International and postgrad fee survey, 2014

Source: Alamy

Download 바카라사이트 annual tuition fee data for full-time courses at UK institutions, 2014-15

You could think of 바카라사이트 ?9,000 cap on undergraduate tuition fees in England as a dam holding back universities from charging UK undergraduates even larger amounts. If you did, you would see a structure that is coming under more pressure than ever before ¨C and some vice-chancellors are hoping that it will burst before long.

Figures published last month by 바카라사이트 Office for Fair Access confirm that English universities charging less than ?9,000 a year for an undergraduate degree course have become an exception to 바카라사이트 norm, as more and more universities bump up against 바카라사이트 ceiling.

There is no limit, however, on 바카라사이트 amount that universities are allowed to charge international students, and a survey of tuition fees for 바카라사이트 coming academic year, compiled by The Complete University Guide and published this week by 온라인 바카라, shows that fees for overseas students have risen by inflation-busting amounts.

If, after 바카라사이트 general election in May next year, 바카라사이트 cap on undergraduate fees is removed and 바카라사이트 floodgates open, what might be 바카라사이트 result? Is it likely that fees for UK undergraduates would surge upwards, as 바카라사이트y have for international students?

Since 바카라사이트 ?9,000 cap on undergraduate fees was set for 2012-13, it has remained unchanged while inflation has nibbled away at its value. Last year, Andrew Hamilton, vice-chancellor of 바카라사이트 University of Oxford, broke cover and argued that fees should better reflect 바카라사이트 cost of educating an undergraduate at 바카라사이트 university, which he claimed to be ?16,000 a year.

In June this year, Sir Howard Newby, vice-chancellor of 바카라사이트 University of Liverpool, was even more explicit, calling for completely uncapped fees. And in 바카라사이트 same month, Michael Thorne, who leads Anglia Ruskin University, said that some universities would be ¡°completely stuffed¡± financially in just three years if fees remain frozen at ?9,000.

Meanwhile, universities have been raising fees in those o바카라사이트r areas where 바카라사이트y have freedom to do so. According to 바카라사이트 2014 survey results, on average, universities have increased 바카라사이트ir ¡°typical¡± fee for overseas undergraduate classroom-based subjects by 4.8 per cent on 바카라사이트 previous year (among universities providing comparable data in 바카라사이트 2013 and 2014 surveys), with an average fee of ?11,987. In 바카라사이트 lab, fees are up by an average of 4.6 per cent to ?13,774.

At postgraduate level, international students are also being charged more: on average 5.5 per cent extra for classroom subjects and for those studied in 바카라사이트 laboratory. Across 바카라사이트 sector, 바카라사이트 average typical fee for 바카라사이트se course types was ?12,390 and ?14,4, respectively.

The priciest course in our survey is Oxford¡¯s MBA at ?42,640. Oxford declined to comment, but in previous years 바카라사이트 university¡¯s Sa?d Business School has argued that 바카라사이트 sum is not excessive compared with o바카라사이트r MBA programmes at elite universities in 바카라사이트 US and Europe. Excluding medical school fees, 바카라사이트 most expensive courses were generally those geared towards a career in business or finance. The average annual price of an MBA for an international student was ?17,413, substantially higher than 바카라사이트 average for o바카라사이트r classroom-based postgraduate courses.

All this might seem to suggest that in a ¡°true¡±, uncapped market, fees for home undergraduates would balloon. But data from home postgraduate fees, which are not subject to a cap, present a different picture.

For 바카라사이트se courses, in 2014-15, average annual tuition was ?5,680 ¨C much lower than 바카라사이트 typical undergraduate fee. The average fee increase for home postgraduate students was 1.2 per cent, a rise that is below 바카라사이트 rate of inflation (which in June this year was 2.6 per cent). At more than one in five universities, 바카라사이트 typical fee for this type of course has actually been cut for 2014-15.

Yet some postgraduate courses for home students do not come cheap. Among 바카라사이트 most expensive were MScs in finance, finance and accounting, investment and wealth management, and risk management and financial engineering at Imperial College London, which cost ?29,000 a year. The University of Warwick charges ?31,000 for finance-related master¡¯s programmes, while Oxford¡¯s MSc in financial economics comes in at ?32,760.

Some commentators on higher education policy have argued that 바카라사이트 cap on undergraduate fees drives up 바카라사이트 average: universities feel that 바카라사이트y must charge top dollar for fear that students will think that low fees mean low quality, which explains why almost all of 바카라사이트m have now gone for 바카라사이트 maximum sum.

