On Thursday, 29 November 2018, the Higher Education Policy Institute (HEPI) publishes Fairer Funding: The case for a graduate levy (Policy Note 10) by Johnny Rich, which outlines a radical new approach to funding higher education.
In order to balance the cost more fairly between students, taxpayers and employers, a new paper released by the Higher Education Policy Institute (HEPI) has proposed that instead of students borrowing money to pay for tuition, businesses should make a greater contribution to how Higher Education is funded.
The paper comes in advance of the Augar Review’s report in the new year on the future funding of Post-18 Education and Funding. It also comes as the Office for National Statistics prepares to announce possible changes to student loan accounting rules that could create a black hole in the Government’s budget deficit plans.
Education is a social good, and the responsibility for funding it should be shared across all of society.
Amatey Doku, Vice President Higher Education, responding to the report:
“We frequently hear about the premium imparted by education onto the individual, but not always as much about the contribution it makes to wider society. This report is therefore a step in the right direction: a recognition that business benefits significantly from the skills provided by tertiary education, and the start of a serious conversation about how those beneficiaries should contribute properly to that investment.”
“We need to broaden the debate in this fashion if we are to find a new funding settlement that works for students, the public, and the economy, particularly with the findings of the Post-18 Funding Review due in a few weeks’ time.”
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Amatey Doku is available for further comment. For further information, please get in touch with the NUS press office on 07866695010 or firstname.lastname@example.org.