Denham launches drive to ensure all 16/17 year olds are aware of student finance options
18 September 2007
Today the Secretary of State for Innovation, Universities and Skills, John Denham kicked off a campaign to ensure that every 16 and 17 year old in the country is aware of financial support packages on offer to students who might otherwise not have the opportunity to access further and higher education.
Visiting Westminster Kingsway College, the first in a series of visits to colleges and universities across the country, the Secretary of State will meet students to find out first hand about their concerns, their aspirations for the future and what more needs to be done to overcome barriers to access. Mr Denham will also discuss with staff the importance of pointing students towards the financial help on offer from Government and look at how they are using on-line technology to raise awareness. He has also written to all further education Principals to make sure they are aware of the information available on the Government's website at www.direct.gov.uk/studentfinance.
Mr Denham said:
Britain will only fulfil its economic and social potential if our education system offers opportunity to all who have the potential to benefit or contribute.
Schools, colleges and universities must all play their part to ensure that existing and prospective students are fully aware of the range of support packages the Government has put in place to enable them to progress through further and into higher education. In particular, they must ensure that comprehensive support and information is readily available online, enabling students to plan ahead and manage their finances with confidence.
The Education Maintenance Allowance pays up to £30 per week directly to students in Further Education or training. It is available to people aged 16-19 who are starting a full-time further education course at a college or school, joining an LSC funded Entry to Employment programme or starting a Programme Led Apprenticeship.
In July 2007, Mr Denham announced that all those 16 years olds who qualify for an Education Maintenance Allowance will be given a firm guarantee of the amount of financial support they will receive if they choose to go on to participate in higher education. This will ensure potential university students know at an early stage what financial support they can expect, and dispel misconceived fears on the cost of studying at college or university.
The Government will also offer graduates increased choice over how they repay their student loans. Graduates will have the option of taking 'repayment holidays' at a time of their choosing, for up to 5 years in total.
From September 2008, around one third of eligible students are expected to be entitled to a full Maintenance Grant of up to around £2,835. Around a further third are expected to qualify for part of the Maintenance Grant.
Students due to start repaying Student Loans after 1 April 2012 will be offered the choice of putting repayments on hold for up to a total of five years.
Photocall / interview opportunity:
Mr Denham will be available for a photocall at 11.00am, Westminster Kingsway College, Vincent Square, London SW1P 2PD.
