Postgraduate 2016 loans

Hi everyone,
I'm looking to apply for a postgraduate masters in 2016 but wanting some information on the current status of the new loans that were discussed in the Autumn Statement?

Reply 1

jelly1000

21

Original post by SophieCR21

Hi everyone,
I'm looking to apply for a postgraduate masters in 2016 but wanting some information on the current status of the new loans that were discussed in the Autumn Statement?

as far as im aware there has been no update on them i.e. nothing is confirmed

Reply 2

returnmigrant

21

The Tories have not mentioned it since the Election.

It was all promise and no substance.

Reply 3

Jantaculum

10

Original post by SophieCR21

Hi everyone,
I'm looking to apply for a postgraduate masters in 2016 but wanting some information on the current status of the new loans that were discussed in the Autumn Statement?

As it was a proposal of the previous government (ie the Coalition not the Conservatives) the current government has no commitment to it.

The results of the consultation are overdue, but due to be published 'in the autumn', whenever that is.

It's still theoretically possible but not looking likely.

This is the link you need for updates (note the big blue banner at the top which is a massive disclaimer) but it hasn't changed since May…

https://www.gov.uk/government/consultations/postgraduate-study-student-loans-and-other-support

Posted from TSR Mobile

(edited 8 years ago)

Reply 4

OriginOfShowbiz

1

Original post by Jantaculum

As it was a proposal of the previous government (ie the Coalition not the Conservatives) the current government has no commitment to it.

The results of the consultation are overdue, but due to be published 'in the autumn', whenever that is.

It's still theoretically possible but not looking likely.

This is the link you need for updates (note the big blue banner at the top which is a massive disclaimer) but it hasn't changed since May…

https://www.gov.uk/government/consultations/postgraduate-study-student-loans-and-other-support

Posted from TSR Mobile

It seems like that page was updated today...

"Detail of outcome
We are introducing a master’s loan scheme, whereby master’s students under 60 can access a loan of up to £10,000 as a contribution towards the cost of their study.
The master’s loan scheme is part of the government’s long-term commitment to enhance support for postgraduate study. This will make the UK more globally competitive by increasing the number of those with high-level skills and knowledge."

Reply 5

SmaugTheTerrible

15

The tories did one damn thing right. They actually pulled through!

Reply 6

TimeWalker

18

Original post by OriginOfShowbiz

It seems like that page was updated today...

"Detail of outcome
We are introducing a master’s loan scheme, whereby master’s students under 60 can access a loan of up to £10,000 as a contribution towards the cost of their study.
The master’s loan scheme is part of the government’s long-term commitment to enhance support for postgraduate study. This will make the UK more globally competitive by increasing the number of those with high-level skills and knowledge."

It seems to have been updated today. According to the terms (read the pdf) they will be introduced from next September.

Also it seems anyone up to 60.

Edit: This will personally help me to do a master's. I'm not sure if it will help things in the way the government is hoping though. If you look at the .gov page, the brief says that 'This will make the UK more globally competitive by increasing the number of those with high-level skills and knowledge' even though many master's degrees don't really confer the high level skills that this brief is suggesting...

(edited 8 years ago)

Reply 7

Jantaculum

10

Original post by OriginOfShowbiz

It seems like that page was updated today...

"Detail of outcome
We are introducing a master’s loan scheme, whereby master’s students under 60 can access a loan of up to £10,000 as a contribution towards the cost of their study.
The master’s loan scheme is part of the government’s long-term commitment to enhance support for postgraduate study. This will make the UK more globally competitive by increasing the number of those with high-level skills and knowledge."

Thanks for pointing this out - off to read the small print now, but absolutely delighted that at least some people will be able to access Masters study who wouldn't otherwise have been able to do so.

(and gobsmacked to see that it's up to 60 - I think that's brilliant)

Reply 8

returnmigrant

21

Yes, but it still doesn't say WHEN.

And that it wasn't mentioned in today's Statement means the Tories still aren't committed to it.

Don't get excited folks, really just don't.

Reply 9

PostGrad221

14

Original post by returnmigrant

Yes, but it still doesn't say WHEN.

And that it wasn't mentioned in today's Statement means the Tories still aren't committed to it.

Don't get excited folks, really just don't.

I've just read the document released today. It clearly states they 'will' be available for the 2016/17 academic year.

Your being too pessimistic. You didn't even think they would ever be mentioned again.

:smile:

Reply 10

Snufkin

Universities Forum Helper

21

I thought I would be happy about the cap being raised but all these loan repayments add up into a pretty hefty chunk of one's salary. Not sure it's worth it to be honest.

Reply 11

Juichiro

18

Original post by Snufkin

I thought I would be happy about the cap being raised but all these loan repayments add up into a pretty hefty chunk of one's salary. Not sure it's worth it to be honest.

That's the negative aspect of it I guess. If you take up this loan, you will pay at the same time that you pay your undergrad so your salary goes down quite a lot.

Reply 12

username2228735

15

Original post by returnmigrant

The Tories have not mentioned it since the Election.

It was all promise and no substance.

Original post by returnmigrant

Yes, but it still doesn't say WHEN.And that it wasn't mentioned in today's Statement means the Tories still aren't committed to it.Don't get excited folks, really just don't.

www.gov.uk

There will be a one year delay in loan repayment for courses undertaken in academicyear 2016/17

Meaning it will be available for the upcoming academic year.

Reply 13

username1867425

1

Original post by Snufkin

I thought I would be happy about the cap being raised but all these loan repayments add up into a pretty hefty chunk of one's salary. Not sure it's worth it to be honest.

Original post by Juichiro

That's the negative aspect of it I guess. If you take up this loan, you will pay at the same time that you pay your undergrad so your salary goes down quite a lot.

Yeah, it states however that it has decreased the Postgraduate Loan from 9% to 6% repayment, which is an improvement, however it's still paid alongside the 9% from Undergraduate.

EDIT: 3.121 Postgraduate Taught Masters Loans – The government will lift the age cap for new postgraduate loans, so they are available to all those under 60, and reduce the repayment rate from 9% to 6% of income over £21,000. Loans will be introduced from 2016-17.

(edited 8 years ago)

Reply 14

returnmigrant

21

A BBC report gives the loans as part of an education funding package 'from 2017' : http://www.bbc.co.uk/news/education-34921585

Do not get excited folks.

Reply 15

Snufkin

Universities Forum Helper

21

Original post by returnmigrant

Do not get excited folks.

I don't think your negative outlook is warranted. Whether it comes out in 2016 or 2017 is neither here nor there. Waiting a year to start your MA is not the end of the world.

Reply 16

PostGrad221

14

Original post by returnmigrant

A BBC report gives the loans as part of an education funding package 'from 2017' : http://www.bbc.co.uk/news/education-34921585

Do not get excited folks.

You're taking a particularly negative outlook.

I've read the autumn statement, the consultation document, the document that announced the loans, the report from the Higher Education Funding Council and various masters funding website. All have clearly confirmed the loans for the 2016/17 academic year.

I'm not saying that they WILL without any doubt come into being, but the evidence is indicating that they more than likely will be available for this upcoming academic year.

Reply 17

username2228735

15

Right, so BBC > government statement? Great logic.

Postgraduate 2016 loans

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