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Loop Hole Means Retirees on Pension Annuity Incomes get ‘Free’ University

A free degree may sound like a thing of the past in the UK but that is not the case for the majority of the country's retirees. Research has shown that most of Britain's retirees are eligible for student's loans that they will never have to back, and many are taking advantage of this to study for a degree in later life.

Prudential Insurance group released figures showing that retirees in 2013 will have an average income of £15,300 per year from their pension annuities payments. This means the majority of retired Britons fall considerably short of the £21,000 threshold that must be exceed before student loan repayments are eligible.

With no age limit on tuition fee loans, which are paid directly to the higher education institution that the student is studying at, growing numbers of retirees are choosing to go to university. There is also no requirement on whether the course is taken full time or part time.

There is, however, an age limit of 60 years of age on maintenance loans, which are used to cover everyday costs of living, such as rent and food.

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The Graduate Job Search

It is something familiar to the vast majority of students and graduates. You are approaching the end of your degree course and you suddenly hear the words ‘job applications'. It can often be a daunting prospect starting your graduate job hunt, particularly if you are unsure of exactly what kind of role you would like to work in. But where do graduates actually look for jobs? When it comes to the process of job hunting for a graduate role, what does it actually involve?

A recent graduate jobs survey for Total Jobs suggests that the majority of graduates looking for jobs in London. This shouldn't come as much of a surprise, seeing as London is the location of many large corporations, as well as public institutions, both of which are popular options for graduates. The South East is the second most popular location for graduate job hunting, suggesting that the country is ‘bottom heavy' when it comes to roles desired by graduates.

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