1. What would you like the Union to work on?
UCL offers the undergraduate bursary to help financially support domestic students from lower-income households, providing them with money in addition to maintenance loans and any other external financial support they may receive. This bursary scheme is automatic, with domestic students automatically being assessed and approved for the bursary. The undergraduate bursary features household income thresholds at which different amounts of money are given, making it means-tested. Specifically, these thresholds are:
Less than or equal to £16,000 = £3,000
More than £16,000 and less than or equal to £25,000 = £2,000
More than £25,000 and less than or equal to £37,000 = £1,500
More than £37,000 and less than or equal to £42,875 = £1,000
The principle behind means-tested methods of financial student support is that the household of a student is expected to contribute towards their finances, supporting said student in their time at university. This principle also guides UK government Student Finance England (SFE) maintenance loan payments, which are also means-tested according to a household's taxable income. Thus, a student receiving a lower maintenance loan is expected to belong to a household possessing a higher taxable income, and this household is expected to contribute to the student's finances, compared to a student receiving the maximum maintenance loan, where the household is not expected to contribute financially (in theory). This principle applies to the UCL undergraduate bursary. However, given the current climate concerning inflation and the cost-of-living crisis, I believe that the income thresholds for the undergraduate bursary are incredibly outdated, and are operating on a false premise that these (outdated) thresholds represent 'tiers' of household income, wherein higher tiers are capable of supporting their children financially. Today, a family whose household income is £26,000 will not be able to financially support their child at university, in the same way that a household at £15,000 will not be able to, but yet the student with a £26,000 household income will receive £1,500 from the bursary, compared to the student from the £15,000 household income who will receive £3,000, and so the primary principle behind means-tested financial support is violated.
To restore this principle, I propose that the union should lobby UCL for the UCL undergraduate bursary household income thresholds to be redrawn and rebalanced. I have drawn preliminary amended thresholds (within asterisks), which represent an improvement on current thresholds, but should not be taken as the final thresholds that the union should be lobbying towards:
Less than or equal to £16,000 -> *Less than or equal to £20,000* = £3,000
More than £16,000 and less than or equal to £25,000 -> *More than £20,000 and less than or equal to £30,000* = £2,000
More than £25,000 and less than or equal to £37,000 -> *More than £30,000 and less than or equal to £40,000* = £1,500
More than £37,000 and less than or equal to £42,875 -> *More than £40,000 and less than or equal to £50,000*= £1,000
2. Why would you like to do this?
The principle behind means-tested methods of financial student support is that the household of a student is expected to contribute towards their finances, supporting said student in their time at university. This principle also guides UK government Student Finance England (SFE) maintenance loan payments, which are also means-tested according to a household's taxable income. Thus, a student receiving a lower maintenance loan is expected to belong to a household possessing a higher taxable income, and this household is expected to contribute to the student's finances, compared to a student receiving the maximum maintenance loan, where the household is not expected to contribute financially (in theory). This principle applies to the UCL undergraduate bursary. However, given the current climate concerning inflation and the cost-of-living crisis, I believe that the income thresholds for the undergraduate bursary are incredibly outdated, and are operating on a false premise that these (outdated) thresholds represent 'tiers' of household income, wherein higher tiers are capable of supporting their children financially. Today, a family whose household income is £26,000 will not be able to financially support their child at university, in the same way that a household at £15,000 will not be able to, but yet the student with a £26,000 household income will receive £1,500 from the bursary, compared to the student from the £15,000 household income who will receive £3,000, and so the primary principle behind means-tested financial support is violated.
3. What effect will this have on student life?
This will help alleviate financial burden from students, who are disproportionately affected by the current cost-of living crisis.