Conservatives to pay off graduate loans

Graduate Loans

Graduate teachers will have their student loans paid off by the Conservatives, in an attempt to get more people teaching. The Conservatives are planning to pay the loans of the best academic achievers who want to teach at a graduate level.

Their plan is to get the most gifted science, maths, technology and engineering university students to teach in schools. They will make the taxpayer pay the monthly students loan repayments of graduates who achieve a 2:1 or a First degree. The taxpayer will only fund the repayments for as long as the person remains in the graduate teaching job. If they decide to leave their job, the rest of their loan will have to be paid off themselves.

However, only certain universities will qualify for this scheme, with 25 leading universities which provide graduates with the necessary qualifications being eligible to have their loans paid off.

The Conservative shadow schools secretary, Michael Gove, believes that the overall effect of this policy would be that better educated people would go into graduate jobs such as teaching, particularly in maths and science.

Mr Gove said: "We will have a new generation of specialist maths and science teachers. We will have a generation of teachers who have made a commitment to the long-term and thus we will diminish the churn that characterises our system now. We will raise the prestige of the profession and this will, as in Finland and Singapore, create a virtuous circle."

Students could save up to £40,000 under this new policy, which is a huge incentive as the current cash incentive is £5,000 for those who wish to teach in less popular subject areas.

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