By Sophie Gregory
Theresa May is set to announce that tuition fees will be frozen at £9,250 a year, in a significant review of student funding.
The Prime Minister told The Sun on Sunday the move will be accompanied by a £4,000 increase in the repayment threshold to £25,000, which could save some graduates £360 a year.
The planned £250 increase in tuition fees for 2018-19 will not go ahead, she suggested, and fees will instead remain at the current maximum of £9,250 per annum. The renovation of the higher education sector may also see the introduction of fast-track, two year degree courses, which aim to limit the costs young people incur when pursuing higher education.
BBC News report the Government are further considering cutting interest rates on loans and introducing lower tuition fees for those subjects where there is a skills shortage, such as engineering. The announcement comes in conjunction with reports that Theresa May is also planning to make it easier for young people to buy property by investing a further £10 billion in the ‘Help to Buy’ scheme.
Speaking to The Sun on Sunday ahead of the Conservative Party conference in Manchester, the Prime Minister said: “Too many young people fear they are going to be worse off than their parents.
“We have listened to those concerns and we are going to act to offer a fairer deal for students and young people.”
The new plans will, however, disappoint some student observers of higher education legislation, as only a few weeks ago it was mooted by figures inside Philip Hammond’s Treasury that annual fees could be slashed to £7,500.
Photograph: Arno Mikkor via Creative Commons