Student Loans
Postgraduate Study Student Loans Consultation published 27 March 2015
The Department for Business Innovation and Skills has published a consultation on postgraduate study student loans.
The consultation document is seeking views on a proposed loan system for postgraduate taught master’s students. Under the scheme, anyone under 30 who is eligible and accepted to study will be able to apply for a loan of up to £10,000.
The evidence and responses will inform the design and final terms of the proposed loan scheme.
CIPP survey on the Consultation for Postgraduate study 28 April 2015
The government is intending to offer loans as part of an on-going effort to broaden and strengthen support for postgraduate research. The consultation raises some issues relevant to payroll so please take 5 minutes to provide your views. In the Autumn Statement 2014, the Chancellor announced proposals to provide guaranteed financial support for students on taught Master’s programmes, of up to £10,000 repayable - as with the undergraduate loan system- when, and at a rate that, graduates can afford it.
Since then the proposal has been widened to extend support to postgraduate research students, where there is a similar benefit to individuals, universities and the economy.
The government is intending to offer loans in addition to grant funding, not as a replacement, but as part of an on- going effort to broaden and strengthen support for postgraduate research.
As you might expect, the consultation document itself focusses mainly on the impact this will have on students and educational institutions, however there is a section of the document concerned with the impact this proposal will have on employers. The CIPP’s Policy Team have created a survey which addresses those issues relevant to payroll. The survey , which closes on 25 May, is very short and should only take around five minutes to complete. Thank you, in advance, for all those who can spare the time to complete this survey .
Collection of Student Loans 12 May 2015
The CIPP Policy Team are members of the Collection of student loans forum and a recent meeting revealed some employer contact analysis which showed some common issues.
Work has been taking place within the Collection of student loans (CSL) Group to understand and detect any trends and patterns in Student Finance related call volumes. Early findings show some emerging trends:
Incorrect business addresses – both email and paper, but mainly email. Employers stating notice never received – to date this is the largest single reason for non-operation of a notice. Further analysis will take place on these calls but early findings show that some employers do not check their on-line services account frequently enough, thereby missing notices. Some student loan start and stop notices have been received but they have not been acted upon until either the student loan borrower or HMRC make contact to confirm. Detail so far includes: o A failure to act on P45 part 3 given to the employer. o The Employer receiving the notice but not passing it on to the individual or agent who deals with the payroll. o The employer not knowing their HMRC user name and ID which would allow them to retrieve the notice.
CIPP Policy News Journal
25/04/2016, Page 426 of 453
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