Martin Lewis appointed to student finance taskforce

Fri, 17 Jun 2011

The founder of MoneySavingExpert.com has been appointed as one of the heads of a new taskforce set up to educate young people about the potential changes to students' finances as a result of the increased tuition fees.

Martin Lewis will be joined by former National Union of Students president Wes Streeting, who is now chief executive of the Helena Kennedy Foundation.

The men are worried that the media furore around the increased tuition prices could convince young people from poorer back grounds that they can no longer afford to go to university .

However, Mr Lewis pointed out that while fees will go up as of September 2012, the impact on student finance will not be as bad as many fear.

The actual monthly outgoings will remain largely the same, with the only noticeable difference being that graduates go on repaying their student finance debt longer and ultimately pay more over the long term than their predecessors.

"If potential students are deterred by higher fees, the government will need to rethink its policy," Mr Streeting said.

"But the tragedy of students, particularly from poorer backgrounds, being deterred because of myths and misconceptions is one that can be easily avoided if we all play our part." Meanwhile, a new and exclusive university college is to open in London, charging £18,000 per year.
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