Money at the Mo: Increase in tuition fees
At the end of each month thethriftdiaries.com looks at current money issues that are affecting students and graduates.
What is it?
The cost of university is going to increase for future students. The government will allow universities to charge the maximum fees of £7000 per annum for courses.
Why?
Higher education institutes like universities have always had funding issues but have always been able to receive subsidies from the government. With the new government the need to cutback public spending means that universities will no longer receive as much funding and may even receive no government funding for certain courses. The costs of university will therefore be reaped by the students attending.
How will this affect me?
Uncertain at present. If you’ve already started university it is unlikely that the fees will be imposed on you. However, it has not be clarified when the new fee system will be put in place so current students may well be affected by an increase in their yearly course fees.
You can read more about it here.
