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£9,000 Tuition Fees Could Cost Taxpayer Millions: Damning Report Says Ministers Will Not Know For Decades If Shake-Up Has Actually Saved Money

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http://www.dailymail.co.uk/news/article-2611737/9-000-tuition-fees-cost-taxpayer-millions-Damning-report-says-ministers-not-know-decades-shake-actually-saved-money.html

  • Major report revealed today by leading body Institute for Fiscal Studies
  • Debts repaid slowly and cancelled after 30 years, so many never paid off
  • Report claimed new system will save only 5% on when fees were £3,000
  • But if fees are raised further in future, Government could be worse off

The tripling of tuition fees to £9,000 a year will save ‘little’ money and may end up costing the taxpayer millions more, a damning report reveals.

Ministers will not know for decades whether their shake-up of university funding has saved money, due to the ‘uncertain costs’ of larger student loans, the Institute for Fiscal Studies said.

It comes just weeks after the Government’s own figures showed the sum of unpaid student loans could exceed the income raised by the increase in fees.

But the report fails to realise that it will be "someone" elses problem which means it doesn't matter. So if the fees had stayed at £3k the taxpayer may in the long term be better off!

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The banks will most likely do well out of it....just saying. :blink:

Yes.

There are three reasons I can think of for introducing student loans:

- The ideology that it's best that consumers pay up-front for everything, even when they are not in a position to evaluate what they are buying.

- The fact that the involvement of the banks in administering and buying up the debt will be a source of profit

- It'll make it that much harder for kids from poor backgrounds to compete.

(Plus a fourth, it's what America does so it must be wonderful)

Any taxpayer savings will be lost in the noise, given the scale of the write-offs and the extra admin costs involved.

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Always bear in mind that our money supply must be borrowed into existence.

The user base (that's us) must ever be goaded into further debt.

Life's long term essentials - housing and education - are prime conduits for debt slavery.

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