Business Secretary Vince Cable (Inset: Education Officer Joe Oliver)
The Students’ Union Education Officer has met the announcement of a potential graduate tax for students, replacing the current system of student loans and tuition fees, with enthusiasm.
A possible graduate tax, declared by the Business Secretary Vince Cable, would have students paying for their degrees via the tax system rather than through government subsidized loans, ending the current system of tuition fees.
Cable said that higher earning graduates would pay more than those on lower incomes, with the tax being paid over a set period rather than a whole lifetime.
Education Officer Joe Oliver has showed support for the idea alongside some scepticism.
Oliver said: “I welcome the idea of a graduate tax as a potential improvement to our current flawed funding system, and it is immeasurably better than the nightmare scenario of simply jacking up fees.
“The core idea of a graduate tax is radical, but his speech was rambling and thin on practical details.
“I’d like clarification of what any changes would mean for students studying at Sheffield during the transition between two systems, and what they were paying.”
Cable also revealed a series of possible changes to higher education, including two-year degrees, more students living at home and more flexible, part-time courses along with calls for private institutions in higher education.
Sheffield Central MP, Paul Blomfield, the former general manager for the Students’ Union, said: “Behind the graduate tax headlines, there are worrying signs of the Government’s real intentions.
“They are targeting universities for some of the deepest cuts, they are reducing places when demand is growing, and they are encouraging the development of private universities.
“For me there are three tests for any new funding system. Will it enable all students who can benefit to go to university?
“Will students be able to choose their university on the basis of ability, not cost?
“Will it provide our universities with the funding that they need to maintain the quality of teaching and research, and to compete internationally?
An independent review of university fees and funding is being carried out by former BP chairman Lord Browne is due to report in the autumn.
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