A group of 17 university students’ unions have called for a 30% reduction in their tuition fees (worth £2,700) to compensate for the loss of education caused by the Government’s lockdowns. They are willing to accept higher interest rates on their loans in exchange for this discount. The Guardian has the story.
[The group,] led by the London School of Economics and the University of Sheffield, [has] written to the Education Secretary, Gavin Williamson, and the Universities Minister, Michelle Donelan, to propose that the Government funds a 30% tuition fee rebate for all students this year by increasing interest rates by 3% to 6.2%, meaning it would be repaid only by the highest earning graduates.
The letter stated: “We are asking for immediate financial justice for Covid-affected cohorts of university students. In an ideal world, education should be free; however, in a year when students are calling for compensation on their fees, we have created a fiscally neutral solution to adjust tuition fees, supporting students with a one-off payment.”
The student leaders, who are all from research universities in the Russell Group, based their calculations on modelling from the London Economics consultancy. It suggested that increasing the interest rate on student loans would mean that the £1 billion cost of the 30% rebate would be paid for by high-earning graduates, because loans are written off after 30 years, rather than the taxpayer or graduates on low incomes.
The average male graduate would pay £6,500 more in loan repayments over their lifetime, with the very highest earners paying up to £29,800 more, but female graduates on average salaries could repay the same amount because their lifetime earnings are lower.
The pandemic meant most students were barred from their campuses from the end of the autumn term until May 17th, so they missed out on in-person teaching, access to facilities such as libraries, and social and extracurricular activities. Many were frustrated to find themselves unable to access rooms in halls of residence and flats they had already paid for…
Some students have voiced their anger with universities this year through rent strikes, building occupations and socially-distanced protests…
A Department for Education spokesperson said: “Universities have a strong track record in delivering excellent blended tuition, and we have been clear from the start of the pandemic that the quality and quantity should not drop.
“The Office for Students will be monitoring to ensure this is the case, and universities should be open about what students can expect.”
Another letter sent by a group of 19 students’ unions told the competitions watchdog in April that students have been “mis-sold” degrees. They demanded tuition fee refunds. Prior to this, the Government responded to a petition asking for a reduction in fees saying: “[We are] not considering a reduction in maximum fee levels to £3,000.”
The Guardian report is worth reading in full.