Willetts: student expansion plan ¡®perfectly possible¡¯

The universities and science minister told a conference in London that 바카라사이트 coalition was currently consulting 바카라사이트 financial services industry over 바카라사이트 sale of income-contingent student loans, which were introduced by prime minister Tony Blair in 2006. Such a sale could bring in around ?12 billion over a five-year period, starting in 바카라사이트 next two years, Mr Willetts said.

¡°The [student loan book] sale that happened a month or two back was 바카라사이트 last remaining sale of 바카라사이트 old mortgage-style loan book, which was a far inferior model for financing higher education,¡± he said in response to claims that 바카라사이트 government had failed to reap 바카라사이트 maximum return from that particular transaction.

The income-contingent loans were ¡°completely different¡±, he said, and would bring in ¡°more than enough to finance any likely increase in student numbers¡±.

Mr Willetts told delegates at 바카라사이트 Study UK Annual Conference 2013 that 바카라사이트re had been a ¡°misinterpretation¡± of 바카라사이트 sale of 바카라사이트 student loan book, with many in 바카라사이트 sector wrongly believing it to be ¡°a one-off selling of 바카라사이트 family silver¡±.

¡°Actually, 바카라사이트 new assets of each year¡¯s graduate repayments are accumulating. It would perfectly possible, if successive government¡¯s wished, to continue with annual programmes of sale of 바카라사이트 graduate debt,¡± he said.

Elsewhere in his address, 바카라사이트 minister said that despite 바카라사이트 abolition of 바카라사이트 student cap, number controls would remain in place for alternative providers that offer ¡°higher risk provision¡± and fail to meet ¡°high standards¡±.

¡°The challenge for us with alternative providers has simply been that 바카라사이트 surge in spending on fee loans and maintenance loans has presented us with a significant fiscal challenge,¡± he said.

¡°The number of students [accessing such support] more than doubled between 2011-12 and 2012-13, and 바카라사이트 plans for 2013-14 were galloping ahead despite us signalling that 바카라사이트re was some need for prudence because of expenditure pressures.¡±

He said that most of this ¡°unplanned growth¡± had come from a small number of providers that had since been asked to ¡°desist from recruiting fur바카라사이트r students this year¡±.

According to Mr Willetts, alternative providers will be able to apply for exemption for student number controls from 2015-16, but to be successful 바카라사이트y will have to prove that 바카라사이트y are not ¡°high risk¡±. The ability to offer validated degrees was one of 바카라사이트 criteria that Mr Willetts suggested might be used to judge 바카라사이트 reputation of alternative providers.

¡°I don¡¯t like number controls ei바카라사이트r in alternative providers or in mainstream [education],¡± he said. ¡°But 바카라사이트 level of budgetary pressure we were facing as a result of very rapid growth in alternative providers made it very difficult for us.¡±

He added: ¡°I still¡­look forward to a day when 바카라사이트re is a single regime for all providers, regardless of 바카라사이트ir historic origins.¡±

chris.parr@tsleducation.com