Student loans for postgrads: have your say

Former_MSE_Wendy · 30 March 2015 at 10:33AM

The government is looking to lend first time postgraduates in England, if aged under 30, up to £10,000 to study for a masters from 2016. Research students may be able to borrow up to £25,000.

The loan will be charged interest at RPI plus 3% and repaid at 9% of salary above £21,000, as per the current undergrad system. Tell it what you think of the system.

Has access to borrowing stopped you studying for a masters in the past, but this would be a help?
Is the max age of 30 appropriate (the gov thinks those under 30 have bigger borrowing barriers)?
What other sources of support do postgrads need?

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surfsister · 1 April 2015 at 8:32AM

completed the survey but feel strongly that it is totally unfair limiting it to under 30!! it will upset more people than it pleases

silvercar · 1 April 2015 at 9:26AM

surfsister wrote: »

completed the survey but feel strongly that it is totally unfair limiting it to under 30!! it will upset more people than it pleases

I disagree. My son finishes his first degree soon, he would like to stay on and study for masters as do some of his friends. Some will be able to do so with the help of family and others won't. They are all under 25. At least next year it will level the playing field somewhat.

surfsister · 1 April 2015 at 9:53AM

disagree what if you want to change career later in ,life and have spent money on family and not worked if a woman?? why should you be refused a loan - or if you are 31??

[Deleted User] · 1 April 2015 at 9:57AM

I went to university at 47 years old so limiting post graduate tuition money to under 30's is annoying and unfair.

Not everyone post 30 is rolling in the money it takes to go to university full time and pay for the over priced post graduate courses.

LynS · 1 April 2015 at 10:07AM

Entirely agree, Surfsister. I graduated at the age of 49 with a First and my faculty's award for outstanding overall achievement. I would dearly love to go on to postgrad study, my undergrad results strongly suggest I would do well, but I can't afford it. I have a son at University to support, as well as all the usual. I still have 10 years + work in me before retirement and I would love to be able to move on in a job that reflects my degree and interest. I was hopeful when I heard about this proposal, but very disappointed to hear about the age limit.

Philharmonker · 1 April 2015 at 12:03PM

I agree with Surfsister - it's unfair to limit these loans to the under 30s.

I'm changing career in my 30s and doing an undergrad STEM degree. The government is always banging on about how it wants more people in STEM and more women particularly in STEM.

Why should later learners be prevented from accessing government funds?

Also I believe the government should be funding higher education through grants and studentships rather than loans in order that we can compete with other countries in the knowledge economy who provide quality higher education at lower prices to the student.

gracelesskelly · 1 April 2015 at 12:33PM

I agree entirely that the age limit is too low. I have been wanting to go back to uni and do a masters (it's taken me a few years working to figure out what I want to do), but I can't afford the upfront cost, so a loan would make it viable for me, as I know I could afford it in the long term, so paying it back from my salary would be no problem. I am 28 now, so next year would be my only chance to get a loan, as I'd be too old the following year. I know I'm lucky that I may get the chance at all, but I now feel that if I'm going to go back to study, it *has* to be next year, as I probably wouldn't be able to afford to do it otherwise. I'd just better hope that I manage to get in first time, there'll be no chance to reapply...

ziggycj · 1 April 2015 at 4:55PM

I think extending the age limit over 30 is fine, but they would need to adjust the payback time. The age limit is based on the loan being written off after 30 years. If you are 60 and take out this loan, it is very unlikely you will be working for long enough to pay even half of it back.

surfsister · 3 April 2015 at 10:05PM

i thought that the student loan for the BA had to be extended to all ages over 18 due to falling foul of age discrimination laws. This would be the same surely??

rashismart2000 · 7 April 2015 at 8:01AM

surfsister wrote: »

completed the survey but feel strongly that it is totally unfair limiting it to under 30!! it will upset more people than it pleases

I will be graduted next year and will be 36 at the time of graduation. I wish to do master degree in Quantum physics but no student loan for over 30 means no master degree. Am I not paying enough tax? why age restriction for learning? This is disgusting?

Student loans for postgrads: have your say

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