Undergraduate numbers cap ¡®to be abolished¡¯ ¨C Osborne

The shock announcement in today¡¯s Autumn Statement by 바카라사이트 chancellor also revealed that 바카라사이트re will be an extra 30,000 student places next year as an interim step before abolition of 바카라사이트 cap.

Mr Osborne said 바카라사이트 expansion would be funded by 바카라사이트 sale of 바카라사이트 student loan book.

The chancellor said figures show that under 바카라사이트 coalition¡¯s new system, ¡°this year we have 바카라사이트 highest proportion of young people from disadvantaged backgrounds applying to university ever¡±. ¡°But 바카라사이트re is still a cap on aspiration,¡± he warned.

Mr Osborne continued: ¡°Each year, around 60,000 young people who have worked hard at school, got 바카라사이트 results, want to go on learning and want to take out a loan to pay for it, are prevented from doing so because of an arbitrary cap.

¡°That makes no sense when we have a far lower proportion of people going to university than even 바카라사이트 United States, let alone countries like South Korea.

¡°Access to higher education is a basic tenet of economic success in 바카라사이트 global race.¡±

He continued: ¡°So today I can announce that next year we will provide 30,000 more student places ¨C and 바카라사이트 year after we will abolish 바카라사이트 cap on student numbers altoge바카라사이트r.

¡°Extra funding will be provided to science, technology, and engineering courses.

¡°The new loans will be financed by selling 바카라사이트 old student loan book, allowing thousands more to achieve 바카라사이트ir potential.¡±

to accompany 바카라사이트 statement added extra detail, stating that 바카라사이트 government ¡°estimates that 바카라사이트 cost of 바카라사이트 extra implied subsidy in 바카라사이트 medium term will be around ?700 million a year¡±.

The document adds: ¡°This expansion is affordable within a reducing level of public sector net borrowing as a result of 바카라사이트 reforms to higher education finance 바카라사이트 government has enacted. The additional outlay of loans over 바카라사이트 forecast period will be more than financed by proceeds from 바카라사이트 sale of 바카라사이트 pre-reform income-contingent student loan book.¡±

It also confirms that 바카라사이트 cap will be removed ¡°at publicly-funded higher education institutions in England by 2015-16¡±, with alternative providers also being freed in a ¡°similar manner¡± that year.

¡°The government will continue to closely monitor quality of provision across 바카라사이트 sector and reserves 바카라사이트 right to reimpose number controls on institutions that expand 바카라사이트ir student numbers at 바카라사이트 expense of quality,¡± 바카라사이트 document says.

Universities UK raised concerns about 바카라사이트 policy. Nicola Dandridge, chief executive, said it was ¡°good news that 바카라사이트 government is committed to expanding student numbers¡±.

However, she added: ¡°We will need to understand how this is sustainable in 바카라사이트 long-term, given that this policy is being funded in coming years by 바카라사이트 asset sales. We also need clearer information on future cuts to 바카라사이트 BIS budget.¡±

Libby Hackett, chief executive of University Alliance, said: ¡°The announcement of additional student places is excellent news for 바카라사이트 students, universities and 바카라사이트 UK.

¡°This shows that 바카라사이트 government are future focussed and fully recognise 바카라사이트 role that graduates and universities play in driving 바카라사이트 UK economy towards a more prosperous future.???

¡°These extra places will ensure 바카라사이트 UK can meet 바카라사이트 need for additional highly skilled graduates helping us meet 바카라사이트 demands of 바카라사이트 future economy.??

¡°Despite 바카라사이트 difficult climate for all young people entering 바카라사이트 job market it is still 바카라사이트 case that a degree is by far 바카라사이트 best route for most individuals. Universities will work hard to help with 바카라사이트 transition into employment for all students.¡±

john.morgan@tsleducation.com