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Universities pay the price for funding cuts

Universities will be using their own funds to replace state scholarship money that was scrapped last year, covering a shortfall caused by the loss of funding.

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University College London will be putting forward £600,000 to make 315 awards next year. The University of Warwick is covering two-thirds of the amount it is losing with £500,000.

The University of Warwick has contributed £350,000, which will cover only half the cuts. University of Warwick students will be able to claim £2,000 in accommodation fees.

In order to include the cuts, universities have been told to resubmit their 2014-15 plans for wider higher education access by 15 December.

A survey carried out by Media FHE revealed that many universities could not fully compensate for the lost scholarship funding. However they also stated that a number of universities will double available cash amounts to £2,000.

The National Union of Students have labelled scholarship fee waivers a “con trick”, as they believe that the average student will never earn enough to pay back the third part of their loan.

The Higher Education Funding Council for England has stated that it we be expecting institutions to maintain the full amount of access funding. They have also welcomed decisions on spending increases made by universities.

14/01/2014

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