Under the Coalition Government's proposals:
1. All students will repay less per month under this Government’s policy than they currently pay.
2. The lowest-earning 25% of graduates will repay less under this Government’s policy than they do now.
3. The top-earning 30% of graduates will pay back more than they borrow and are likely to pay more than double the bottom 20% of earners.
4. Over half a million students will be eligible for more non-repayable grants for living costs than they get now.
5. Almost one million students will be eligible for more overall maintenance support than they get now.
6. Part-time students will no longer have to pay up-front fees, benefiting up to 200,000 per year.
7. There will be an extra £150m for a new National Scholarship Programme for students from poorer backgrounds and we will introduce tough new sanctions for universities who fail to improve their access to students from such backgrounds.
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The issues involved are much bigger than these figures suggest. The major problem with the government's proposals is their total abandonment of government funding for University subjects outside of science, maths and engineering. This is an entirely philistine approach to Universities, and many Arts and Humanities departments will close. Liberals did not sign up for this and should oppose it. For hundreds of years governments have supported the Arts in Universities, and now it is all suddenly scrapped. If the economic argument is the only principle for deciding the worth of something, then it is surely an indication that British culture is seriously in decline. See Stefan Collini's article for a detailed analysis.
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