Education Reform
So… what is the whole fuss about the Education Reform?
As you might have heard, the Government has recently introduced changes to financing Higher Education Institutions. You might wonder what is this all about, how this will affect you or what are the main points of this policy. We hope to answer all your questions here. If you still have some doubts, drop an e-mail to Peter Lesniak – member of our Core Team who deals with Education Reform and Government policies!
How much will the universities charge?
With accordance to policy guidelines, Higher Education Institutions (HEI) will be able to charge students up to £9.000 per academic year. Nevertheless, every university charging over £6.000 will have to participate in the Government National Scholarship Programme (NSP) that provides financial assistance to students. Visit this site for the updated list of tuition fees on UK universities.
The new system of financing Higher Education Institutions will start in September 2012. If you’re starting your course this year, you will still be under the old financing system throughout the duration of the course.
No. You are not expected to pay for your University courses until you graduate. You can get a loan to cover the costs of your tuition fees which you will start paying back until you reach a level of £21.000 of your income.
To start with, you only repay your loan when you start earning £21.000 a year, or more. Then, you repay 9% of the total income ABOVE this threshold. So, for example: if your salary is £25.000, you only pay 9% out of the £4.000 which gives the estimate of around £30 pounds per month.
If you do not earn as much as £21.000 a year, you do not repay anything. It also applies to the situations when you take a gap from working or your earnings fall below the threshold. The repayments will normally be deducted from your salary (weekly or monthly).
Additionally, if you have not repaid your loan within 30 years of finishing your course, it is written off!
Loans to cover your living expenses will also be provided under the new system:
- A loan of up to £5.000 if you live away from home
- A loan of up to £7.675 if you live away from home and study in London
- A loan of up to £4.375 if you live with your parents
Can I study part-time and take up a loan?
Yes. Part-time students will also have access to loans provided that they will be studying at least 25% of the intensity of a full-time course.
What if I’m from Scotland, Ireland or Wales?
Students who study in Wales, Scotland and Ireland will not be subjected to the new government reform. Most likely, the system will stay the same and the difference in tuition fees will be subsidised by the Scottish Government, Welsh Assembly or the Northern Ireland Executive as appropriate.
