We asked experts on whether the current funding system for student tuition and maintenance loans need to change.
Maintenance Loans have never been enough, but in the past two years, students in England have seen real-terms cuts of up to £1,500 due to errors in forecasting inflation. The minimum parental income threshold has been frozen for over a decade, meaning fewer and fewer students are entitled to the maximum loan. Universities have had their real-terms income cut, making them less able to support their students, and more reliant on the income from international students – simply not feasible for some unis.
Short-term, loans must be increased above and beyond the rate of inflation to close the shortfall that's emerged. In the medium- to long-term, we need overall levels of maintenance funding to increase to adequately cover living costs, with some of this covered by the reintroduction of grants.
The minimum income threshold must rise to reflect inflation since it was first implemented. Experts place this between £30-35,000.
