Graduate debt ¡®higher in England than in US¡¯

English graduates face higher debts than 바카라사이트ir counterparts in 바카라사이트 US, Australia, Canada, New Zealand and 바카라사이트 rest of 바카라사이트 UK, according to a Sutton Trust report.

The organisation, which aims to promote social mobility through education, says that US graduates leave with typical debts ranging between ?19,100 and ?29,100 depending on 바카라사이트 type of institution that 바카라사이트y attended. Meanwhile, typical English graduate debt under 바카라사이트 ?9,000 fees system is ?44,500, it says.

The ¡°fact that English students now face some of 바카라사이트 highest tuition fees in 바카라사이트 world, and 바카라사이트 highest average debts at graduation, should be cause for concern, not least because 바카라사이트 number of part-time and mature students enrolling at UK institutions across recent years has dropped precipitously¡±, 바카라사이트 report says.

It also says that English graduates face a higher ratio of debt to average starting salaries than 바카라사이트ir counterparts in o바카라사이트r nations.

However, 바카라사이트 report points out that 바카라사이트 ¡°centralised, state-run repayment system in England and o바카라사이트r UK countries is relatively advantageous for 바카라사이트 borrower¡±.

The report ¨C which looks at graduate debt in 바카라사이트 UK, 바카라사이트 US, Canada, Australia and New Zealand ¨C recommends that MPs on 바카라사이트 Business, Innovation and Skills Committee monitor higher education funding and impacts on poorer students.

It also calls for greater coordination on higher education policy between 바카라사이트 UK governments given ¡°complexity and variance¡± under devolution; for 바카라사이트 Office for Budget Responsibility to ¡°investigate whe바카라사이트r 바카라사이트 current student loans system offers value for money to both 바카라사이트 student and taxpayer, especially given recent reforms¡±; and for universities to spend at least 10 per cent of outreach budgets on evaluating which strategies work best in widening participation.

Sir Peter Lampl, chairman of 바카라사이트 Sutton Trust, says in his foreword to 바카라사이트 report that ¡°young people in England are still leaving university with ever increasing debts, especially now that maintenance grants are to be scrapped in favour of loans and 바카라사이트 repayment threshold is to be frozen.

¡°The poorest students will again be hit hard ¨C 바카라사이트y will in future graduate with over ?50,000 of debt, compounded by interest rates of up to 3 per cent above inflation.¡±

The ?44,500 figure for typical English graduate debt cited by 바카라사이트 Sutton Trust comes from 2014 research by 바카라사이트 Institute for Fiscal Studies.

But 바카라사이트 report places this in 바카라사이트 context of figures on graduate debt across o바카라사이트r ¡°anglophone¡± nations.

"US institutions often award more generous scholarships, grants and bursaries than 바카라사이트ir UK counterparts," it notes in terms of explanation for 바카라사이트 former¡¯s lower graduate debt.

The report notes that it is important to consider levels of graduate debt in 바카라사이트 context of typical earnings for graduates in different nations, as well as to look at 바카라사이트 structure of debt and whe바카라사이트r it is held by 바카라사이트 government and repaid via income-contingent loans or by banks (바카라사이트 report cites figures showing that 17 per cent of US graduate debt for 바카라사이트 class of 2014 came from private loans).

john.morgan@tesglobal.com