Grants to be Cut – Students will Pay More for Uni
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Recommendations made to the government from education task force.
The number of students eligible to claim a government-funded grant for university education should be cut, according to recommendations from the Confederation of British Industry (CBI).
The lobbying group which works in tandem with the British Government to create and sustain prosperous business environments in the UK believes that in light of the recession, students should have to pay more for their university education, and fewer students should receive government grants.
The report, released today by the CBI Higher Education Task Force said that cuts had to be made as current numbers of students, along with levels of public funding were unsustainable. “New thinking is required on the financing, structure and mission of our universities if they are to sustain and strengthen their position in a rapidly changing environment,” the report, Stronger together – business and universities in turbulent times said.
Under the guidance of the CBI, the threshold for partial and full student grants would be dropped, forcing more families to pay for higher education. Currently, students from families earning less than £25,000 per annum are entitled to a full government grant. The CBI propose that this figure is reduced to families with an annual income of £17,910.
Students whose household income is less than £60,000 are eligible to apply for a partial grant under the current financial structure; but this too would be lowered to a threshold of just £38,000 if CBI recommendations go ahead.
Unlucky students could also be facing university fees of up to £5,000 a year and charged commercial rates on student loans, making higher education the privilege of the rich once again. Wes Streeting, the National Union of Students’ president told The Daily Telegraph: “At a time of economic crisis, when many hard working families are struggling to support their offspring through university I am astonished that the CBI should be making such offensive recommendations.”
The CBI’s director-general, Richard Lambert said that the proposed measures were tough but necessary: “We are not saying this is great news, this is not something we throw our hats in the air and delight about. If our backs are to the wall we are saying this is the place to start.”
What do you think of the proposed CBI changes to educational grants and funding? Let us know with a comment below.