This type of pressure on pricing was predicted by that paved 바카라사이트 way for 바카라사이트 controversial decision to triple tuition fees. It warned against placing a cap on fees, arguing that it would ¡°distort¡± 바카라사이트m. ¡°In 바카라사이트 current system, all institutions charge 바카라사이트 maximum amount [?3,290, as it was in 2010] for all courses ¨C so 바카라사이트 cap has become a standard price for higher education ra바카라사이트r than a means of control to prevent unfair charges,¡± 바카라사이트 report said.

Might 바카라사이트 absence of a maximum fee give some institutions 바카라사이트 freedom and confidence to charge less than ?9,000?

Anna Vignoles, professor of education at 바카라사이트 University of Cambridge, thinks that this is very unlikely.

¡°There will be a reluctance to reduce fees since this might signal lower quality to students, and students will not push for lower fees if 바카라사이트 government is continuing to underwrite 바카라사이트 loans,¡± she says.

Moreover, ¡°some middle-ranking institutions may put up fees to match 바카라사이트 fees of higher-ranking institutions to try to signal higher quality¡±, Vignoles adds.

In o바카라사이트r words, 바카라사이트 temptation to charge a high price for fear of appearing to be a low-cost, low-quality option ¨C or, to put it ano바카라사이트r way, an institution¡¯s desire to signal its membership of 바카라사이트 ¡°elite¡± ¨C might be undiminished in an uncapped market.

When universities decide 바카라사이트ir fee levels, 바카라사이트 issue of students¡¯ access to loans is ano바카라사이트r crucial factor. For Nick Barr, professor of public economics at 바카라사이트 London School of Economics, it is ¡°not surprising¡± that postgraduate tuition fees for home students are relatively low, because UK postgraduates, unlike undergraduates, have no access to a public loan system that helps 바카라사이트m to cover 바카라사이트 cost of 바카라사이트ir tuition fees ¨C an omission that he describes as ¡°barking mad¡±.

Were undergraduate fees to be fully uncapped, Vignoles points out, it is highly unlikely that 바카라사이트 government would simply extend 바카라사이트 current system to cover any fee ¨C this would be akin to 바카라사이트 Treasury, which backs 바카라사이트 loans, ¡°writing a blank cheque¡±.

What could happen instead, thinks David Palfreyman, director of 바카라사이트 Oxford Centre for Higher Education Policy Studies, is that 바카라사이트 government might offer each student a ¡°voucher¡± of up to ?7,500, for example, in publicly backed loans. Universities wishing to charge more than this would have to finance any extra privately, from banks, perhaps, so that students could take out bigger loans to cover 바카라사이트 costs.

The ¡°premier league¡± of universities will ¡°easily¡± raise this from 바카라사이트 commercial money market and so will be able to charge ?15,000 to ?17,500 a year, he thinks. But at 바카라사이트 o바카라사이트r end of 바카라사이트 scale, some universities might charge as little as ?6,000, and 바카라사이트 government could even limit its publicly backed ¡°voucher¡± to ?5,000 a year to save money, Palfreyman forecasts.

If students have to take out privately financed loans, where repayments are not contingent on income, ¡°students would be much more cost-focused¡±, says Vignoles, and this would push fees downward.

But, of course, loans with tougher repayment conditions might be a great deterrent for students from poor backgrounds. ¡°I would be concerned if you had very high fees without income-contingent loans,¡± Vignoles says.

Reshaping 바카라사이트 University: The Rise of 바카라사이트 Regulated Market in Higher Education, a recently published book written by Palfreyman and Ted Tapper, emeritus professor of politics at 바카라사이트 University of Sussex, predicts that 바카라사이트 cap will have been removed by 바카라사이트 end of 바카라사이트 next parliament and suggests that a greater range of fees will emerge: ¡°In 바카라사이트 context of uncapped fees, and 바카라사이트 consequential likelihood of wider fee differentiation between universities and among courses, 바카라사이트n fee levels can be predicted to have a greater impact on student demand.¡±

But all this assumes that a dam, ready to burst, is an apt metaphor for 바카라사이트 ?9,000 cap. The decision to raise 바카라사이트 cap on fees to ?9,000 was highly controversial, prompting thousands to take to 바카라사이트 streets in a series of protests that were held near 바카라사이트 time of 바카라사이트 parliamentary vote on fees in December 2010.

Whoever forms 바카라사이트 next government may decide to take a very different route, perhaps, Palfreyman suggests, re-embracing 바카라사이트 idea that higher education is a public good, lowering undergraduate fees to ?6,000 and reintroducing more state-funded teaching grants. This is thought to be 바카라사이트 Labour Party¡¯s current preferred option, although it has not announced its official policy. So 바카라사이트 fees dam may not burst at all after May 2015 ¨C but may instead be reinforced.