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1ST DEC 2008
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Students thinking of voting for The Conservative Party, should read further, they are against Top Up Fees but would raise the repayment threshold for student loans
In brief:
* The Conservative Party is categorically against so-called top-up fees
* They would raise the repayment threshold for student loans to £20,000 from the present £10,000
* They would fund Universities by means of Endowments rather than annual state grants
The Policy - Universities
The Conservative Party believe that higher education should be accessible, irrespective of the ability to pay. They have unveiled radical reforms of the financing of universities.
These proposals involve giving endowments to universities to replace state funds and they consider this will provide a major boost for students.
Shadow Education Secretary Theresa May said it would allow universities 'to grow as world renowned centres of excellence without the constraints of government interference.'
The Tory party proposed reforms will also ensure that students will not have to repay loans until they reach a higher salary, give them a tax break on their repayments, and address their fears about the issue of top-up fees.
Under their proposals, universities will receive substantial funds from the sale of State assets - such as analogue wavebands - which they can then invest and fund themselves through the income. This will free them from reliance on annual Government grants.
The Conservative Party would endow universities with £3.5 billion initially, and an additional £1.6 billion every year. They would also make it a condition of endowment that universities are not allowed to charge top-up fees to students.
The Policy - Students
The Conservative Party would offer graduates a fixed period for the repayment of loans of at least ten years, without pre-payment penalties. They would provide an estimated £3,500 a year tax allowance (worth around £700 a year) for ten years, which would aim to benefit graduates who are paying off restructured student loans. They would also raise the threshold at which graduates begin paying off their Loan to £20,000 �?? twice the current amount.
They also propose to ensure that graduates continue to deal with The Student Loans Company (SLC) rather than financial institutions.
These provisions, they suggest, will leave many graduates better off. A graduate earning 80 per cent of average graduate earnings will pay around £200 less according to Tory party figures.
They say
"We have listened to students who have told us they don't want to repay their loans at the beginning of their careers. We have accepted these ideas and delivered a policy that will ensure a better deal for graduates."
(Theresa May, Shadow Education Secretary)
Related Articles
The Liberal Democrats Policy
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