Good evening, Mr Willetts.
My concern is simple. Some years ago, fees were free for the whole of the UK. Then £1000 fees were introduced, as the system was 'unsustainable'. Apparently, after about five years, fees were tripled to £3000. Now, a few years later, fees are to be tripled again. However, the government will still give loans for the total amount of fees (which will differ depending on universities and courses, as no lift will exist), will give more loans and grants for maintenance costs, and will raise the threshold to pay back the loans from £15000 to £21000.
Therefore, my question is: how will the system be sustainable, if government will be giving three times as much money as it has been giving out under the current system? Even though repayments are subject to an interest rate, calculations have been done and many students would never have to pay it all back, as they would not earn enough to make high repayments and after 30 years all payments left are paid off.
I believe the new system is as unsustainable as the current one, and that in some other four of five years it would collapse again, leaving government with more serious debt.
How can the government ensure that this new system is sustainable in the long term?
Claims damages because he didn't get a first