To ask the Minister for the Economy to detail any plans or conversations he has had with relevant stakeholders to provide financial support or alterations to student loan options, for students trying to cope with increasing fuel and energy bills.

My Department assists in tackling fuel poverty through setting energy efficiency policy that supports the reduction in household energy use and as a consequence household energy bills. However, the Department for Communities has lead responsibility for fuel poverty and any mitigations which may be put in place to assist with rising fuel costs.

I do, however, recognise the impact rising fuel and energy bills is having on households across Northern Ireland, including students who live away from home during their studies. For the current 2021/22 academic year my Department continues to provide student support to eligible higher education students in the form of a means tested Maintenance Loan of up to £3,750 for students living at home and a non-repayable means tested Maintenance Grant of up to £3,475 to help with students’ living costs. Due to the uncertainty regarding my Department’s budgetary position and the lead-in times required to enact any changes, no alterations can be made to the maintenance package at this time. Indeed, if a Budget were to be agreed, the earliest any changes could potentially be made to the student support package as it currently stands would be academic year 2023/24 at the earliest.

However, students who experience genuine financial hardship during the course of their studies can apply for additional support from the Student Support Funds. This support (often referred to as Hardship Funds) can provide financial help to students who face financial difficulties in meeting their living costs. My officials closely monitor the demand for this support, and as at the end of December less than half the hardship funding available to students had been drawn down. I would therefore encourage any student who is experiencing hardship to contact their local university’s student support service.