|Some would say the Barnett Formula settlement for Wales must be too generous if they can afford this!|
In September 2016 a radical overhaul of student finance in Wales was published after an independent review led by Professor Sir Ian Diamond and a panel of experts. The Education Secretary Kirsty Williams has published the Welsh Government’s response, setting out how it will secure the stability & sustainability of higher education and student finance arrangements in Wales.
The Welsh Government will implement, with only minor modification, the Diamond package. This means the average Welsh student could receive £7,000 a year in grant support while they study, with a pro-rata version available to part-time students. The maximum level of support available is expected to be more than £9,000 a year for those studying full–time if implemented in 2018/19.The Diamond review modelled a range of household income thresholds for those eligible for means-tested support. WAG has decided to set the upper threshold at £59,200. This is an increase of around £8,000 on current arrangements. This would mean 70% of Welsh students will be eligible for some form of means-tested grant support, in addition to a universal £1,000, with around 35% eligible for the maximum grant.