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<p>We are freezing maximum tuition fees for the 2022/23, 2023/24 and 2024/25 academic
years. By the 2024/25 academic year, maximum fees will have been frozen for seven
years, meaning reduced debt for students in real terms.</p><p>Maximum grants and loans
for living costs were increased by 3.1% this academic year, and we have announced
that they will increase by a further 2.3% next year. We are also reforming student
loans so new borrowers starting from the 2023/24 academic year onwards will not, under
the new terms, be required to repay more than they have borrowed when adjusted for
inflation.</p><p>The department has secured up to £75 million to deliver a National
Scholarship Scheme which will support high achieving disadvantaged students to reach
their full potential whilst studying in higher education. This scholarship aims to
address the ongoing financial barriers that can restrict high achieving, disadvantaged
students from achieving their full academic potential whilst studying in higher education
and is in addition to the significant sector interventions already in place.</p><p>From
2025, we will revolutionise post-18 education by rolling out the Lifelong Loan Entitlement
(LLE). The LLE will help fund both modules and full years of study, in colleges or
universities, at a higher technical and degree level. People will be able to upskill
and reskill throughout their lives, at the pace that is right for them. Our consultation
on the LLE concluded on the 6 May.</p><p>In our guidance to the Office for Students
(OfS) on funding for the 2021/22 financial year we made clear that the OfS should
protect the £256 million allocation for the student premiums to support disadvantaged
students and those that need additional help. The 2022/23 financial year guidance
to the OfS confirms universities will continue to be able to support students in hardship
through the student premium. Ministers’ Strategic Priorities Grant guidance letter
to the OfS asks that the OfS looks to protect the student premium in cash terms for
2022/23.</p><p>Alongside this, the government is also making available discretionary
funding of £144 million to support vulnerable people and individuals on low incomes,
including students, to support those ineligible for council tax. The government recognises
many households will need support to deal with rising energy costs, and has therefore
announced a package of support to help households with rising energy bills, worth
£9.1 billion in the 2022/23 financial year. This includes a £200 discount on energy
bills this autumn for domestic electricity customers in Great Britain, which will
be paid back automatically over the next five years.</p>
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