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‘LIFETIME OF DEBT’ FOR STUDENTS

HOPE CHANCELLOR’S WORDS OF WARNING

According to Professor Gerald Pillay, the Vice Chancellor of Liverpool Hope University, students may face a lifetime of debt.

Tuition fees look set to rise due to the soaring demands placed on universities by the government. Targets have been set to achieve a 50% increase in the number of places offered to young people, which academics argue is impossible without an estimated £10 billion funding increase.

Students in the Merseyside area have an estimated average debt of £15,000 when they graduate, a burden that could force talented students into lower paid jobs in order to start clearing their debts.

The government plans to increase the annual fee to as much as £6000, two times the amount students currently pay.

Pillay has expressed his concern, warning that students could be left with debts lasting well into their working career. He told a council researcher: ‘This will lead to even greater debt which for some graduates will not be repaid during their working life, which could result in the taxpayer footing the bill.”. The proposed fee levels would place the minimum student debt at £18,000, not including the added expense of food and accommodation, which are also on the up.

These daunting statistics could deter students from university life, as for many, the growing cost would far outweigh the rewards of academic achievement. The Vice Chancellor claims that it will lead to elitism in education and a decline in students from less privileged backgrounds attending university.

Whilst transferring financial responsibility for tuition fees onto the student body would ease the pressure on the government to provide better funding, it could have a devastating effect on the higher education system.

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