The Browne Report on Funding 3rd Level in England – Will it influence the fees debate here?
The Brown Report is now available. It proposes a deferred payment model to part-fund third-level in the UK.
•• Students pay nothing up front. Graduates only make payments when they are earning above
£21,000 per year.
•• Payments are affordable – 9% of any income above £21,000.
•• If earnings drop, then payments drop. If graduates stop work for whatever reason, then payments stop
•• The payment threshold is reviewed regularly to bring it into line with growth in earnings
•• The interest rate on the loans is the low rate that Government itself pays on borrowing money. There is a rebate for low earners.
•• Any balance remaining after 30 years is written off
The report is a model of clarity. Will the Hunt Report be similar?