Government announce £10,000 Student Loan for Postgraduate Degrees Watch

Jacketh
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A student loan system for postgraduate master's degrees has been announced in the chancellor's Autumn Statement.

George Osborne said it would "revolutionise" access to postgraduate university courses He said the cost of postgraduate courses "deters bright students from poorer backgrounds".The National Union of Students' vice president, Megan Dunn, described the move as a "major step in the right direction"."Creating a government-backed postgraduate loans scheme will make a fundamental difference to the lives and opportunities of students. "Many postgraduates are currently funding their study through potentially disastrous measures such as credit cards, overdrafts and personal loans," said Ms Dunn.
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I assume this will replace the Careers Development Loan, not be addition to?

Great news, anyway.

http://www.bbc.co.uk/news/education-30293964

The government-backed loans, worth up to £10,000, will be available from 2016-17 and will benefit 40,000 students.
They will be offered in any master's subject, but only to students under the age of 30, and will be repaid concurrently with undergraduate loans.
Michael Gunn, chair of the Million+ group of universities, said that the announcement would help to reverse a decline in postgraduate study.
The Autumn Statement also included funding for science research centres.


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TimeWalker
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Edit: Sorry yes I've not been following the statement. I'm guessing this will take effect from next September, either way this will no doubt be welcomed by postgrads. I've been considering doing a stint in the army to fund an MSc and I'm glad to hear that there will be a support system.
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sliceofcake
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I think it's this http://www.bbc.co.uk/news/education-30293964
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Jacketh
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I'm curious how much it will really help those who can't afford it though. I mean, some courses are around £12000, even more. That is without living costs for the year. Am I being picky in saying there should be a maintenance grant, as well? A £10,000 loan was already avaliable with the Careers Development Loan. Making that a 'Student Loan', just makes repayment nicer.
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MatureStudent36
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(Original post by Jacketh)
I'm curious how much it will really help those who can't afford it though. I mean, some courses are around £12000, even more. That is without living costs for the year. Am I being picky in saying there should be a maintenance grant, as well? A £10,000 loan was already avaliable with the Careers Development Loan. Making that a 'Student Loan', just makes repayment nicer.
You are being picky asking for a grant as well.
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Jacketh
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(Original post by MatureStudent36)
You are being picky asking for a grant as well.
Maybe I am, but I fail to see how this achieves the aim of 'making it easier for those disadvantaged students to stay in academia'. It is virtually the Careers Development Loan made nicer. Unless I'm mistaken and you'll be allowed a Careers Development Loan on top of the new £10,000 loan, but I doubt that.

Disadvantaged students receive grants and loans with an undergraduate degree to ensure they can go to university and live there. If the government wants to do the same with postgraduate degrees, they should get the same help.
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Everglow
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Moved to Educational Debate.

It's about time post-grads got some support, even if it is just a loan they will have to pay back with interest anyway.
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hellodave5
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(Original post by Jacketh)
Maybe I am, but I fail to see how this achieves the aim of 'making it easier for those disadvantaged students to stay in academia'. It is virtually the Careers Development Loan made nicer. Unless I'm mistaken and you'll be allowed a Careers Development Loan on top of the new £10,000 loan, but I doubt that.

Disadvantaged students receive grants and loans with an undergraduate degree to ensure they can go to university and live there. If the government wants to do the same with postgraduate degrees, they should get the same help.
TBH the CDL system is pretty bad. Funding is a big worry for post grad students. Was for me when starting mine.
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Jacketh
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First post updated

(Original post by hellodave5)
TBH the CDL system is pretty bad. Funding is a big worry for post grad students. Was for me when starting mine.
Yeah, it is certainly a step forward and will make it easier for some. I do think more incentives and helps need to be given though, like said in the BBC article.. 'If we really want to expand the number of UK postgraduates, government must consider even more radical ideas such as restoring proper grants or writing off part of a student's undergraduate debt when they complete a postgraduate course."


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hellodave5
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(Original post by Jacketh)
First post updated



Yeah, it is certainly a step forward and will make it easier for some. I do think more incentives and helps need to be given though, like said in the BBC article.. 'If we really want to expand the number of UK postgraduates, government must consider even more radical ideas such as restoring proper grants or writing off part of a student's undergraduate debt when they complete a postgraduate course."


Yeah, was a really good and well needed move.
I just think the undergraduate cost is FAR too expensive for the individual now - £27,000. I'm not looking forward to trying to gather together another £36,000 ish so I can apply to medicine after my post-graduate masters!

Certainly wouldn't complain about subsidisation as a graduation present lol - though I'm not sure why the UK would want more post-graduates. Are we lacking?
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PQ
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Be interesting to see if this will coincide with the government pulling the current subsidy universities get for pg students. That's what they did with the increase in ug fees/loans...
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Jacketh
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Well the government is aiming for 50% of students to get into university. I think when so many are going, that obviously increases the likelihood of more going onto the a postgraduates degree. Also, when so many are now getting degrees, I guess some will want to stand out by having a postgraduate degree.
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Daftpunker
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Whilst I think this is a good thing I'd rather have it injected into helping first timers at uni.

Not to be ultra negative or specticle but many (possibly most) people who do a PG course do it because their standard degree has failed to land them the job they crave...and it seems a good option to kill a few more years rather than enter full-time employement.
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PQ
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(Original post by Jacketh)
Well the government is aiming for 50% of students to get into university.
Not this government.
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bertstare
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Will it include postgrad medicine?
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PQ
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(Original post by bertstare)
Will it include postgrad medicine?
Graduate Entry Medicine isn't a postgraduate level course - the award is an undergraduate degree.
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FloydRix
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Amazing. Hope it comes it. Currently unable to pay for a masters
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bertstare
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(Original post by PQ)
Graduate Entry Medicine isn't a postgraduate level course - the award is an undergraduate degree.
Oh dey mean like dat
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Joinedup
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This was rumoured ahead of the announcement, some versions of the rumour had it that only STEM would be eligible. Not really sure what simply funding any masters is supposed to be doing for the country, unemployed history graduates with Russell group 2.1s aren't unemployed because they've only been sitting through 3 years of history instead of 4.
Employers complaining about the unemployability of graduates are generally talking about really basic issues in written and verbal communication and innumeracy issues. one more year of taught uni isn't going to fix that type of problem.
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nulli tertius
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The government-backed loans, worth up to £10,000, will be available from 2016-17 and will benefit 40,000 students. The proposals expect to bring an extra 10,000 students into postgraduate study.
This is rather like the 13,000 migrants who would come from opening up the EU to Eastern European nations.
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