Durham Student Union backs bill to reintroduce targeted maintenance loans

Durham’s Student Union has backed a bill to fix student finance payments, or maintenance loans, which would see instalments adjusted so they are paid before university terms start. It was put before Parliament on Wednesday, 7th January, led by Luke Charters, MP.

We spoke to Durham’s Student Union President, Abigail Taylor, who endorsed the bill on behalf of students, joining the National Union of Students in championing its parliamentary success. She told The Durham Tab she had been in conversation with Luke Charters, MP, via email, together with many other student bodies across the country, making up more than a third of students across England and Wales.

This spans from Liverpool to Leeds, Bradford to Bournemouth, and Derby to Durham. Charters thanked the respective Student Unions for their support, stating, “I hope you felt your voices were heard”.

What does this bill mean for students?

The Student Finance (Review of Payment Schedules) Bill would end the current maintenance loan system, which pays loans in termly instalments, after term starts. For many students, especially those without financial backing, this can be overwhelming.

Instead, payments would be fixed so that they are paid before the term starts, as often students find themselves out-of-pocket before loans arrive, when accounting for rental payments, typically for second and third years, which don’t align with student finance. It would also provide the necessary flexibility to request them earlier, for example, to make rent deposits.

In addition, it would heal budgeting difficulties which often push students towards overdrafts and credit, generating avoidable stress. This cost-free monthly payment schedule would therefore ensure students are able to manage their finances more effectively amid an ever-challenging cost of living.

Features of the bill:

This bill would aim to fix student finance by creating:

• Monthly maintenance payments
• No summer gaps
  

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A post shared by Luke Charters MP (@lukechartersmp)

The outcome of the debate:

Luke Charters, one of the youngest MPs in the country, stood for students in Parliament when he put forward the bill. NUS backs the bill, seeing this as the first step towards reform to back the “ludicrous” maintenance support system. NUS stated on their Instagram, “students should be enjoying their time at university, not worrying about how they’ll make it to their next student finance payment”.

He spoke of the many flaws of the current system, often arriving in uneven chunks which cause worry. He highlighted that nearly one in three students have maxed out their overdraft, meaning financial support isn’t always guarenteed.

Durham Student Union President, Abigail Taylor, told us that Charters, MP has confirmed the bill is going well in Parliament, and his hope is that ministers will commit to a review of payments. From this, it will then be implemented as part of a bigger chunk of Higher Education legislation.

What do Durham students make of it?

One student told The Durham Tab that it is an absolute must: “As an estranged student, its term breaks where there is a real financial strain”.

Another told us that “making payments before term starts does sound less stressful, that way you can focus on studies”.

Students are in agreement that this is both a necessary and positive change, with some believing scrapping tuition fees is what it takes “to make a real difference”. For now, this is a step in the right direction.

Featured image via Instagram (left) and Canva (right)

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