Tag Archives: The Guardian

How should Higher Education be funded?

6 Oct

It’s a topic that is has been particularly highly debated over the last year, promises were made in the election campaigns, students were canvassed for their votes and Universities demanded more money. However, now we have a coalition government who doesn’t seem to be sure about how they should proceed. The Liberal Democrats promised to scrap University tuition fees for first degrees and the Conservatives covered their backs by saying ‘We will await Lord Browne’s final report into higher education funding, and will judge its proposals against the need to: increase social mobility; take into account the impact on student debt; ensure a properly funded university sector; improve the quality of teaching; advance scholarship; and attract a higher proportion of students from disadvantaged backgrounds.’.

However, now it is time to see some action and some decision from our new Government. The average student comes out of their first (3 year) degree owing over £21,000 in student loan and tuition fee loan. That’s providing they don’t get into any extra debt through credit cards or other loans. The system isn’t working, we’ve blogged already about the amount of trouble Student Finance England have been in and the stress it has caused countless students trying to access funding.

Yesterday, the Guardian published some views on the Browne review of higher education funding and spoke to student and staff representatives from Kingston University. Their opinions are interesting, and seem to back up the general consensus that the current system is not fair, but what the ideal solution would be is undecided.

The current system allows students from low-income families or disadvantaged backgrounds to access a wealth of funding, however those students coming from middle-class families with an average income are left with very little grant and a lot of debt.

We don’t know what the solution is, without a pot of money to pay for everyone’s degrees there isn’t an easy option. Graduate taxation doesn’t sound ideal and just means you face longer as a new graduate before you are able to start thinking about getting on the property ladder or having any financial security. The way grants and loans are administered at the moment isn’t right either, with many students from a ‘typical’ university-goer background missing out on funding or saddling thousands of pounds worth of debt. Increasing tuition fees to a potential £10,000 a year would more than triple the debt students come out of University with – not a good way to start your career.

What do you think? How should our degrees be funded? Has opening the doors of Higher Education to everyone meant that a degree isn’t worth as much in the job market? How do you fund your degree/living now? Let us know!

It’s a tricky one!

Love

Clever Student Money

Useful sites: Student finance at guardian.co.uk

6 Sep

The Guardian has a selection of great articles on it’s Student finance site at the moment.  Take a look at the link given below, the articles range from talking about budgeting through to living in shared accommodation.  Well worth a flick through and probably a good one to bookmark and come back to later as well!

Student finance | Money | guardian.co.uk.

We’ll be back tomorrow with a new article and a selection of great student discounts!

Love CSM

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