A major review has been launched into student funding as it emerged funding for the poorest has almost halved over the past five years.
Official statistics show the number of being paid grants across Scotland has fallen nearly 5% in a year as an increasing number are taking out loans.
The changes were revealed as the Scottish Government announced the chief executive of Virgin Money, Jayne-Anne Gadhia, will head a review into the effectiveness of the country’s student financial support.
The latest figures from the Student Awards Agency Scotland (SAAS) show the number of students receiving bursaries or grants fell by 4.8% to 49,815 in 2015/16 compared with the previous year, while the total cost increased 4% to £66.1 million.
The number of students taking out loans rose during the same period by 3.4% to 92,005 and the total authorised in loans was £486.3 million, a 3.7% increase from 2014/15.
The average loan per student in 2015/16 was £5,290, up £20 on the previous year.
Conservative shadow education secretary Liz Smith said: “These are hugely worrying figures, and show that the SNP has slashed bursary support in recent years.
“At a time when we should be doing all we can to close Scotland’s attainment gap, the SNP has chosen to cut the money given to those who need it most.”
Shirley-Anne Somerville, Minister for Further Education, Higher Education & Science, said she was “delighted” to announced Ms Gadhia’s appointment.
She said: “As part of our Programme for Government, we committed to reviewing student support to make sure the system is fair and effective.”
Ms Gadhia said: “It is important to ensure the student support system is fit for purpose, fair and firmly focused on meeting the needs of all students in further and higher education, particularly the most vulnerable.”
