Student funding updates for Scottish students
The Student Awards Agency Scotland (SAAS) has announced significant enhancements to student support for the academic year 2024-2025. Here’s what you need to know:
Increase in Support Package:
Scottish students will receive a £2,400 increase to their annual support package in the form of a ‘Special Support Loan’. For undergraduates currently receiving the minimum loan, this raises their support to £8,400 per year. Students from households earning less than £21,000 will see their loan rise to £11,400, while full-time postgraduates will receive up to £13,900. Undergraduate Care Experienced students are too eligible for this loan of £2400 in addition to the £9,000 Care Experienced Students’ Bursary, taking their maximum support up to £11,400.
Exclusions:
The Special Support Loan does not apply to Paramedic, Nursing, Midwifery, part-time, or further education students.
Payment Flexibility:
Students now have the option to receive their loan over 12 instalments instead of the previous 9, facilitating better budget control over the summer months.
Alignment with Living Wage:
The increased funding ensures that support for vulnerable students aligns with the student equivalent Living Wage.
Application Deadline:
SAAS guarantees funding for applications made before June 30th, 2024. For more information and to apply for funding, visit the SAAS website.