Aalto University Student Union
Statement 7.3.2016
For immediate release

The report of the investigator Roope Uusitalo on student financial aid reforms was published on Tuesday, 1.3.2016. Aalto University Student Union (AYY) is extremely concerned about the conclusion of the investigation. Even though, according to the proposal, the total monthly amount of student financial aid would rise, a smaller amount of student grant, an emphasis on loans and the raising of the performance requirements are a great threat to creativity and innovations. In the future, six academic credits would have to be achieved per every month of financial aid claimed. From here on, there would be 45 months of financial aid available for a degree of 300 academic credits, and in total a maximum of 54.

Aalto University has been a good growth platform for creativity, innovation and start-up companies and 70-100 companies a year have been set up in its ambit.  It’s not just a question of a degree, but of creating networks during the period of study and creating something new together. Austerity does not create innovation. A flexible financial aid system, on the other hand, provides the possibility to learn, make mistakes and try out at entrepreneurship even when it may be difficult to predict one’s own career path.

“Would, for example, Slush, Aalto on Waves or the success in international competition of many students have arisen if students hadn’t been allowed some flexibility with their academic credit requirements – without losing their source of income?”, ponders Milja Asikainen, the Chair of the AYY Board.

The cuts remove even the last element of flexibility from the student financial aid system. If the studies are prolonged for some reason, the financial aid months will get used up quickly. AYY is disappointed that student financial aid cuts force students into narrow-ranging degrees and that the opportunity to find one’s own direction, make mistakes or set up one’s own company alongside the studies will disappear.

Aalto University invests particularly in the cross-disciplinary nature and entrepreneurial spirit of studies. Therefore it’s also important from the university’s point of view that the opportunities of students to acquire a diverse range of experience are not reduced through the student financial aid changes.

Further information:

Milja Asikainen, Chair of the AYY Board, tel. 050 520 9420, milja.asikainen@ayy.fi

Elli-Noora Kaurila, Student Advocacy Specialist, tel. 050 520 9445, elli-noora.kaurila@ayy.fi