Student loan information for part-time learners
The Independent Taskforce on Student Finance Information has launched a series of part-time student finance materials to coincide with Adult Learners' Week (12-18 May 2012):
- Part-time guide in pdf format, You Can Afford To Go To Uni: www.studentfinance2012.com/files/PT_StudentGuide_Booklet_Low.pdf
- Part-time video featuring Martin Lewis www.youtube.com/watch?v=X8SwKyG3xL0
- A student finance calculator that will enable prospective part-time students to work out what they will actually pay back, as opposed to the widely quoted 'price tag', is also being launched by MoneySavingExpert www.moneysavingexpert.com/students/student-finance-parttime-calculator
Martin Lewis, founder of MoneySavingExpert.com and Head of the Independent Taskforce on Student Finance Information is warning of a potential crisis of applications among part-time students in England.
Martin Lewis said: 'From autumn 2012, university starters who study part-time will face even more dramatic funding changes than their full-time counterparts. Yet the silence about these changes is deafening - even though part-time students make up 40% of the student population and are in the majority at many universities.'
'This is the peak application period for part-timers, yet a number of institutions have told us how concerned they are about current applications for studying part-time.'
'It is very likely that the headlines of trebling fees for full-time students have had a knock-on effect. Yet, actually, for some part-time students the changes are radical and positive. This is the first year part-time students will be eligible for official student loans for their fees rather than having to stump up the cash themselves or get commercial lending. That means many will be able to study when they haven't previously. However, off the back of that the fees themselves have been substantially increased, meaning those not eligible for funding will find it much costlier.'
'With a weak job market, furthering your education is a good alternative for many, and so I'd urge people not to be put off by fee headlines. If you are eligible for a tuition fee loan, you only need repay when you are earning above £21,000 and the loan will be wiped after 30 years - which for many older students will prove a boon due to a shorter remaining period of their working lives.'
More resources and further information can be found on the Independent Taskforce on Student Finance Information website, at studentfinance2012.com/