Maintenance grants could increase from £5,500 to £7,500 for future university pupils studying in the UK.

Plans are in place to increase the level of maintenance support available to students studying at higher education level, subject to Tynwald approval.

If passed, the maximum maintenance support for qualifying students going to the UK to study will increase from £5,500 to £7,500 from September 1 this year.

Those who will be studying in London and any country outside the UK will also see support increase from £6,000 to £8,000.

For students studying at University College Isle of Man, the maintenance grant has been increased for non-degree courses from £2,500 to £2,750 and for degree course from £4,000 to £5,000.

Graham Cregeen MHK, Minister for Education, Sport and Culture, said: ’I am pleased to be able to make an additional £1.5 million in funding available for students who want to pursue higher education.

’This brings the total annual budget for higher education awards to £10.4 million a year - a significant investment in the future of our students.’

A new rate of reduction in the level of support is also planned.

For every £6 of a contributor’s income above the minimum level there would be a £1 reduction in the support offered, which means that a person could earn up to £61,795 and still receive support.

The department stated: ’The regulations also seek to prevent a gradual tapering effect for those earning between £60,000 and £61,795 so that there would be a minimum level of support of £300 for those in this income bracket.’

These changes, which would begin in the 2019/20 academic year, would also increase the level at which additional means testing of fees starts, from £100,000 to £112,000.

Allowances will be made for families that have more than one student studying at the same time.

This means the limit of £112,000 would increase by £19,285 for each additional student of a family that is on a course in a given academic year.

For more information, visit: www.gov.im/student-grants