Displaying items by tag: tuition fees

Pray for education ministers as they consider reviewing the tuition fees and student loan system, after a damning report revealed that 75% of students will never fully repay the loans (which leave graduates with average debts of over £50,000). Sources close to Jo Johnson, the universities minister, said that the interest rate on loans might be reduced. She indicated that the situation was being looked at, along with a review of higher education funding as promised in the Tory manifesto. Labour education minister Lord Adonis, who originally promoted tuition fees, said that the annual £9,000 charges should be scrapped after becoming a ‘Frankenstein’s monster’. Adonis accused the government of running a ‘Ponzi scheme’ which left graduates with massive debts and the government with a black hole in public sector finances. Other critics said that the government should save money by withdrawing loans for degrees that lead to low salaries.