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Postgraduate loans announced

State-backed loans will be offered to young students taking masters degrees, the chancellor revealed today in the autumn statement.

Loans of up to £10,000 will be offered to those aged under 30 from September 2016, George Osborne (pictured) said. It is not yet clear whether the loans will be for tuition fees or maintenance. In a statement the government said that details of the loans have yet to be confirmed.

According to the government, the number of students from poor backgrounds who enrol on postgraduate courses is falling. The government says it expects 40,000 students to take out the loans, which would enable 10,000 more individuals to undertake postgraduate study each year.

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