Deferred fees for universities
I will argue for a simpler, fairer, more fiscally responsible and flexible form of university funding and student support. This system is designed to encourage a diverse higher education sector where high quality provision can flourish. The main points of the new system are: 1. Make student financial support available to cover all tuition and a modest cost of living. 2. Allow graduates to repay according to earnings with protection for poorer graduates. 3. Call HEFCE teaching grants “scholarships” and make students aware of their value. 4. Cap the level of funded fees plus HEFCE grant at the current level. 5. Allow universities to charge deferred fees. a. When they are paid the money goes to the student’s university not to the state. These fees have no fiscal implications. b. Bring some of the cash flow from deferred fees forward by working with a bank. 6. In the long-run move to making the cost of living support simpler by a. Providing more realistic cost of living support for all students. b. Removing means-tested university bursaries for cost of living expenses. c. Removing means-tested grants to students provided by the state. This builds on England’s higher education structure. The changes are simple to implement. It would set up a stable funding structure for our universities & provide the financial support our students need.
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