University students in Scotland now have the opportunity to manage their financial support over a 12-month period to help cover costs during the summer months. Previously, students were only able to access loans and bursaries over a nine-month period, leaving them without support during the months leading up to the new academic year. However, the Scottish Government has announced that eligible undergraduate students will now have the option to spread their payments over a year.
Commencing with the 2024/25 academic year, students can choose between the nine or 12-month payment options when applying through the Student Awards Agency Scotland (Saas). It is important to note that the annual payment amount will remain the same. Those who opt for the 12-month plan will receive lower monthly payments to distribute the funds across the entire year.
Graeme Dey, the Higher Education Minister, emphasized the challenges students face when their payments cease during the summer months. He stated, “These changes will ensure that learners can access the vital funds they need all year round. This is another example of the actions being taken by the Scottish Government to support students through the cost-of-living crisis.” Dey also pointed out that Scotland boasts the lowest student debt levels in the UK, thanks to the commitment to free tuition and enhanced student support offering.
Dey further highlighted the increasing number of students from Scotland’s most deprived areas applying to study at university. He added that the changes made to the student support package aim to dismantle barriers and ensure that access to top-tier institutions is not restricted based on background.
The recent change comes after a successful two-year programme allowing care-experienced students to opt for 12-month financial support packages. Additionally, care-experienced students will continue to receive extra support for living costs through the summer accommodation grant starting in 2024. Those who are eligible will receive a payment of up to £1,330 to prevent falling into arrears over the summer.
These adjustments also align with the £2,400 increase to the annual support package, raising the main undergraduate funding package to £11,400. Furthermore, eligible students living with family members or friends will be entitled to a grant of £665.
The initiative is part of the Scottish Government’s ongoing efforts to support students through financial hardships and ensure equal access to higher education. These measures aim to alleviate financial pressures on students and make pursuing a university education more accessible for individuals from all backgrounds.
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