UNIVERSITY chiefs have echoed calls from Worcester Students’ Union for an increase in maintenance loans for students as the cost of living continues to rise.
The pleas for help came after the Government confirmed maintenance loans and grants for undergraduate and postgraduate students would rise by just 2.8 per cent for the 2023/24 academic year. This is well below the current 10.7 per cent rate of inflation.
The Government has also confirmed tuition fees will stay frozen at £9,250 for the next two years and that there will be no restoration of government grants, which were largely abolished in 2012.
With fees frozen since 2017 and rising inflation, universities now receive £4,400 less per student every year which is causing real financial difficulties for many institutions.
From September 2020 students studying on undergraduate Nursing, Midwifery, Physiotherapy, Occupational Therapy and Paramedic Science courses have been eligible for a non-repayable and non-means-tested payment of at least £5,000 a year, in addition to existing mainstream student support.
Some undergraduate and postgraduate courses leading to Qualified Teacher Status are also eligible for bursaries.
Gemma Allcott and Meg Lee, vice presidents of Worcester Students’ Union, said: “Worcester Students’ Union are disappointed to see the maintenance loan is only going to increase by 2.8 per cent for the 2023/34 year, whilst the current rate of inflation is 10.7 per cent.
“Alongside rising energy bills, rent and transport costs, this increase is not going to be enough to make a meaningful different to our students.
“We acknowledge the Government is increasing hardship funding available to universities by £15 million. However, this does not go far enough to address the financial issues we see our students facing.
“At Worcester Students’ Union, we regularly see students impacted by the cost-of-living and call on the Government to take meaningful action to support our students, who will go on to be valuable working members of our society.”
Professor David Green CBE DL, Vice Chancellor and Chief Executive at the University, said: “We are seeing increasing applications to our generous Access to Learning Fund and have provided many students with help via this route.
“We are pleased the Government has committed a further £15million to support hardship funds. However, the reality is this only amounts to around £6 per student.
“We employ around 700 students each year in roles across the University, while also providing access to additional qualifications in such areas as coaching and tutoring, which enable students to find employment opportunities relevant to their studies whilst earning their degree.
“But we know that things are difficult for many students, and it is therefore very disappointing the maintenance loan will only rise by 2.8 per cent,
“Students should be able to borrow more at this time of need,” he added.
