TAXPAYERS are squandering millions of pounds on students who can’t pay back their fees, new analysis shows.
Three-quarters of all degree-holders at twenty universities aren’t earning enough within five years to start re-paying debts.
Taxpayers are spending millions on students who are unable to repay their student loans, new analysis shows[/caption]
Courses where students don’t earn the £25,000 threshold soon enough are slammed today by Ministers who are demanding changes.
The loan repayments aren’t met after psychology courses for more than a fifth and forty per cent for creative arts.
Education Secretary Damian Hinds says the startling figures should be a “wake-up call” for universities.
The comments come ahead of the independent Augar review into post-18 education and funding which will be published this week.
The review is expected to recommend fees of some courses slashed to £7,500 from the full £9,250.
Mr Hinds is calling on further education institutions to revamp or drop courses delivering poor value for money.
Students are also being asked to consider alternatives to degrees with technical education or apprenticeships.
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Mr Hinds said: “With students and taxpayers sharing the cost of higher education it’s right that we challenge those institutions which could appear to be more focused on ‘getting bums on seats’ than getting students into high quality courses worth paying for.
“That’s why I want universities to be brave and ask themselves if they’re running courses that really help students gain the skills they need for the workforce of tomorrow – if they’re not they should improve them or end them.
“But if universities think other options like apprenticeships or technical education are a better fit for a student, they should give young people that advice rather than put them on a course that isn’t providing what they need for a bright future.”
Education Secretary Damian Hinds said the figures should be a ‘wake-up call’ for universities[/caption]
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