Tuition fee repayment earnings threshold to rise to £25000

Oct 03, 2017, 02:02
Tuition fee repayment earnings threshold to rise to £25000

University tuition fees are set to freeze and the repayment earnings threshold is set to rise to GBP25,000 (US$33,400) as part of a new Conservative scheme created to placate students angry at the hike in tuition fees seen under the Tory government.

Graduates will be able to earn £25,000 a year before they are required to make any payments against their student loan from the 2018/19 academic year, with annual fees being frozen at £9,250.

Low-earning graduates will benefit from a delay in their student loan repayments under a Conservative scheme created to defuse the political damage over tuition fees and attempt to woo younger voters.

The changes were quickly derided by Labour as inadequate compared with its own pledge to scrap tuition fees entirely.

In response to the news, Angela Rayner MP, Labour's Shadow Education Secretary, said the proposals showed "just how out of touch [Theresa May] is".

The promise comes as the Conservative Party conference gets underway in Manchester and as it attempts to take on the growing popularity of Labour leader Jeremy Corbyn with younger voters.

Tuition fees were set to rise from £9,250 to £9,500 next year due to inflation, but May's decision to freeze them recognises the political difficulty such an increase would provoke.

Finance expert Martin Lewis said the effort on fees would have "little impact" in financial terms on "anyone but the highest earning graduates", however.

And the amount when graduates start repaying the loans will be pushed up to £25,000, from the current £21,000. This change will apply to all students with a post-2012 loan in England.

Andrew Adonis, the Labour peer who campaigned over the summer for drastic revisions to university funding, also dismissed the government's move to freeze fees.

"We are going to act to offer a fairer deal for students and young people".

At present, students must pay 9% of their salary above the threshold.

YOU MIGHT ALSO LIKE
  • 2 women plead not guilty in N. Korean scion's assassination

    2 women plead not guilty in N. Korean scion's assassination

    The run-up to the trial has been marked by fierce criticism from the women's lawyers who say they are figures of convenience. Defence lawyers are convinced the real culprits have left Malaysia and that the women's innocence will be proven in court.
    Maria downgraded to tropical storm

    Maria downgraded to tropical storm

    Gibbs said officials think there are about 700 visitors on the island, which has a year-round population of about 1,000 residents. Wave heights along the shore will increase during the next few days, creating risky surf and increased chances of rip currents.
    Jets squeak by with OT win over Jaguars

    Jets squeak by with OT win over Jaguars

    The play was reviewed, though replays provided an inconclusive look at whether Campbell's helmet made contact with Powell's shin. But New York blew a 10-point, fourth-quarter lead because of some big mistakes - and then had to hold on in the extra period.
  • Ryan Gosling is once more bad  at keeping a straight face

    Ryan Gosling is once more bad at keeping a straight face

    It's finally here - the follow-up season of Saturday Night Live to the knock-out, incredible Emmy-award-winning last season. Reprising their roles as alien abductees, Gosling , Cecily Strong , and Kate McKinnon star in " Another Close Encounter ".
    Vikings will be without swing tackle Rashod Hill vs. Lions

    Vikings will be without swing tackle Rashod Hill vs. Lions

    Minnesota coach Mike Zimmer told reporters that Cook will undergo an MRI and the team is concerned about the young runner's ACL. The Vikings play at Chicago on October 9, their second Monday night game in the first five weeks.
    Oklahoma State Outguns Texas Tech in High-Scoring Game

    Oklahoma State Outguns Texas Tech in High-Scoring Game

    The bout between Texas Tech and Oklahoma State will be a sellout, according to the official Texas Tech football Twitter account. In fact, they reached the red zone on every possession in the first half but couldn't find much separation on the scoreboard.
  • Rex Tillerson meets China leaders to pile pressure on North Korea

    Rex Tillerson meets China leaders to pile pressure on North Korea

    Trump is set to visit China in November as part of an Asia trip to encourage the region to close ranks against North Korea's weapons programmes.
    Last-minute guide to betting on the NRL Grand Final

    Last-minute guide to betting on the NRL Grand Final

    If you are going to overcome this mob, you'll have to do it the hard way, because North Queensland don't do freebies. Then a third came just before halftime after Cowboy Antonio Winterstein fumbled a grubber.
    Donald Trump Once Again Demands Players Stand Prior To Sunday's Games (TWEET)

    Donald Trump Once Again Demands Players Stand Prior To Sunday's Games (TWEET)

    Trump has said his comments have nothing to do with race but are about respecting the country and the flag. National Football League spokesman Joe Lockhart called the president's statements "inaccurate".
  • The Rams beat the Cowboys. Jeff Fisher's ghost is exorcised

    The Rams ripped off 19 consecutive points and squeezed out the remaining minutes to win a game where they entered as underdogs. Even though they lost the game, the 49ers have plenty of positives to build on going into the game against the Cardinals.
    OJ Simpson freed from prison in Northern Nevada

    OJ Simpson freed from prison in Northern Nevada

    Simpson was granted parole on five counts in a 2013 hearing by the same Nevada parole board that he faced on Thursday. Scotto said in brief text messages early Sunday to The Associated Press that he was there but couldn't talk.
    WSU set to take on No. 5 USC in Pullman rivalry game

    WSU set to take on No. 5 USC in Pullman rivalry game

    He came up big on a 12-play, 75-yard scoring drive that put the Cougars on top 27-20 with 10:14 left in the fourth quarter. As for the defeated Trojans, they've got a tough two-game stretch coming up after hosting the Beavers next weekend.
popular