Catherine Bebbington
Students across universities in England could face having to pay up to Triple in tuition fees by 2012.
Universities will be allowed to charge up to £6,000 per year with a £9,000 cap for the higher tier. The government proposed the rise in response to Lord Browne’s spending review, which recommended funding for universities be severely cut. The proposed move has divided opinion as students feel they are being made to foot the bill, which is being debated in the House of Commons today.
The rise would not come into effect until 2012, meaning the majority of people at university now will continue to pay the current £3,290 until they graduate. Those who are aiming to go to university after that will face hefty tuition fees. They will however not have to pay back the loan until they are earining 21,000 a year, higher than the current £15,000 threshold.
Students pay tuition fees by taking out special low interest loans from the government. By cutting university funding the government will save money, but this money will immediately be given away in the form of larger loans for students to pay the higher tuition fees.
The students don’t have to pay back the loan any faster than before which means that the government won’t start getting any money from this scheme until about 20 years into the future.
It has literally no effect on todays economy, unless they do something really stupid like spending tomorrows money today,