 The Money Saving Expert has shared valuable advice for students starting or returning to university. Martin Lewis warned that student maintenance loans are rising far less than inflation in England, which will leave many feeling the squeeze. He's shared eight tips in his newsletter which explain the current financial situation, and will help students make the most of their money. He said: 'Millions of undergraduates across the UK are preparing to start or return to university. 'A good chunk though will see significant financial changes that won't make easy reading. 'This is especially true for English students, where the squeeze looks tightest. 'Perversely, while over the long term new starters will need to repay up to 50% more than their predecessors, right now for them the biggest practical issue may be that the loan's too small.' 1. English student maintenance loans are rising far less than inflation The typical full maintenance support – used to pay for rent and bills, transport, books, food and other essentials – increases every year, but this year the increase is well below inflation for English students. English students are now on the new 'Plan 5' student loans (Picture: Getty Images) This academic year's support has increased by 2.8% for English students, to a total of £9,978. Meanwhile, in Wales the support has increased by 9.4%, to £11,720 a year, by 11% in Scotland to £9,000 per year, and in Northern Ireland by 27% to £8,136 per year. Martin explains: 'Contrast these to inflation, the rate at which prices rise. On the lowest measure it was over 10% when the new English loans were announced and is still currently 6.8% year on year. 'So this is a real terms cut that will be a blow to many English students already close to the affordability bone – in fact the government's own assessment shows that in real terms the loan has been cut 11% to 15% compared to three years ago.'){kind=link}
NEWS… BUT NOT AS YOU KNOW IT
The Money Saving Expert has shared valuable advice for students starting or returning to university.
Martin Lewis warned that student maintenance loans are rising far less than inflation in England, which will leave many feeling the squeeze.
He’s shared eight tips in his newsletter which explain the current financial situation, and will help students make the most of their money.
He said: ‘Millions of undergraduates across the UK are preparing to start or return to university.