New measures have been enshrined in law that will transform the student finance system, allowing colleges and universities to charge different fees for different courses for the first time and opening up opportunities for adults to study in a way that works for them.
The Lifelong Learning Entitlement (LLE) (formerly the Lifelong Loan Entitlement) will give all adults from 2025 access to loans, worth up to £37,000 in today’s fees, that they can use flexibly over their working lives to upskill or retrain.
The LLE will mean people will be able to take out a student loan to pay for full-time courses such as university degrees or Higher Technical Qualifications (HTQs), as well as for some individual modules of courses.
See: Transformative student finance bill becomes law - GOV.UK (www.gov.uk)
The latest Budget was packed with policy announcements, but according to the Office for Budget Responsibility (OBR), these policies will not really change the UK’s growth outlook over the next five years.
With the festive season underway and household budgets feeling the pressure, it may be useful to know that if you are worried about paying your tax bill in one lump sum, you may be able to spread the cost.