Research and development

University Research Funding

Today, Thursday 8 August, the Lords Science and Technology Committee report was released, which warns against a potential cut in tuition fees, claiming universities would not be able to cope financially unless the government make up the difference.

The department continue to ensure our world class universities have the necessary support to continue with important research and teaching, recognising the important contribution of universities to research, innovation and working with business.

A Department for Education spokesperson said:

As part of our ongoing review of post-18 education and funding we will be responding to Philip Augar’s recommendations in due course.

We have committed an additional £7 billion for Research and Development by 2022, through the National Productivity Investment Fund – the largest increase since records began.

Student Loans

Today, the Student Loans Company have confirmed the interest rates on student loans and repayment thresholds for next year.

For post-2012 loans, interest rates are variable and will range from 2.4% (RPI) for those earning £26,575 or less, rising to 5.4% (RPI + 3%) for those earning £47,835 or more.

For a full list of interest rates and thresholds visit the Student Loans website.

A Department for Education spokesperson said:

We want everyone with the talent and potential to be able to benefit from a university education, which is why loans are available to all students regardless of background or financial history.

Our student loans system is designed in a progressive way so that graduates contribute an affordable amount based on their income, and the Government subsidises around 47% of the cost of higher education.

The amount that new graduates will need to earn before they start contributing to their loans will increase for a third consecutive year to £26,575 from April, helping to keep more money in their pockets in the early stages of their career.