University Guides July 22, 2010

• When the dust settles, how will students fund their studies in future?
  If you’re feeling confused by all the conflicting reports over the future of university funding that isn’t surprising.  Last week, Universities Secretary Vince Cable said the coalition was keen to investigate the idea of a variable graduate contribution or tax. That was quickly followed by senior Conservatives saying the government was unlikely to back this idea.

   

  Money is certainly needed – this year we are told that the demand for university places has risen by 70,000, so a total of 660,953 people, including foreign students, applied in time for the 30 June deadline to start full-time undergraduate courses at UK institutions this autumn, compared to 592,312 last year.  Now some estimates say there will be no places for as many as 200,000 applicants.  Most authorities agree that having a greater proportion of young people going on to tertiary education is a good thing but that requires funding.

  Vince Cable outlined a possible system where graduates would pay an increased rate of taxation, which would be higher for higher earners.  Meanwhile Lord Browne’s review of fees, which is due to make its report this autumn, is expected to lift the cap on individual universities charging more, so fees could go up to around £7000 a year. 

  Other moves to cut costs have also been mooted – two-year degrees, more students studying part-time, by distance learning or living at home, and expanding the role of private institutions.

  For a fuller discussion of the questions and answers on what the situation is now and could eventually be, see the BBC’s feature Q & A on University Funding.  The Complete University Guide’s own pages on finance will help to give you a picture of the current funding possibilities for students who are looking at going to university this year.