'A bad deal for everyone': It's time to rethink tuition fees

17 September 2024, 15:42

It’s no surprise that there are calls for a drastic uplift in tuition fees, as the funding model for higher education is failing.

Universities absolutely need increased investment, but the current student finance system is counterintuitive and impressively manages to be a bad deal for all three parties - the government, universities, and students.

Unfortunately, addressing the challenge of tuition fees has become a political hot potato. Since the furore after the tripling of fees a decade ago under the Tory-Liberal Democrat coalition, no party has had the confidence to present a clear plan for HE funding, as they know it's an issue that's very sensitive to voters.

What we need now - what we have needed for over a decade - is courageous leadership and a clear approach so that one of our country's most valuable sectors doesn’t suffer.

When we talk to students about fees they want to see a solution that presents a model that's fair, equitable and ensures that higher education stays accessible to anyone who would want to benefit from it.

The simplest solution would be recognising fees need to increase year on year in line with inflation so the sector doesn't face real-term cuts, and we fall into this recurring cycle of having to suddenly heave up fees an exorbitant amount every few years, which causes stress, unease and creates a feeling of unfairness between cohorts.

The current model fails on equitability, as those wealthy enough to pay for their education upfront often end up paying less than most graduates. It does generally, on the positive, succeed on accessibility as universities are free at the point of use for most students.

But the interest rates on fees mean graduates are left with insurmountable debt that will effectively operate as a tax for the entirety of their careers. Whether the size of fees and debt is accurately understood by prospective students, it is creating a barrier to people wanting to undertake a degree - and that is a critical problem.

Our universities need improved support and investment. The funding model for higher education must be reviewed to ensure the long-term sustainability of the sector without compromising on staff or student experience. And that review needs to be acted on.

The last review -  the Augar Review published in 2019 - failed to have the impetus it needed and already feels, for the most part, outdated.

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Dom Smithies is the influencing and advocacy lead at Student Mind, the UK's student mental health charity.

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