English higher education reworked: what are the likely outcomes of the Government’s new student loan and tertiary participation package?
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On Thursday the UK government announced major changes to the higher education system in England. Tuition fees have been frozen at £9250 for at least another three years, to 2024-25, meaning that amid growing inflation real funding to higher education will drop significantly. Repayment by new student loans borrowers will start at a lower level of £25,000 and the lifetime period of repayment has been extended from 30 to 40 years. These moves together will increase the proportion of student loans that go back to the government but have been criticised as regressive, as they benefit high income earners, while lower middle income earners, followed by low income earners, see their costs increase. However, the interest rate charged on new loans has been capped and will no longer exceed the rate of inflation. There’s a £75 million new national scholarship programme for ‘talented disadvantaged students’, but the Department of Education will conduct a consultation on ways of restricting access to student loans on the basis of school-level performance, which if it happens will hit disadvantaged students. More positively, the idea of a lifelong learning entitlement stretching across higher education and further education moved a step closer: this will also be the subject of a consultation.
These are major changes and CGHE’s panel of Claire Callender, James Robson and Chris Millward will help you digest them. Don’t miss this policy hot webinar!
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Simon Marginson is Professor of Higher Education at the University of Oxford, Director of the ESRC/RE Centre for Global Higher Education (CGHE), Joint Editor-in-Chief of Higher Education, Senior Research Fellow with Higher School of Economics in Moscow, and a Professorial Associate with the University of Melbourne. Simon’s research is focused primarily on global and international higher education, the global science system, higher education in East Asia, the contributions of higher education and higher education as a public good, and higher education and social inequality. At Oxford he team teaches in the MSc Education pathway on Higher Education. Current books are Changing Higher Education in India (edited with Saumen Chattopadhyay and NV Varghese), and Changing Higher Education in East Asia (edited with Xin Xu), both published by Bloomsbury.
