The increase, announced on Wednesday, was greeted with dismay by those in the sector who described it variously as “disappointing”, “woefully inadequate” and a “devastating blow” to struggling students.
The Russell Group of universities warned earlier this week that students would lose out on as much as £1,500 a year if maintenance loans – which students take out to pay for living costs – failed to keep up with inflation. With a 2.8% increase, a full-time student living away from home outside London will receive £9,978 in 2023-24 – £1,523 less than the £11,501 they would get if loans increased in line with inflation, it estimated.
Dr Tim Bradshaw, the chief executive of the Russell Group, said: “It is disappointing that the Department for Education has failed to deliver a meaningful increase to maintenance loans or take the opportunity to address some of the flaws in the forecasting process to ensure they keep up with rising costs.”
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