Tag Archives: financial advice for students

Alternative ways to get a degree

Last week we appeared on BBC Radio 4’s Money Box programme to discuss alternative ways of funding a degree. While we were invited to speak about possibilities for British students abroad, other guests focussed on higher apprenticeships and the latest information on the cost of studying in England.

You can download the entire broadcast here.

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Filed under International Higher Education, Scholarships and financial aid, Uncategorized

Government goes back on its word regarding tuition loan repayment threshold

About four years ago when the new fees regime and related changes to student finance were being announced we took part in a BBC Radio 4 Money Box special edition. One of the other guests was Martin Lewis, money saving expert and, at the time, front man for the government’s campaign to inform the public about the forthcoming changes.

I argued that the changes to student finance were one thing but the payment terms that students would enjoy for the thirty year period after graduation were quite another. It seems that the government has taken the first opportunity it could to go back on its word and amend the terms of repayment and they have backdated these changes to affect everyone who has one of the new loans, even those who have already graduated. Mr Lewis has already made his opinion clear on this act of deception.

The changes announced (that the £21,000 starting point for repayments will not rise in line with inflation) will not have an immediate impact but over the lifetime of most loans it is estimated that the average student will repay an additional £6,000 if the threshold is not increased in the future. This will particularly penalise median earners who are making some repayments but cannot make a significant reduction in the capital of their loan. As no student has yet made any repayment under the new regime I can only speculate that projections for rates of repayment are lower than the worst estimates currently in circulation and the Chancellor is just getting in early with this amendment. How long will it be before 9% of earnings over the threshold becomes 10% or more?

I don’t want this blog to be about the bad hand being dealt English students right now. You can find far better analysis of this elsewhere. However, there can be no doubt that the best advice we can offer students considering a Bachelor’s degree here: have you thought seriously about leaving the country?

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Filed under Student Mobility, study abroad advice, Study Abroad Facts, Uncategorized