Students could expect to see tuition fees soar, as Lib Dem, Vince cable has had sudden turn in favor for ‘graduate Tax’.
A review of higher education finance due out on the 12 October, is expected to outline plans to lift the current cap on how much universities can charge for courses.
This could mean course fees which are currently deemed affordable priced at £3,290 in England, Wales and Northern Ireland could be increased to as much as £10,000, or even abandoned altogether.
One student studying at UWE in Bristol has said ‘’this is worrying news, university is already very expensive and the increase in tuition cost may deter young people especially from poorer backgrounds from applying to university.
The government should concentrate on reducing the cost of university so it can appeal to a wider range of people and give everyone an opportunity to educate themselves further without the worry of incurring a colossal amount of debt upon completion of their degree.’’
Employers are also very worried at this news and rely heavily on new grads to bring ideas and innovation to their organizations; some recruiters feel that this increase in Tuition cost mean many talented students are forging the University experience reducing the talent pool for potential recruiters in search of young graduates to employ.
Tory Ministers have also indicated support for a variable rate on interest which could mean higher earning graduates will have to pay back at a higher rate than poorer counterparts.
