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Option of Replacing Student Loans with Grants

Through time education remains and considered as one of the most important aspects for the person to grow and learn in order to become literate individuals in the society. At some point, the demand in gaining quality educational services is quite high due to the educational expenses that it entails. Although that was the case, still several parents tried their best to send their children to the prestigious educational learning institutes despite the higher educational institutes that it entails because most parents considered that education is one of the treasures that they can give to their children that it will always remain in their lives as long they live. In which, this is the only treasure that no one can ever take away from them. As a result, the government launches new educational programs that could support the educational needs of their country and could lead to its progress.

One of the recent programs or plans to be conducted in Scotland is the replacement of student loan with an option of grants. Since, it will lower down the interest rate upon doing the repayment of the educational loan that been availed. This new educational plan is quite an advantage for those families who availed an educational loan services in support for the continuity of the quality education of their children besides it will be repaid for installment basis and by due time it will be repaid fully without any interest that been left. According to Education Secretary Fiona Hyslop who is one of the in charged and spoke person of the government had send her word to the public that the Scottish Government had already delivered a commitment to scrap the graduate endowment fee, and as well create a start to replace the loans through bringing £38m worth of grants to every learners who are pursuing a higher education program whether for college degree, masters degree or doctorate level. The Scottish government has seen that transition of student loans to grants will be a best option for both the learners and UK Treasury. Since, it will allow the learners not to be educational in debt as they graduate and as well, it will save the would save the UK Treasury £30m that will lead to reinvested in bursaries of the nation.

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