This means students who turn 18 during their academic year will continue to save 50 per cent on rail fares until the railcard expires. Rail minister Lord Peter Hendy said: "This kind of common-sense change is exactly what passengers should expect from the railway. "Making travel fairer and more affordable is central to the vision for Great British Railways. Under the previous rules, more than 70,000 young people lost out on discounted travel each year, with the average student missing savings of around £175. The revised railcard will be available for purchase from August 17 and will cost £35 for one year.