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08/09/2004
Tories pledge to scrap fees and funnel £21bn more into education
A Conservative government would provide an extra £21 billion investment in higher education, and scrap student fees in favour of loans, it has emerged today.
Shadow Education Secretary Tim Collins said that £3 billion of the extra investment would go directly into modernising teaching facilities, while the University Access Regulator and Labour's 50% admissions target will both be abolished.
The Tories claim that under their plans, the average graduate would leave college with a debt of £10,000 - nearly half the present £19,000. Graduates would start repaying loans once they earned more than £15,000 a year and debts would be written off after 25 years.
A graduate on average earnings under Labour's plans takes 14 years to repay debt, and the interest and principal they have to repay is a little over £24,000. Under Tory plans, they finish paying off their interest two years early and they would pay £7,000 less, Mr Collins claimed.
The Conservatives said that annual university income for UK undergraduate teaching would rise by £900 million from 2006/7 – "a funding boost two years earlier than under Labour's plans".
And "genuine financial independence for our universities" would be triggered through an £18 billion endowment programme, with private contributions matched by the state, the Opposition frontbencher said.
Mr Collins said that the package would not cost the taxpayer a penny more than Labour plans, while universities and students would get a better deal for the same level of spending.
Mr Collins added: "Labour have broken their promise and scrapped free higher education. We have kept our promises and will restore free higher education. This government is giving more money to poorer students, but taking it straight back through higher fees. Under a Conservative government there will be lower student debt and grants for poorer students."
Student loans would not be means tested, and students would pay a commercial interest rate on their loans – approximately 6.5%, with a maximum ceiling of 8%, the Tories said.
However, students would also be able to borrow higher amounts to replace expensive credit card and overdraft debts, Mr Collins added.
(gmcg)
Shadow Education Secretary Tim Collins said that £3 billion of the extra investment would go directly into modernising teaching facilities, while the University Access Regulator and Labour's 50% admissions target will both be abolished.
The Tories claim that under their plans, the average graduate would leave college with a debt of £10,000 - nearly half the present £19,000. Graduates would start repaying loans once they earned more than £15,000 a year and debts would be written off after 25 years.
A graduate on average earnings under Labour's plans takes 14 years to repay debt, and the interest and principal they have to repay is a little over £24,000. Under Tory plans, they finish paying off their interest two years early and they would pay £7,000 less, Mr Collins claimed.
The Conservatives said that annual university income for UK undergraduate teaching would rise by £900 million from 2006/7 – "a funding boost two years earlier than under Labour's plans".
And "genuine financial independence for our universities" would be triggered through an £18 billion endowment programme, with private contributions matched by the state, the Opposition frontbencher said.
Mr Collins said that the package would not cost the taxpayer a penny more than Labour plans, while universities and students would get a better deal for the same level of spending.
Mr Collins added: "Labour have broken their promise and scrapped free higher education. We have kept our promises and will restore free higher education. This government is giving more money to poorer students, but taking it straight back through higher fees. Under a Conservative government there will be lower student debt and grants for poorer students."
Student loans would not be means tested, and students would pay a commercial interest rate on their loans – approximately 6.5%, with a maximum ceiling of 8%, the Tories said.
However, students would also be able to borrow higher amounts to replace expensive credit card and overdraft debts, Mr Collins added.
(gmcg)
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21 April 2005
Liberal Democrats to tackle student debt
The Liberal Democrats have promised to remove the fear of debt from university students by scrapping tuition and top-up fees and increase grants for poorer students. The party announced that a Liberal Democrat government would provide grants of up to £2,000 per year to poorer students.
Liberal Democrats to tackle student debt
The Liberal Democrats have promised to remove the fear of debt from university students by scrapping tuition and top-up fees and increase grants for poorer students. The party announced that a Liberal Democrat government would provide grants of up to £2,000 per year to poorer students.
02 November 2011
Student Loan Company Recruits 'Lab Subjects'
Students from across the country are being recruited to take part in a unique experiment, which could shape how student finance products and services are run in the future. The Student Loans Company (SLC) has launched a nationwide search for 5,000 customers to take part in its online Student Finance Lab.
Student Loan Company Recruits 'Lab Subjects'
Students from across the country are being recruited to take part in a unique experiment, which could shape how student finance products and services are run in the future. The Student Loans Company (SLC) has launched a nationwide search for 5,000 customers to take part in its online Student Finance Lab.
17 February 2012
Student Fees Court Battle Fails
A legal battle against the raised cost of tuition fees in England has been lost on Friday morning. The legal challenge had been brought by teenagers, Callum Hurley from Peterborough, and Katy Moore from London, who both claimed the decision to allow fees to rise breached human rights and equality laws.
Student Fees Court Battle Fails
A legal battle against the raised cost of tuition fees in England has been lost on Friday morning. The legal challenge had been brought by teenagers, Callum Hurley from Peterborough, and Katy Moore from London, who both claimed the decision to allow fees to rise breached human rights and equality laws.
08 September 2011
Ulster Universities Seek Fee's Decision
There has been political reaction to news of a virtual impasse on setting the level of student fees and on university funding in Northern Ireland.
Ulster Universities Seek Fee's Decision
There has been political reaction to news of a virtual impasse on setting the level of student fees and on university funding in Northern Ireland.
20 December 2010
Transition For Universities Set Out
The Government has today published its annual Grant Letter to the Higher Education Funding Council for England (HEFCE). The letter from Secretary of State Vince Cable and Universities Minister David Willetts sets out what HEFCE’s priorities should be when allocating higher education budgets to the sector for 2011-12.
Transition For Universities Set Out
The Government has today published its annual Grant Letter to the Higher Education Funding Council for England (HEFCE). The letter from Secretary of State Vince Cable and Universities Minister David Willetts sets out what HEFCE’s priorities should be when allocating higher education budgets to the sector for 2011-12.
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Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
