19 June 2013

Plans To Increase Student Loan Repayments, Student Complaints Rise, Plus More News!

Plans To Increase Loan Interest Repayments

Government To Scrap Plan For Loan Repayment PenaltyAccording to a secret report by the government, there are plans to increase interest rates on student loans taken out over the past 15 years. If this proposal gets the go ahead it would me that over 3 million people will have more expensive loans to pay back. The report was obtained through a freedom of information request, and is understood to still be under active review.

Our Take: Surprise surprise we thought that this might happen at some point! At the moment interest rates for graduates are capped and are related to the rate of inflation. Removing this cap would burden many graduates with more expensive loan repayments. Could this be a sign that the Government is more interested in making money than in protecting the interests of students and graduates, we think so.

Student Complaints Rise Since Increase in Fees

Confused?According to the watchdog for higher education the number of formal complaints made by students has increased since the rise of tuition fees to £9000 per year. The Office of the Independent Adjudicator which deals with student complaints has revealed that the number rose by 20% between 2011 and 2012.

Our Take: This really is the gift that keeps on giving for our weekly news, students are demanding a higher quality of education now that they’re paying three times as much for it and who can blame them? When you’re being asked to pay high fees, why shouldn’t you demand the best, and if you feel like you’re not getting that, it’s your right to complain.

Work Experience Vital To Landing Graduate Jobs

Unpaid InternshipA study has found that internships are the key factor in securing a post university job. Graduates with work experience are three times more likely to find a job than those without it. The research was undertaken by High Fliers, and also found that marketing is the most popular job market for graduates, with London being the ideal location.

Our Take: Internships are vital to the modern day job seeker, and they should be paid. But this isn’t always the case, either way if you can afford to do an unpaid internship then it’s better than doing nothing. Keep your eyes open for our new site Save the Graduate where you’ll find loads of resources to help you find your dream job.

Universities Must Take on More State School Students

Unusual University DegreesA government backed report has called for the best universities to take on more students from state schools in poorer areas, possibly with lower A level grades, in a bid to increase social mobility. In 2011/12, 126 fewer students attended a Russell group university than in 2002/3. The report aims to combat this gap and make student bodies more varied.

Our Take: This seems like a fairly decent idea, although we maintain that you should get your university place on merit, not on where you went to school. This cuts both ways however, and maybe it is time that an advantage was placed in the court of the majority, not a super rich minority.

Sony Beat Microsoft at E3

ps4At the annual E3 conference last week there was a clear winner in the early stages of the next generation console wars. Microsoft’s Xbox One was announced to be £100 more expensive than the PS4 and with a large number of restrictions being placed on the console, it’s looking like Sony have won this generation already.

Our Take: Not strictly student money news, but it’s near enough the summer holidays so you can finally rack up the hours on whatever console you choose. Although we’d probably go for the one that isn’t always online (which could be a problem in halls of residence), has a microphone constantly listening to you (creepy) and restricting your gaming if you don’t check in every 24 hours (needy)… Something to think about for when your student loan comes in October. You can pre-order the PS4 here.

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