With England’s yearly University fees at £9,000, many students are turning down the chance to go to university because they don’t want to be saddled with years of debt. If this worry has prevented undergraduates from progressing from school to university then the idea of doing a Master’s Degree would naturally be completely ruled out of the question. Surely it’s better to start earning than continue racking up a student debt? Without any monetary incentives to continue studying, many may be missing out on the opportunity to do something vital to give their career the boost they need. But now the government plan to offer £10,000 worth of loans to postgraduates to help fund this increasingly important degree.
Although this news is great, the catch is that it only applies to students under the age of thirty. Is it right that we should assume anyone over thirty makes enough money to fund more time at university? With both full and part time Masters and upwards classes available, full time commitment to a second degree will eat into time that could be spent working. This is just another faux pas made by the people in charge; the first one being how the student loan/grant system works. Assuming that students can live off the Bank of Mum and Dad – so long as they have a moderately high income – has raised enough of an uproar already without the yearly fees demanded by universities on top of that. Should wanting to succeed in life and having a thirst for education really burn such big holes in our pockets?
The government have actually claimed that they “underestimated the amount of people who would opt for a loan” and are now pretty much regretting their decision before it has even taken action. This new loan system is rumoured to bring up a total of £1.5 billion in the first four years of action which will be introduced in 2016-17.
It’s possibly the best solution the government has come up with to deal with the problem of the rich getting a better education, giving working-class people a chance to take the next step in their career dreams is essential to providing equality. Without having to worry about funding their education, so many more postgraduates will seize the chance to make another leap at something they really want to do in life. But with the government’s typical indecisiveness and last minute rule changing, it’s uncertain whether this idea will actually stick around for the long run.