Updates on Student Finance for Academic Year 2024-25

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This webinar, organised by Go Higher West Yorkshire, featured a detailed presentation on student finance for the upcoming academic year 2024-25, led by Stephen from the Student Loans Company. The session aimed to equip educators and advisors with the latest information to assist students in navigating the complexities of student finance.

Key Learnings

Eligibility Changes:

Updates to eligibility rules include a modification for students who gain settled status after the start of their academic year. These students can now access home fee support from the term after they obtain this status, promoting fairer access to funding.

Financial Support Overview:

Tuition fees remain frozen at £9,250 for the seventh consecutive year. The webinar highlighted the breakdown of maintenance loans, including increased rates for living expenses by 2.5%, and additional allowances such as disabled student allowances and grants for dependents.
Repayment Information:

The repayment threshold remains at £27,295 until April 2027, with adjustments based on the Retail Price Index planned thereafter. Stefan emphasized the unique aspects of student loan repayments, including that repayments pause if income falls below the threshold and that the balance is forgiven after 40 years.

Additional Resources and Changes:

Introduction of a new, streamlined process for Disabled Students’ Allowances (DSAs), involving centralized service providers for assessments and equipment provision. The presentation also touched on the impact of household income on maintenance support and specific grants for students with dependents.

The webinar effectively updated participants on critical aspects of student finance for the academic year 2024-25, with a strong focus on changes that improve access to financial support and make the system fairer for all students. This information is crucial for advisors and educators as they support students in planning their higher education journeys.

Please access the materials and resources for this session within the ‘materials’ tab above.

To start this webinar please click on the course content below