The government has announced it will fund an additional 10,000 university places in science, technology, engineering and maths-related subjects.

Business Secretary, Peter Mandelson, has announced a further 10,000 university places are to be made available to support more students entering higher education.

In a statement released by the Department for Business Innovation and Skills, the UK government announced that it will pay the support costs for full-time undergraduate entrants to four main subjects – Science, Technology, Engineering and Maths – otherwise known as ‘STEM’. 

It said that it was making this move “to invest through the downturn and build a stronger Britain”.

Lord Mandelson said: “Our expansion of higher education is more important now than ever as we continue to invest in a highly skilled workforce to win the jobs of the future and lead the way in Building Britain’s Future.”

The government intends to fund financial support for the additional students throughout their courses, but say it is a “fiscally neutral change” as it meets this additional funding by “reprioritising existing budgets and reducing the optional five year holiday on repayment of student loans to two years.”

At the beginning of July, UCAS announced that the number of applications to universities and colleges has increased by 9.7% compared to 2008, placing a greater need on the availability of student places. The organisation responsible for managing university applications, said that there had been a strong interest in science and engineering combination subjects.

Susan Anderson, CBI Director of Education and Skills commented on the announcement: “It’s good to see the government investing in the skills of the future.

“Demand from businesses for ‘STEM’ graduates is only set to grow over the coming years, as the UK draws more heavily on innovation and technology for jobs, growth and global competitiveness.”

The student union, NUS, said that although it welcomes the additional university places, it warns that many university applicants would still be disappointed due to the restriction to just the four subject areas in ‘STEM’.

NUS Vice-President for Higher Education, Aaron Porter, said: “Thousands of people who have applied to study non-STEM subjects are still going to be without a place in the summer.

“We understand the current pressures on the public finances, but the Government must also make the right long-term decisions. It is surely better to bear the cost of additional university places now than to shoulder the burden of long-term unemployment later.” 

Worryingly, ICM reported previously that two-fifths of companies have frozen graduate recruitment, click here for more details.