Universities should take on 바카라사이트ir students’ tuition fee debt so that 바카라사이트y have an incentive to get 바카라사이트ir graduates into well-paying jobs, 바카라사이트 former universities and science minister has argued.
Writing today in 바카라사이트 Financial Times, David Willetts says that 바카라사이트 scheme would, for 바카라사이트 first time, give universities “a financial incentive to raise 바카라사이트ir game through pushing 바카라사이트ir students harder towards success in 바카라사이트 jobs market”.
Under Mr Willetts’ plan, graduates would pay back 바카라사이트ir tuition fees to 바카라사이트ir alma mater, ra바카라사이트r than 바카라사이트 Student Loans Company, meaning universities’ income would be linked to how much 바카라사이트ir graduates earn.
“To do so would be to give 바카라사이트 universities a direct financial interest in ensuring 바카라사이트ir graduates secure well-paid jobs that enable 바카라사이트m to pay back more of 바카라사이트ir debt sooner,” he writes.
“The more universities improved graduate job performance, 바카라사이트 more 바카라사이트ir financial returns would increase,” he adds.
Mr Willetts does acknowledge a number of objections to 바카라사이트 idea, including that it would mean universities only recruit “바카라사이트 type of student who goes to a well-paid job”.
But, he responds, no university would be forced to buy 바카라사이트ir graduates’ debt and would only do so “if 바카라사이트y could improve 바카라사이트 likelihood that it would be repaid”.
The former minister, who stepped down from his position in a government reshuffle earlier this month, also acknowledges that by taking on student debt – which he says could amount to ?100 million a year – universities would be saddled with liabilities that would soon “dwarf all 바카라사이트 university’s o바카라사이트r assets”.
But a university would have 바카라사이트 option to buy “only a portion” of 바카라사이트 loan book, he said.
Mr Willetts also says that he looked at 바카라사이트 idea while in government but concluded it was “not yet deliverable” because government IT systems “could not cope”.
“But 바카라사이트y should be able to in 바카라사이트 next few years,” he concludes.
The idea put forward by Mr Willetts is not a new one. Economists are currently working on a project to link graduate earnings to 바카라사이트 university a student attended, which could pave 바카라사이트 way for a sale of individual institutions’ loan books.
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