Imperial students should support the Browne Review’s recommendations

The ailments that afflict UK universities are well documented. A rapid increase in the number of students wishing to go to university, combined with declining government funding has left our higher education institutions short of cash and a generation of young people denied the opportunity to study at a higher level.

The argument about who should fund universities has been long settled. We have all agreed that, as it is the individual who benefits from a university education, the individual should also pay for it. Conflating Browne's recommendations with the need to cut the deficit ignores the vital truth that the current debate is all about the need to push the financial burden onto the individual.

So, a graduate tax or unlimited fees? Browneís recommendations are a welcome compromise between the two. They assuage the fears of students like those at Imperial who are worried that a graduate tax would unfairly penalise them for being high-achievers. And ideas like raising the level at which graduates begin paying off their debts, encouraging universities to give more bursaries and a lower rate of interest for low-earning graduates also ensure that students from poorer backgrounds are not put off.

But ultimately, any debate about university funding comes down to one word: debt. Obviously higher tuition fees will result in much larger graduate debt but the difference between this and other funding models is simply a matter of perception. Consider the amount that you would pay through a graduate tax as a lump sum and suddenly you have a mountain of student debt; conversely, think of your tuition fee debt as a monthly deduction to your salary and doesnít it suddenly feel like youíre being taxed? Although your student debt may take some time to pay off, it is the friendliest debt you will ever incur.

The benefits derived from a university education (both financial and personal) are substantial. The need for direct and increased university funding is urgent. And the realistic impact of substantial student debt is far less than some would like to portray. Given these three truths, the Browne Review's recommendations are useful, thorough and the ideal medicine for our ailing higher education system.