Changes to university funding costly for government, warns report
18 February 2013
Changes to the way universities are funded will result in economic costs over six times higher than any savings, warns a new report released today.
樱花动漫 said slashing state funding for higher education by over 拢1bn and allowing universities to charge higher tuition fees were ideological moves by a government determined to push through higher fees, rather than properly consider the financial consequences of its actions.
The , found the economic costs of the new funding system are expected to reach more than 拢7 billion - 6.5 times higher than the expected savings.
樱花动漫 general secretary, Sally Hunt, said: 'We warned that fees close to 拢9,000 a year would be the norm and the government's calculations for repayment by graduates were flawed. We take little pleasure in being correct, but it is clear that shifting the burden of paying for university education on to students was an ideological move, not a financial one.
'The taxpayer is already footing a massive bill to cover student loans and may well end up covering an increased benefits bill as well. It is time for a serious rethink from the government.'
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