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It was originally announced at Budget 2016 that the intention was for Doctoral postgraduate loans to be repaid at 9% above the repayment threshold with a combined 9% repayment rate applying where a borrower is repaying both Masters and Doctoral postgraduate loans; however, this was later revised to one combined postgraduate repayment of 6%. [31]
However, the Welsh Government changed this system after the Diamond Review was published. Today students have access to a means tested loan system where students from the poorest households can be eligible for a grant of up to £10,124 if studying in London or up to £8,100 if studying in the rest of the UK. [67]
The Student Loans Company (SLC) is an executive non-departmental public body company in the United Kingdom that provides student loans. It is owned by the UK Government's Department for Education (85%), the Scottish Government (5%), the Welsh Government (5%) and the Northern Ireland Executive (5%). [2] The SLC is funded entirely by the UK taxpayer.
The regulator was established by the Higher Education and Research Act 2017, coming into existence on 1 January 2018. [2] It merged the Higher Education Funding Council for England and the Office for Fair Access, and formally inherited their responsibilities, while 'working in the interests of students and prospective students' [3] and having 'a wider remit ... taking charge of the granting of ...
The loan, which would not depend on household income, would be paid directly to the university or college from the student loans company. [ 37 ] The act also established the Office for Fair Access (OFFA) in an effort to ensure that the "introduction of higher tuition fees in 2007-08 did not deter people from entering higher education for ...
Masters students may also have the option of a Postgraduate loan introduced by the UK Government in 2016. For overseas students, most major funding applications are due as early as twelve months or more before the intended graduate course will begin. This funding is also often highly competitive.
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The Education Note has a focus on students from emerging markets, enabling them to study at top postgraduate programmes. In 2015, Prodigy Finance announced a $12.5 million equity investment from Balderton Capital and various angel investors, and $110 million in loan capital from Credit Suisse, Deutsche Bank and other private investors. [9]