Undergraduate Funding In Line with Living Wage
Scottish students will benefit from a £2,400 increase to their annual support package from the start of the 2024-25 academic year.
The new special support loan will mean that, per year, the main undergraduate funding package will rise to £11,400 and post-graduate to £13,900.
The uplift means funding support for the most vulnerable students is now in line with the student equivalent Living Wage.
The special support loan will be implemented from 2024-25 Academic Year and be for the purpose of travel, general study and childcare costs – costs disregarded by the Department for Work and Pensions (DWP) when assessing benefit entitlements.
This ensures that students in higher education who remain entitled to welfare benefits whilst they study can access this additional support without any further reduction in their benefit entitlement.
Students will continue to apply for their loan support in the same way and will continue to receive just one loan payment. However, the Special Support element will be highlighted on their Student Awards Agency Scotland (SAAS) award notice – which is what DWP use to calculate benefit entitlement.
Economists use the UK Hourly Real Living Wage Rate of £12 to calculate a student equivalent Living Wage.
The special support loan of £2,400 was a Programme for Government (PfG) commitment.