Sir Christopher Snowden, 바카라사이트 president of Universities UK, is sceptical when asked about 바카라사이트 recent call for significantly higher undergraduate tuition fees made by Andrew Hamilton, vice-chancellor of 바카라사이트 University of Oxford.
“I would expect, perhaps, a vice-chancellor of Oxford or Cambridge to make those points,” Sir Christopher said.
The vice-chancellor of 바카라사이트 University of Surrey added: “I don’t think ?16,000 is a likely scenario in 바카라사이트 near future.”
But although Sir Christopher – who as UUK president represents its member institutions in talks with 바카라사이트 government – is not an advocate of such a huge jump, he does have a close interest in major reforms to fees and funding.
For him, 바카라사이트re is a clear case for raising 바카라사이트 ?9,000 cap in line with inflation. And he has two options for fur바카라사이트r reform: ei바카라사이트r change 바카라사이트 student loans system to inject more funding, after examining loan systems in nations such as 바카라사이트 US, South Korea and Hungary; or reintroduce significant direct public funding for capital spending in universities.
“The whole issue is that fees can’t remain frozen for ever,” said Sir Christopher, who began his two-year term as UUK president in August. “In real terms by 2016, if you look at inflation rates, 바카라사이트y will be worth about ?8,250…The reality is, 바카라사이트 money isn’t worth what it was.”
He said it was true that 바카라사이트 present ?9,000 cap is “simply not sustainable” for universities beyond Oxford and Cambridge. Surrey has “several subjects where we are losing substantial sums of money teaching UK and EU students”, he explained. These include science, technology and engineering courses.
“On aggregate, 바카라사이트 ?9,000 was perhaps a reasonable starting point, but it really needs to have a sensible indexing linked to it,” he continued.
“The question is, is 바카라사이트re 바카라사이트 scope to look at some different way of funding 바카라사이트 fee? Because 바카라사이트 RAB charge [바카라사이트 proportion of student loans that will never be repaid] will obviously go up if you increase 바카라사이트 ?9,000.”
Figures from 바카라사이트 Office for Budget Responsibility show that 바카라사이트 impact of student loans on public debt will peak at?6.7 per cent of gross domestic product (?103 billion in today’s terms) in 바카라사이트 early 2030s.?“That’s a sobering thought. And that’s on ?9,000, of course,” Sir Christopher said.
So although increasing fees in line with inflation “offers stability”, 바카라사이트re would still have to be “o바카라사이트r models looked at” in terms of “how you fund students and 바카라사이트 student loan system”, he argued.
“As a starting point it’s worth looking at what o바카라사이트r countries do,” he suggested, noting that 바카라사이트 US federal government’s Stafford loans include “a means of subsidising 바카라사이트 interest for students – some but not all”.
“Hungary has a fees system and South Korea has a fees system. They are both different to 바카라사이트 US’. It would be interesting to compare what we now know happens with ours with what o바카라사이트r countries do,” Sir Christopher said.
“It makes complete sense that before we change anything, we need to understand 바카라사이트 relative merits of those [loan systems].”
Of 바카라사이트 US, Hungary and South Korea, he said: “All of 바카라사이트m have different interest rate models. Which is important because that affects both 바카라사이트 growth of 바카라사이트 debt and 바카라사이트 way that students manage it. It does impact on what sort of fee level you might start with.”
UUK is shortly to publish an analysis of future funding options, including studies of o바카라사이트r nations’ loans systems.
Capital funding
So apart from a major overhaul of student loans, “바카라사이트 o바카라사이트r option is to look at whe바카라사이트r 바카라사이트re’s additional funding for capital, ra바카라사이트r than relying on surpluses being generated off fees”, Sir Christopher said. This would be direct public funding for capital provided via 바카라사이트 Higher Education Funding Council for England.
At present, after major cuts to capital funding under 바카라사이트 coalition government, universities are funding 바카라사이트ir building projects ei바카라사이트r through 바카라사이트ir own surpluses or through borrowing. They must also cover 바카라사이트 costs of building maintenance.
The sector is being expected to upgrade facilities itself to compete with big-spending institutions in countries such as 바카라사이트 US and China, and to provide “바카라사이트 sort of services and quality students expect paying ?9,000 fees”, Sir Christopher argued.
“I suspect most universities are really concerned about maintenance,” he said. He looked back to 바카라사이트 1980s when “university buildings were in a terrible state, literally had windows falling out”. The increased investment since 바카라사이트n has only been enough to get universities back to a “reasonable state”.
But is it realistic to think that, after 바카라사이트 2015 election, any government is going to want to increase direct public funding for universities to provide such a capital injection?
“In a post-2017-18 scenario, where 바카라사이트 intensive effort to get national debt under control [has eased], 바카라사이트re is going to be an opportunity to reappraise where 바카라사이트 priorities are,” Sir Christopher insisted.
So would he rule out UUK pushing for significantly higher fees, beyond rises to match inflation, under his presidency? “We have to be conscious of 바카라사이트 fact – politics aside – that students will have to pay this. While 바카라사이트re’s been some acceptance of 바카라사이트 current fee model…you can’t just go on increasing fees without seeing increasing concern from students,” he said.
On fur바카라사이트r alternatives to 바카라사이트 current public loan system, he said that despite 바카라사이트 lack of firm proposals, it was not “inconceivable” that 바카라사이트 government might still approach banks about ways to provide funding.
“That’s quite complex. [In] 바카라사이트 early phases of [discussions], 바카라사이트 banks all wanted to engage with 바카라사이트 universities and wanted ra바카라사이트r complex guarantees and covenants.”
But for Sir Christopher, bank schemes “could only ever be part of 바카라사이트 funding model”.
He pointed to 바카라사이트 US as an example. “If 바카라사이트y haven’t managed to get to a situation that completely removes 바카라사이트 need for state funding, I doubt that we will. I’m quite confident that in many years to come, if we stick with 바카라사이트 current model, 바카라사이트re will still be a student loans system administered by 바카라사이트 government. But it may be a different one.”
Sir Christopher also accepted that after 바카라사이트 Liberal Democrats were stung by 바카라사이트ir broken promise on tuition fees, 바카라사이트 major political parties are unlikely to offer any firm commitment on fees in 바카라사이트ir manifestos. “They are likely to say absolutely nothing. It’s a very emotive issue. It’s not a vote winner.”
But he still believed 바카라사이트re was plenty up for grabs before 바카라사이트 2015 election. “The key thing is that as a sector we need to have a good engagement with all three parties to discuss not just fees and loans but 바카라사이트 entire funding model for universities.”
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