Commenting on the Student Income and Expenditure Survey published (21 April 2009) by the Department for Innovation, Universities and Skills, Sir Martin Harris, Director of Fair Access, said:
“This survey shows that students are better off during their studies, compared to students in 2004/05. Government grants and loans, as well as university and college bursaries and scholarships mean that today’s students are less reliant on paid work and parental contributions and borrow less from commercial sources.”
“University and college bursaries and scholarships are an important part of the overall support package. In 2007/08 universities and colleges paid around £192m to over 205,000 first and second year students”
“While the cost of studying has risen with the increase in fees, it is important to note that the cost is deferred; fee loans are paid back only once the student has left and is earning £15,000 and there is no commercial rate of interest. Applications to HE continue to grow, indicating that potential students find the support arrangements acceptable and continue to recognise the benefits of a higher education”.