Next year’s student loans delayed
The launch of the loans and grants service for students starting in September 2010 should have been at the beginning of this week. But the Student Loans Company says that this has now been postponed. A review of loan delays for students who began courses this autumn found “conspicuous failures”. The delays in payments facing tens of thousands of students, which have dragged on for months after the start of term, have now caused a knock-on effect for next year. The intended starting date of December 7 has been withdrawn – with no new date so far set to replace it.
Universities warn that budget cuts will be challenging
Earlier this year the government asked universities to find £180m in efficiency savings by 2011. Professor Steve Smith, president of umbrella body Universities UK, said: “The university sector has provided an excellent return on the last 12 years of public investment. “However, the sector is already absorbing considerable efficiency savings and the announcement that by 2012-2013, £600 million will be cut from higher education and science and research budgets will be extremely challenging for universities.”
Academy denounces £600 million funding cut
Alistair Darling, the Chancellor of the Exchequer, revealed in his pre-Budget report on 9 December that there will be a £600 million reduction in the higher education and science and research budgets in the two years 2011-13. The report says the savings will come from “a combination of changes to student support within existing arrangements; efficiency savings and prioritisation across universities, science and research; some switching of modes of study in higher education; and reductions in budgets that do not support student participation”.