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Home ›› Access agreements ›› Guidance notes ›› Inflationary increases 2007 08

Inflationary increases 2007-08

18 September 2006

To: Principal contact for OFFA / Managers responsible for access agreements

Dear Colleague

You will probably be aware that the inflationary increase that will apply to fees, loans and grants was announced in Parliament last week. A summary is set out below for information:

• The level of support for loans, grants and fees that will be available to eligible students in the 2007-08 academic year will be 2.33 per cent higher than for 2006-07, in line with forecast price increases.

• For students who entered higher education on or after 1st September 2006, and are being charged variable fees, the maximum fee payable will increase from £3,000 to £3,070 in 2007-08. The increase to the fee will be matched by a corresponding increase to the loan for fees that students can take out.

• The level of Higher Education Maintenance Grant that is available will rise to £2,765 and the income thresholds for eligibility for the grant will rise to £17,910 and £38,330

• For students who are not being charged variable fees (primarily students who entered higher education before 1st September 2006), the maximum fee payable will increase from £1,200 to £1,225.

Full details are available in SSIN 01/07 on the DfES website

OFFA guidance

Institutions should be reminded that the minimum bursary requirement must increase to ensure that it meets the difference between the level of full Higher Education Maintenance Grant and the fee charged. For example for institutions charging the full fee of £3070 in 2007-08, the new minimum bursary requirement will be £305.

As set out in our note of 10 August we will assume that every institution intends to apply the inflationary uplift to its fee and bursary schemes. You need to inform us if this is not the case.

Our note of 10 August also stated that institutions may now need or want to update their access agreements with wording that ensures accuracy for the duration of the agreement.

There is no fixed timetable for amending agreements but for clarity, where institutions do need, or wish to make changes, we suggest that these should be made by 31 October 2006. Any amended agreements should be sent to accessagreements@offa.org.uk

Yours sincerely

Jean Arnold
Operations and Research Manager
OFFA