The Chancellor of the Exchequer George Osborne announced in the Autumn Statement 2014 that the Government would introduce income-contingent loans for students under 30 who want to enrol on a postgraduate taught masters in any subject.
These loans, of up to £10,000, are planned to be available from 2016-17. He later announced in the Budget, plans for a £25,000 loan for doctoral students.
Postgraduate study is vital to ensure Britain develops and grows global talent. We are looking forward to these loans being made available for all post-graduate students – a sure way to secure the UK’s future competitiveness. However, the government still need to put the higher education funding system on a more sustainable footing.
We commented on this announcement earlier this year. See our response here.