans of up to £25,000 for PhDs and research-based masters degrees.
On 25 March 2015, the Coalition Government published a consultation on the proposed loans systems. A response to the consultation was published in November 2015. This stated that loans of up to £10,000 for both taught masters courses and research-based masters would be available from 2016-17. Under the scheme:
With regards to PhD students, the consultation response stated that the Government was “committed to the introduction of income-contingent loans for Doctoral study”. No further information was provided.
Commons Briefing papers SN07049
Authors: Susan Hubble; David Foster
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