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Larger student loan being considered

20 June 2011

​The loan available to Jersey students who go to university could be increased from £1,500 to £5,000 if a financial backer can be found.

The Education, Sport and Culture Minister, Deputy James Reed, has decided to seek expressions of interest from finance companies and banks that could provide the service. The aim is to ensure Jersey students have access to additional funding if they want to go to university.

“Graduates are important to our society and the economy as a source of trained and well-educated personnel. Jersey relies on graduates for a range of private and public sector roles. They are an important source of well-trained personnel for our society and the economy,” said Deputy Reed.

“Unfortunately, higher education is costly. The value of the States’ support for students has been falling in real terms because the thresholds have not been raised in recent years.

“I want to ensure that all Islanders who can benefit from a university education actually have a chance to do so and are not prevented because of lack of funding. Strengthening the student loan facility will ensure that families who find it hard to meet the costs will have extra help and can spread repayments over a number of years.”  

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