The recently announced Autumn Statement brings promising news for students across the United Kingdom.
A standout feature of the autumn statement is the consistent annual increase in maintenance loans (by 2.8% in 2023/24 – which experts say that this is roughly in line with current projections of inflation). This policy adjustment not only addresses the rising costs associated with pursuing higher education but also signifies a commitment to providing the highest-ever amounts in cash terms for disadvantaged students. The aim being to level the playing field and dismantle barriers that may hinder educational aspirations.
In addition to bolstering maintenance loans, the government has allocated up to £261 million through the Office for Students to enhance university hardship funds. This injection of funds allows universities to strengthen their support systems for students facing financial challenges.
For students concerned about making ends meet, the autumn statement underscores the importance of proactive engagement with their universities. By initiating conversations about financial worries, students can tap into the support structures available to them, including the augmented hardship funds.
Head of Strategy, Jason Baker is excited about the impact of the autumn statement on our student recruitment efforts;
“In the face of the ongoing cost of living crisis, the heightened emphasis on supporting students through increased maintenance loans and additional funding for university hardship funds creates a compelling narrative for prospective students. The key to bringing this story to life lies in dramatising it through engaging and impactful content.”
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