Student maintenance loans to rise by 40% in Northern Ireland

Northern Ireland’s economy minister has announced a 40% increase in student maintenance loans from 2023. The increase will provide students with approximately £55 million (US$62 million) extra to help with living costs, reports BBC News.

Loans vary according to circumstances, but the rise means support available for students living away from home will rise from £4,840 to £6,776.

Gordon Lyons said his department would also undertake a full review of the higher education funding system. This will include the support provided to students such as maintenance loans and grants and the support provided to the sector including teaching grants and fees. Lyons said he was “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”.
Full report on the BBC site