The new system of student finance is a more progressive one. Not only do students not pay a penny up front for their tuition but graduates will only pay back their loans once they earn more than £21,000 – we have put up the student loan repayment threshold by £6,000, from £15,000, since 2010. Monthly repayments will be lower than under the old system too.
No-one with ambition and ability, whatever their background and family income, should come up against barriers to accessing higher education. The number of students in higher education has exceeded half a million for the first time and more students from disadvantaged backgrounds are going to university more than ever before. This is fantastic news and shows the Government’s reforms are working.
By Patrick McLoughlin on June 07, 2016