8 AFTERMARKET APRIL 2023 BIG ISSUE www.aftermarketonline.net The automotive sector has been experiencing a skills shortage for many years now. With the academic higher education route often given higher priority and a sense that there is a higher prestige attached to those who emerge from it clutching a degree, this is unsurprising. Undertaking an apprenticeship by comparison is seen as the lesser path by parents and schools. The fact that you are paid while you are learning might be an inducement for some, particularly with the very high cost of a degree these days, with thousands of pounds worth of debt being the inevitable outcome in many cases. The recent surge in inflation has exacerbated this situation, and university students were exposed to the ravages of higher energy and fuel bills. Indeed, in February the University of Swansea announced that it had opened a foodbank for its students. In response, the government recently boosted funding for students in straightened financial circumstances. Students in need would have access to an even larger pot of money. As a result of rising costs resulting from higher inflation, in January the government increased hardship funding available for universities to help its students by £15 million for the current academic year. The Office for Students already had £261 million available for universities to access for the 2022/23 academic year, from which universities can increase their own hardship funds. At the same time, the government also increased loans by 2.8% for the 2023/24 academic year. For those who have already graduated, the government also cut interest rates for new students to RPI only so, graduates do not repay more than they originally borrowed, when adjusted for inflation. Minister for Skills, Apprenticeships and Higher Education Robert Halfon said: “We recognise students continue to face financial challenges, which is why we are increasing loans and grants for living and other costs for a further year. For the sixth year in a row, we have frozen tuition fees for a full-time undergraduate course at a maximum of £9,250 which will reduce the initial amount of debt students will take on. I’m really pleased to see that so many universities are already stepping up efforts to support their students through a variety of programmes. These schemes have already helped students up and down the country and I urge anyone who is worried about their circumstances to speak to their university. For the sixth year in a row, the government has confirmed it COST OF WORKING CRISIS? With government looking to support university students with the cost of living crisis, is on-the-job training becoming unaffordable?
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