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| Version 0 | Version 1 |
|---|---|
| Overspend sees student grants cut | Overspend sees student grants cut |
| (10 minutes later) | |
| Financial support for students is to be cut after the Department for Innovation, Universities and Skills discovered it had overspent by £200m. | |
| This year, the department expanded financial support, miscalculating that two thirds of students in England would get full (£2,835) or partial grants. | |
| But Universities Secretary John Denham said too many students were eligible. | |
| The U-turn means the upper limit to receive grants will now be reduced from a family income of £60,000 to £50,020. | The U-turn means the upper limit to receive grants will now be reduced from a family income of £60,000 to £50,020. |
| The department had expected a third of students to qualify for the full grant - in fact 40% qualified. | |
| Thousands of better-off students planning to go to university next year will now not receive partial grants - money they would have received had they started university this autumn. | Thousands of better-off students planning to go to university next year will now not receive partial grants - money they would have received had they started university this autumn. |
| The department said it could not yet say how many students would be affected. | The department said it could not yet say how many students would be affected. |
| Mr Denham said the move would help recover £100m of the overspend, while the remaining £100m will be recovered from departmental savings. | |
| He said the new student support arrangements would only apply to new students starting in higher education in the next academic year. | He said the new student support arrangements would only apply to new students starting in higher education in the next academic year. |
| Mr Denham stressed that students from poorer backgrounds would still get their full grants. | Mr Denham stressed that students from poorer backgrounds would still get their full grants. |
| Existing students would receive the same support as they were entitled when they started at university, he added. | Existing students would receive the same support as they were entitled when they started at university, he added. |