To ask the Secretary of State for Education, whether it is his policy to increase the size of student loans in line with the rate of inflation.
4 July 2022
The department is currently reviewing options for uprating maximum grants and loans for the 2023/24 academic year.
Maximum grants and loans for living costs were increased by 3.1% this academic year, and the department has announced that they will increase by a further 2.3% in the 2022/23 academic year.
In addition, we are freezing maximum tuition fees for the 2022/23, 2023/24 and 2024/25 academic years. By the 2024/25 academic year, maximum fees will have been frozen for seven years.
The 2022/23 financial year guidance to the Office for Students (OfS) confirms universities will continue to be able to support students in hardship through the student premium. Ministers’ Strategic Priorities Grant guidance letter to the OfS asks that the OfS looks to protect the student premium in cash terms for the 2022/23 financial year.