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Autumn Statement: Government to introduce postgraduate student loans

The government is to introduce student loans for postgraduates as part of a raft education reforms unveiled in the Autumn Statement. 
 
From 2016-17, income contingent loans of up to £10,000 will be available to those under 30. Chancellor George Osborne said the move would benefit around 40,000 students and enable 10,000 more to take postgraduate courses every year.
 
As a bridging measure, the government will allocate £50 million to universities in 2015-16 to offer bursaries to up to 10,000 students.
 
In other announcements, the government promised to make it cheaper for employers to hire apprentices. It will abolish employer national insurance contributions for apprentices aged under 25, benefiting employers of "around half a million apprentices".
 
It follows a fall in apprentice starts this year, and mounting concern over proposed funding rules which could raise costs for employers.
 
Other funding pledges include:
 
£141 million for the Olympicopolis project to redevelop the Queen Elizabeth Olympic Park. This will support the construction of a new higher education and cultural quarter carried out in partnership with University College London, the Victoria and Albert museum, University of the Arts London and Sadler’s Wells
 
£750,000, matched by industry and education providers, for the new National College for Onshore Oil and Gas in Blackpool
 
£10 million to drive up educational standards in areas of the North with the weakest provision, by helping outstanding local academies sponsor local schools and supporting the expansion of the very best academy chains
 
£20 million to improve careers advice and support for young people
 
A £2 million extension of the existing Childcare Business Grant scheme to cover 2015-16, doubling the funding available through this scheme to support the creation of new childcare places.
 
 


Posted on: 03/12/2014




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