Boost for postgraduate finances from research universities
Posted on 6 December 1996
The scheme, which is offered in partnership with Midland Bank, will make low-cost borrowing available for students working towards higher degrees, many of whom are partly or fully self-financed.
The scheme will be offered by the Universitites of Bath, Durham, East Anglia, Essex, Exeter, Reading, Surrey, Sussex, Warwick and York, and Birkbeck College and the London School of Economics, University of London.
This loan scheme is a very positive move
Professor Ron Cooke
The loan scheme includes:
- loans of up to £10,000 towards living expenses and course fees;
- no repayment of capital or interest until six months after completion of study;
- repayment periods of up to seven years;
- interest at 1% or 2% over Midland Bank's base rate (depending on subject).
Details of how to apply for the loan will be sent automatically to all those applying to take higher degrees beginning in 1997 at the 12 institutions.
Each of the universities involved in this scheme is a research-led institution with postgraduates forming, on average, over 25% of the student population. Together they train over 27,000 higher degree students.
"This loan scheme is a very positive move. Research-led universities with large postgraduate populations are acutely aware of the financial strain imposed on many students working towards higher degrees," said Professor Ron Cooke, Vice-Chancellor of the University of York. "This is an important contribution, not only towards easing that strain, but also towards the nation's research and development programmes in which postgraduates play such a vital part.
Prospective students seeking information about the loan should contact Angela Horner, Midland Bank, York on 01904 884024.
ENDS
Issued by the Universities of Bath, Durham, East Anglia, Essex, Exeter, Reading, Surrey, Sussex, Warwick and York, and Birkbeck College, University of London.