Conor Murphy: Minister announces rise in maintenance loans for students across Northern Ireland
That will mean the amount borrowed towards living costs will be uplifted by more than £1,000
Last updated 31st Jan 2025
Students across Northern Ireland are to get a 20% uplift in maintenance loans which is estimated to provide an extra £50m overall a year to help with living costs.
So, the amount a student can borrow will effectively rise by more than £1,000.
Stormont's Economy Minister made the announcement today (Friday).
The rise will kick in from the 2025-26 academic year.
So this will mean the maximum maintenance loan support to full time undergraduate NI-domiciled students will increase:
• for students living at home from £5,250 to £6,300
• for students living away from home from £6,776 to £8,132
• for students living in London from £9,492 to £11,391Fo
The Minister said: “I am acutely aware of the difficulties that continue to be faced in the current cost-of-living crisis by people right across society, and not least by students.
“I am therefore pleased to confirm a 20% increase in the maximum student maintenance loan available to full-time undergraduate students from academic year 2025/26. This will provide in the region of £50million of additional support to approximately 35,600 local students studying in these islands.”
The additional support includes increases to the limits for those who live at home, away from home, and those living in London. Students from the lowest income households will see their combined maintenance loan and grant funding rise from £6,610 to £7,925 if living at home, from £8,136 to £9,757 if living away from home and from £10,852 to £13,016 if living in London.
Eligible students can also continue to avail of income-assessed maintenance grant support of up to £3,475, and other targeted support provided by the Department, such as Disabled Students Allowance.
In conclusion, the Minister said: “Higher education is a cornerstone of our economy and key to delivering my economic priorities of good jobs, regional balance, raising productivity and net zero carbon emissions. This increase will help ensure as many students as possible can access higher education and can successfully complete their courses, providing benefits for society and the wider economy.”
The changes will be enacted following the laying of supporting regulations.