Study Abroad: Wales to boost financial aid for students by 9.4%

The Welsh government is raising student maintenance aid by 9.4%, which is more than three times faster than the increase in England. For the academic year 2023–24, a typical full-time student from Wales could get maintenance grants and loans totaling £11,720, an increase over the current year’s £10,710. This is consistent with inflation forecasts going back to November 2020, which have turned out to be notable underestimations, leaving students with a £1,500 deficit.

Welsh maintenance loans, however, are being raised in accordance with the national living wage. Living expenses shouldn’t ever be a hindrance to pursuing a higher education. With more support, it will be possible for study abroad students from all backgrounds to enroll in higher education, exclaimed the government.

Maintenance support is given under Wales’ higher education finance system through a combination of grants and loans, with the precise combination being determined by students’ family income.

According to a spokeswoman for Universities Wales, the cost-of-living crisis is “having an impact across the higher education sector,” particularly hard-hit being students from lower socioeconomic backgrounds who have caring duties and are estranged from their family.

Increased student maintenance aid for Welsh students has been announced, which will assist ease some of the strains on their finances that students with Welsh addresses are currently experiencing.

Around 50% of students in Wales come from outside and do not receive the same level of support. Universities will keep taking aggressive steps to assist study abroad students who are experiencing financial trouble.

Notably, many undergraduate programmes would no longer be financially feasible following a £5 million decrease to the overall higher education budget if it weren’t for the higher tuition fees paid by study abroad students.

The most innovative student financing programme in the UK is still offered by the Welsh government. Welsh undergraduate students typically owe less than their English counterparts since they have access to our generous grant and loan programme for living expenses.

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