Vice-Chancellor Professor David Phoenix welcomes Labour’s pledge to reduce tuition feesVice-Chancellor of LSBU Professor David Phoenix comments on Labour's pledge to reduce tuition fees to £6,000
Welcoming Labour's pledge to reduce tuition fees to £6,000 should they get into government, Vice-Chancellor of London South Bank University (LSBU) Prof David Phoenix said:
"Under the current system of £9,000 fees, a large number of students will not be able to pay back their loan. We are storing up problems for the future by creating a large hole in public finances.
"The Labour Party's proposal would reduce the level of loan write off to be dealt with by future tax payers, and should therefore ensure the sustainability of the Higher Education sector.
"Crucially for universities, Labour's policy will maintain the level of funding universities receive by making up the £3,000 shortfall.
"This more sustainable base gives a strong platform to consider postgraduate and part-time support which is going to be key to both social mobility and meeting the country's future skills needs.
"One of the biggest barriers to higher education is funding yourself through your studies. How can a student afford to pay for rent, bills and food when they are in full time study? For that reason I welcome the proposed £400 increase in maintenance grants for households with an income of £42,500 or less. I would push them to go further.
"Labour's policy makes it more affordable for students to attend university, maintains the level of funding for universities and avoids unmanageable loan write-off. Based on what we have heard today this looks good for students, good for universities and good for the tax payer."