Something needs to be done to reduce the number of university places on offer, thus increasing competition. Over the past 20 years, there has been an explosion in the number of degree courses on offer and many of them equip the people who have invested their time and money for nothing useful.Labour is suggesting it may not just stop uni tuition fees,it may cancel all student debt. That is not so expensive that may appear,It is said that only 77% of student debt will ever be collected.
The students loan company is very poor at collecting student debts.
The interest on the loan is currently 3% over RPI,6% ,this interest is applied even when the student is at uni,that seems crazy.
Maybe a complete rethink of the student loan system is needed. Maybe only charge £3000 per student year,charge no interest,but develop a much more robust system to collect the debt.
Cancelling all student debt may cost less than Brexit,it would be a big vote winner amongst past students.
KudosDave
It seems to go back to the Blair era when the university bonanza started. I guess it was a political "feel good" exercise, cynically calculated to cause proud mums and dads to "well up" at the graduation ceremony and announce those immortal words "our Jade / Kyle is the first one from this family to go to university." The truth in so many cases is that Jade & Kyle were never academics and never will be. They are now saddled with a minimum £27000 debt and a useless degree which required no more effort to attain than simply turning up for 50% of the 2.5 hour per week lecture time.
Of course the other great con is that occupations which used to have training paid for by the employer, have now suddenly become degree level subjects. The NHS are into this. A degree in nursing, a degree for medical technicians and soon a degree in policemaning. These are not degree subjects, it's a con to make people pay for their own training.
The bottom line is that a few people are academically gifted and a lot aren't. Therefore, we need fewer university places, maybe with free tuition, and lots of good quality vocational training for the shitmunchers. It's the only way forward.