A £1bn-a-year “black hole” in university funding means the Government’s new £9,000 fees regime is in danger of costing taxpayers more than the old system.
A report by the Higher Education Policy Institute (Hepi), a highly respected think-tank, says the Government has “seriously understated” the cost of its higher education reforms. As a result, ministers will have to consider drastic cuts in student numbers or ask graduates to make higher repayments.
The findings are deeply embarrassing for the Government, but particularly for the Deputy Prime Minister, Nick Clegg, and the Liberal Democrats, who ditched their election pledge to oppose rises in fees on the grounds that they were supporting an austerity programme.
VIRALITY 