Income of £8,100 Recommended for Students | Redbrick | University of Birmingham

Income of £8,100 Recommended for Students

An independent review of student finance, published by the Scottish Government earlier this week, has recommended a minimum student income of £8,100 for both further and higher education

An independent review of student finance, published by the Scottish Government earlier this week, has recommended a minimum student income of £8,100 for both further and higher education.

The establishment of a minimum student income is an essential step forward in delivering fairness

The 12-month report, which surveyed students from across Scotland’s universities, concluded that better financial support ‘would encourage students from all backgrounds’ to enter university and college education, ‘with confidence and clarity about their entitlement to funding.’

Although, the SAAS has been funding tuition for what it classifies as ‘Young Students’ since the abolition of Scottish graduate endowments in 2007, the crippling effect of rising student living and accommodation costs across Britain, as well as the UK Government’s recent abolition of maintenance grants for favour of loans, has had an impact on university-goers from all over the country.

Regarding the repayment of student loans, the review suggests that loans are charged at a rate of 1% over the Bank of England base rate. By comparison, the current interest rate on Scottish student loans is 1.25% - while in England, rates fluctuate from 3-6% depending on individual / family earnings.

Jayne-Anne Gadhia, CEO of Virgin Money and chair of the review, has stated that ‘the establishment of a minimum student income is an essential step forward in delivering fairness, and helping to ensure that money is no longer a reason for dropping out of courses.’

The Scottish National Party says it will take time to consider and address the recommendations laid out in Gadhia’s review ‘in due course.’

The UK Government are yet to comment.

I like music and writing. You can see why I'm here. (@thomdent)



Published

19th December 2017 at 9:00 am



Images from

Kim Traynor



Share