Students: Finance

(asked on 31st October 2024) - View Source

Question to the Department for Education:

To ask the Secretary of State for Education, whether her Department plans to support students with (a) the cost of living and (b) accommodation costs.


Answered by
Janet Daby Portrait
Janet Daby
Parliamentary Under-Secretary (Department for Education)
This question was answered on 8th November 2024

The government is determined that the higher education funding system should deliver for our economy, for universities and for students. This government is committed to supporting the aspiration of every person who meets the requirements and wants to go to university.

The government recognises the impact that the cost of living crisis has had on students. That is why we are increasing the maximum maintenance loans for living costs for the 2025/26 academic year by 3.1%, in line with the forecast rate of inflation, to ensure that more support is targeted at students from the lowest income families.

Maximum maintenance loans will increase in line with forecast inflation, giving students up to an additional £414 a year of support in the 2025/26 academic year. This is the increase in the maximum loan for living costs for students living away from, and studying in, London from £13,348 to £13,762.

Therefore, a student living away from home and studying outside London on a household income of £25,000 or less will qualify for a maximum loan for living costs of £10,544 for the 2025/26 academic year, an increase of £317 compared to 2024/25. Students living away from home and studying in London will qualify for higher rates of loan, as will students eligible for benefits and some disabled students.

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