Confusion over new loans (Student Loans Co.)

Member Name: Cassandra

Product:	Student Loans Co.
Date:	10/07/00 (16 review reads)
Rating:

Advantages: More money available

Disadvantages: Not available to everyone

Many students these days are having to take out student loans to even stand a chance of getting through three or four years at university.
With the introduction of tuition fees the amount that a student could take out per year increased by £1000 increasing the burden of debt before they have even started their university career.
However now the government has abolished grants the amount that can be borrowed has increased once again. But, what most students do not realise is that the extra amount is actually means tested in the same way as a grant would be. This has lead to confusion amongst many freshers, many of whom end up being worse off than they had planned for.
Information on loans, scholarships and access funds needs to made more readily available when students apply for university so they will be aware of the burden of debt they could be getting into before going to university

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