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The rise in tuition fees has lost the UK more money than if the Government had left them alone

The government has lost more money than it would have saved by not rising the tuition fees

In 2010, the government announced that it would be tripling the price of tuition fees from £3,000 to £9,000. There was a huge uproar and protest from students, old and new, but the Coalition goverment justified it as "fairer than the present system of student finance and affordable for the nation".

Well, it has been revealed today by the Guardian that that the Treasury will soon gain "zero financial reward" from the tripling of tuition fees. This is because the number of graduates failing to repay their loans is increasing so quickly that any savings made as a result of the higher fees will soon be rendered null and void.

45% of those who procure students loans will never pay it back (£10 billion). One of the reasons is that you have to be earning £21,000 a year to pay the loan back, where as before it was £15,000.

It goes further, according to research group London Economics, all the data suggests that the "economic cost of the 2012-13 higher education reforms will exceed the 2010-11 system that it replaced".

Well done.


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