PARLIAMENTARY WRITTEN QUESTION
Students: Loans (22 May 2023)

To ask the Secretary of State for Education, whether she has made an assessment of the potential merits of increasing student maintenance loans above the planned 2.8 per cent given the current level of inflation.

Asked by:
Ashley Dalton (Labour)

Decisions on student support for higher education courses are taken on an annual basis and changes for the 2023/24 academic year were made through regulations laid in January 2023. The department has continued to increase maximum loans and grants for living and other costs on an annual basis, with a 2.3% increase for the 2022/23 academic year and a further 2.8% increase for 2023/24.

The government recognises the additional cost of living pressures that have arisen this year which have impacted students. On 11 January 2023 the department announced a one-off funding boost of £15 million to this year's student premium. There is now £276 million of student premium funding available this academic year to support disadvantaged students who need additional help. This extra funding will complement the help universities are providing through their own bursary, scholarship and hardship support schemes.

Furthermore, students who have been awarded a loan for living costs for the 2022/23 academic year that is lower than the maximum, and whose household income for the tax year 2022/23 has dropped by at least 15% compared to the income provided for their original assessment, have been able to apply for their entitlement to be reassessed.

Answered by:
Robert Halfon (Conservative)
31 May 2023