Budget 2015: PhD student loans up to £25,000 proposed

Chancellor George Osborne’s Budget has promised loans up to £25,000 for UK students studying for PhDs and research-based master’s degrees.

“Future economic success depends on future scientific success,” he said.

The government says the country needs to train more highly skilled people to stay competitive with other countries.

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Sir Peter Lampl, chairman of the Sutton Trust education charity, welcomed support for postgraduate study, which he said had “become the preserve of better off students”.

“It will be important that the impact of the loans is fully monitored, particularly the effect of cumulative undergraduate and postgraduate debt, to ensure that these loans are being taken up by those who would otherwise lose out,” he said.

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Sir Peter Lampl was also quoted in The Telegraph.