Government cut loans below level of inflation

This year’s UCL freshers will be 27 pints better off than those starting in 2014/15 after the government announced that student loans and grants are set to rise by just 1% during the 2014-15 academic year.

That’s LESS than the rate of inflation.

The move comes amid soaring living costs for students, with the price of accommodation, tuition and alcohol all on the rise. 

The UK’s inflation rate is 2.7%, meaning that the maximum student loan for the average student in London in 2014/15 will be £7,751 – just £76 more than this year’s intake will get.

In total, students will be £93.50 shortchanged. With the average pint in London costing £3.50, this equates to:

• 27 pints

• 623 packets of Tesco Everyday Value Chicken Flavour Instant Noodles

• One of K.Middy’s LK Bennett nude shoes.

Hannah Bassett, a 2nd year Human Genetics student, told The Tab:

“I’m really not worried about living costs for other students. Mama and Papa give me plenty of dosh to keep me in Chanel and Tesco’s Finest plum tomatoes. Why is everyone so annoyed about it anyway? It’s not as if the lower class should even be at university. Plus I’m graduating next year so it’s really not my problem.”

Many students are already struggling financially, with Sainsbury’s basics baked beans a stretch for many and parma ham considered a luxury.

Liam Burns, president of the National Union of Students (NUS) said the below-inflation rise amounted to a “real-term cut in support” and called for fundamental changes to the way student finance was administered.

“The gap between the cost of living and the amount of support available to students continues to widen and not increasing support at least by inflation is not acceptable.

“If the government truly values education they must make sure that students receive adequate levels of financial support”, said Mr Burns.

Oh well. It’s not as if the government have already squeezed UK students like their own personal toothpaste. Wait a second…