Both Chuka Umunna and NUS are calling for an end to student fees charged up-front and are instead backing alternative plans set out in the Funding Our Future campaign, with graduates contributing according to the benefit they have gained from their time in higher education.
Crucially, this would mean students would not have to pay until they start working; the graduate tax would only be levied once an individual earns over a threshold of £15,000, and payments would be spread out and therefore be more affordable.
The graduate tax proposals would generate more funding than the current fees system and would allow for the creation of more university places as well as increased financial support for poorer students.
NUS President,Wes Streeting, commented “NUS is delighted to receive Chuka’s backing on the number one issue facing students ahead of the next general election.”
“With a review of the current tuition fees system due to be announced within a matter of weeks, this intervention could not have come at a better time.”
Chuka Umunna said “Given the advantages that a university education gives graduates, it is right that students should contribute towards the cost of going to university. A graduate tax linked closely to earnings is the simplest and fairest way of achieving this.”
His announcement comes as the third Town Takeover starts today in Sheffield.
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