A Study On Student Financial Aid Policy In British Higher Education

Along with the rapid progress of the society, the higher education in China is developing from elite education to mass education. The government promulgates student finance policies to ensure students from low-income families have equal access to higher education, complete their studies and benefit from higher education. Student finance policy of higher education is an important guarantee of education equity. However, there exist some problems in student finance policies of higher education in China, seriously affecting financial aid effectiveness, and urgently need to learn advanced experiences to improve the policies in China. As one of the earliest countries which started to develop higher education all around the world, UK has a long history of higher education. Since 1960s, UK has enacted a series of important higher education policies, which deeply influenced the development of UK. Those valuable experiences can be used for reference. This paper firstly introduced the background and the content and the implementation of student finance policies of higher education in UK at the present stage, and then, analyzes and concludes its characteristics and limitations, finally proposes some references and enlightenments to the student finance policies of higher education in China.The background of student finance policies of higher education in UK, in the international perspective is pressure of international competition and influence of higher education internalization, in the domestic perspective is demand of long-term economic development, emphasis on equity and democracy of education policies, trend of higher education marketization and current tuition policy. Student finance of higher education in UK is provided by Student Loans Company and target full-time and part-time students. Financial aid modes are tuition fee loan, maintenance loan, maintenance grant, special support grant and extra help. Tuition fee loan varies based on different learning types of students. Maintenance loan depends on students’ household income, residence, school location and starting time of course. Maintenance grant depends on students’ household income. Special support grant satisfies special needs of special groups and extra help is the supplement of loans and grants. Students’ loan repayment follows repayment of income contingent loans and Her Majesty’s Revenue and Customs is responsible for collecting loans.In this research the following research methods are adopted. First is literature method. The background of student finance policies of higher education in UK is understood through consulting literature materials. On this basis, the background is analyzed in international and domestic perspective. Reorganizing student finance policies of higher education in UK helps lead to a clear understanding of aiding subject and responsibilities, aiding targets and conditions, aiding modes and funds management. Implementation effects and influences of policies are discussed through analyzing statistical release published by Student Loans Company. Second is comparative analysis method. Through comparative analysis, the characteristics of student finance policies of higher education in UK are concluded. Based on the existing problems of student finance policies of higher education in China, suggestions are proposed.The research finds that student finance policies of higher education in UK have the following characteristics. Firstly, student finance has diverse aiding modes and coordinating content. Secondly, student finance policies provide targeted support. Thirdly, repayment of income contingent loans is adopted. Fourthly, national tax system is responsible for collecting loans. Based on the existing problems of student finance policies of higher education in China, suggestions for improving these polices are proposed in the perspective of broadening investment channels of higher education, building reasonable loan repayment system, adopting flexible educational system and strengthening legal construction.