New proposals to give students more financial help with university costs have been lodged today by the Council of Ministers.
The means-tested scheme for higher education funding now includes a higher maintenance grant for living expenses and an upper cap of £200,000 on annual household income, up from £150,000.
The changes to the original plan announced by the Treasury Minister in the 2017 Budget speech are designed to give extra help to lower income families.
- Households earning under a £110,000 a year get full tuition fees up to £9,250
- Those earning between £110,000 and £200,000 receive smaller amounts on a sliding scale
- Families earning less than £50,000 also get an increased grant for living costs of £7,500
- Smaller grants are available for incomes up to £90,000
The new scheme includes a built-in review every 5 years so the level of the grant is maintained in inflationary terms.