The importance of lifelong learning cannot be overstated. Data from the Office for National Statistics shows there are one million more professional jobs in the UK than workers with degrees to fill them.
With increasing demand for skilled professionals, an aging population and generative AI creating a technological revolution, individuals will need access to education and training throughout their lives.
The lifelong loan entitlement (LLE) offers a promising answer to some of these challenges. With the dust now settled on the UK Government’s consultation response, we can start asking what the higher education sector can do to support its success.
The entitlement is equivalent to four years of post-18 higher education funding (£37,000 currently).
The LLE will do two things:
- Replace the current higher education student funding system. Yes, even your typical full-time, three-year undergraduates will draw their funds from the LLE.
- Expand funding to modular and flexible provision, allowing learners to study qualifications in chunks and take breaks. This is what’s novel about the LLE.
