tuition fees

We’re going political with this week’s blog post and discussing Prime Minister Theresa May’s pledge at the Conservative party conference.

Let’s get into it!

tuition-fees-theresa

Tuition Fees: what’s changed?

Well, Theresa May has pledged to save individual students up to £15,700 over the course of their working lives by raising the threshold for university tuition fee repayments.

Currently, the repayment threshold stands at £21,000. This means that university students need to start repaying their tuition fee loans once they reach a salary of £21K.

It’s now been proposed that this threshold will rise to £25,000 per year instead for students, as of next year. We don’t have all the details yet but it is believed that this new threshold increase will only apply to university students who attended from 2012 onwards.

tuition-fees-more

May has also announced the cancellation of plans to increase university tuition fees from £9,250 to over £9,500.

Fees will be ‘frozen’ to remain at the current amount.

So what does this mean for students?

Typically, this will mean that graduates will pay back, on average, £15,700 less over the 30 years before unpaid loans are written off.

It has been estimated that 83% of graduates will not need to pay back all of their debts.

tuition-fees-graduate

Can the government afford these changes?

This is certainly up for debate…

The IFS (Institute for Fiscal Studies) warns that long-term government costs will increase by over 40% as a result of the changes to student finance.

Overall, it is thought that the changes will cost the government an extra £1.2 billion between 2018-19 and that this will increase year on year.

The question many are now asking is, how much will this cost taxpayers?

More changes could be on the way over the next few months, as the government plans to look at the entire student finance system.

tuition-fees-calculator

We’d love to hear your thoughts on the latest changes! Drop us a tweet or leave a comment below.

The Oodles Team.

5 replies
  1. Jonathan
    Jonathan says:

    Hello Admin,
    It is very nice that your blog is providing information regarding the program that is really helpful for the community and students. I want to aware you towards the “Masters in Marketing”. If you are enrolled or going to enroll in the marketing major program, then this list might be helpful for you. Here you can find scholarships, jobs and free online courses for your study.
    You can check the given link for the more information: https://www.developingcareer.com/masters-in-marketing/
    You can also check our homepage for other latest updates. The link is: http://www.developingcareer.com/

  2. furtdsolinopv
    furtdsolinopv says:

    Throughout this great scheme of things you’ll secure a B+ with regard to effort. Exactly where you actually lost me personally was first in your particulars. As they say, the devil is in the details… And that couldn’t be much more true here. Having said that, let me say to you just what did deliver the results. Your authoring is certainly extremely persuasive which is most likely the reason why I am making the effort in order to opine. I do not make it a regular habit of doing that. Second, whilst I can notice the jumps in reasoning you come up with, I am not sure of just how you seem to connect the details which make the actual final result. For now I shall subscribe to your position but trust in the future you actually connect your facts much better.

Comments are closed.