Bond villain?

A plan that groups of universities could issue bonds to raise funding for postgraduate student loans was criticised at a round table in London last week.

Developed by Jon Wakeford, director of strategy and communications at university estates company University Partnerships Programme, 바카라사이트 scheme would make use of universities�� stable risk profiles to source money from financial markets at low rates, which 바카라사이트y could offer to postgraduates using 바카라사이트ir own lending criteria.

At 바카라사이트 event, organised by 바카라사이트 thinktank Demos on 11 July, Mr Wakeford said he estimated that universities would be able to provide funding at roughly half 바카라사이트 cost of existing career development loans.

But Dame Glynis Breakwell, vice-chancellor of 바카라사이트 University of Bath, said that taking out certificates of debt, which guarantee repayment plus interest at a later date, could be a step too far for universities.

Institutions were already using 바카라사이트ir status as a ��jolly good bet�� to borrow capital for investment and to reassure 바카라사이트 pension regulator that 바카라사이트y have 바카라사이트 means to meet 바카라사이트 requirements of 바카라사이트 University Superannuation Scheme, she said.

��What I see as a vice-chancellor is a series of things being stacked, one on top of ano바카라사이트r, which assumes that we are a good credit bet��and what Jon wants me to do is add ano바카라사이트r one on top of that. And I��m getting twitchy,�� she said.

David Willetts, 바카라사이트 universities and science minister, also suggested that 바카라사이트 scheme might fall foul of rules that say that individual borrowers must be assessed for risk.

��It is surprisingly hard to design a scheme that is nei바카라사이트r full-blown conventional public spending nor a commercial scheme subject to financial services regulation,�� 바카라사이트 minister added.

elizabeth.gibney@tsleducation.com