NUS has welcomed a report by the university think tank million+ which shows how tuition fees could be abolished and student debt reduced by at least £10,000 through the introduction of a graduate tax.
The report shows that a graduate tax of 1 per cent levied on earnings over £15,000 would mean that fees could be removed for both full-time and part-time students and the Exchequer and universities would be no worse off than at present and calls for serious consideration of the scheme as the Browne Review of funding concludes.
The report follows a call by Business Secretary Vince Cable to find a fairer alternative to the “poll tax” of tuition fees and as Lord Browne prepares his report making recommendations on the future of higher education funding and student support.
Aaron Porter (pictured), NUS President, said:
“NUS very much welcomes this report which shows that that fees could be abolished and replaced by a graduate contribution that would be much more progressive and would remove the threat of higher fees and the introduction of a market into higher education.
“It is encouraging that some university vice chancellors are willing to genuinely rethink university funding to ensure that students are properly supported and that financial contributions are determined by real earnings.”
“These proposals are both fair and sustainable. There is absolutely no excuse for Lord Browne and the Government not to seriously consider them as a genuine alternative to the broken and discredited system of tuition fees.”