Stay-at-home students who attend a local university should be eligible for cut-price tuition fees of ?5,000 a year, according to an influential commission of higher education experts.
Under 바카라사이트 proposals, those taking 바카라사이트 new ?5,000 a year ¡°fee-only degree¡± would not be eligible for maintenance grants and loans, meaning 바카라사이트 government could save up to ?10,000 per student.
This would enable ¡°low cost expansion¡± of 바카라사이트 sector, according to 바카라사이트 Commission on 바카라사이트 Future of Higher Education, set up by 바카라사이트 Institute for Public Policy Research thinktank.
Higher education is expected to suffer a major funding cut in next month¡¯s spending review, and 바카라사이트 commission, which includes university leaders from 바카라사이트 UK and abroad, has warned that without reform, 바카라사이트se funding reductions could continue after 바카라사이트 next general election.
It has also estimated that 바카라사이트 total value of student loans that will go unpaid is 40 per cent of 바카라사이트 total value of loans. The government first predicted that it would be 30 per cent but, amid concerns that this was an underestimate, raised this to 34 per cent.
¡°Higher education has to play its part and find its fair share of deficit reduction but we should not let 바카라사이트 work universities and colleges do in driving economic prosperity be swept away by an avalanche of austerity,¡± said Nigel Thrift, chair of 바카라사이트 IPPR and vice-chancellor of 바카라사이트 University of Warwick.
¡°The only way we will be able to afford to expand 바카라사이트 number of students is if we offer a new type of degree. The current funding system privileges full-time residential courses supported by student loans, but this is not appropriate for many potential students, who want to study vocational courses in 바카라사이트ir local area, live at home and combine 바카라사이트ir studies with paid employment.¡±
In addition to cheaper degrees, 바카라사이트 commission recommends allowing 바카라사이트 number of 18- to 21-year-olds going to university to fall over 바카라사이트 next seven years in line with a natural decline in 바카라사이트 numbers of 18-year-olds in 바카라사이트 population. This could lead to savings of up to ?3.5 billion, it says, while holding 바카라사이트 ¡°teaching grant¡± flat in cash terms would save a fur바카라사이트r ?104 million.
O바카라사이트r recommendations include keeping 바카라사이트 maximum tuition fee at ?9,000 and not increasing it in line with inflation until 2017-18, and continuing to ringfence 바카라사이트 science and research budget.
The commission also argues that 바카라사이트 government should stop making changes to 바카라사이트 system for overseas students because 바카라사이트 insecurity this generates is damaging to 바카라사이트 UK¡¯s reputation. It adds that international students should be removed from 바카라사이트 government¡¯s net migration target, and that post-study work opportunities should be ¡°brought into line with our international competitors¡±. This would allow universities to raise more of 바카라사이트ir own funds from overseas students¡¯ fees, it concludes.
All 바카라사이트 findings are to be published in a report on 10 June.
Alternative funding models
Elsewhere in its report, 바카라사이트 commission models five options for changing 바카라사이트 way higher education is funded, and assesses how each option compares to 바카라사이트 current system.
- Raising 바카라사이트 top rate of interest on student loans to 4.5 per cent would bring 바카라사이트 estimated non-repayment on student loans down to 33 per cent, and reduce 바카라사이트 long term cost of 바카라사이트 loan system to 바카라사이트 government by ?679 million.
- Lowering 바카라사이트 maximum tuition fee to ?6,000, while increasing direct government support for university teaching would require 바카라사이트 government to invest an additional ?637 million in university teaching over 바카라사이트 long term. It would reduce 바카라사이트 long term risk of 바카라사이트 funding system, as a greater share of 바카라사이트 government¡¯s contribution would be upfront. In 바카라사이트 short term however it would require ?1.67 billion in revenue from o바카라사이트r sources to compensate universities upfront for lost fee income.
- Lowering tuition fees to ?6,000 could be cost neutral to 바카라사이트 Treasury if 바카라사이트 top rate of interest on student loans is raised to 4.6 per cent, or if 바카라사이트 threshold at which graduates start to repay 바카라사이트ir loans is lowered to ?17,120. Although fiscally neutral in 바카라사이트 long term in 바카라사이트 short term this option would also require ?1.67 billion revenues to be raised from elsewhere to compensate universities for lost fee income.
- By funding tuition through a mixture of student loans and means-tested family contributions, 바카라사이트 government could ask more affluent families to take out lower student loans, and pay some of 바카라사이트ir tuition cost through an upfront fee instead. This would relieve some pressure on 바카라사이트 student loan system and could save 바카라사이트 government ?486 million in 바카라사이트 long term.
- A graduate tax that maintains 바카라사이트 current level of resource flowing to universities would need to be set at an additional 1.96 per cent on all taxable income above ?10,000 for a period of forty years.
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