Now this is very sad, I know, but I thought I’d make a table comparing the different tuition fee systems. A lot has been made of how most people won’t actually pay back most of their debt- so what fees are they effectively paying, then? I’ve worked out these effective yearly tuition fees for people on different salaries in today’s money with monthly payments in brackets.
|
Salary
|
Old System
|
New System
|
6,000 fees
|
|
<15,000
|
Free education! | Free education! | Free education! |
|
16,000
|
900 (7.50)
|
Still free | Still free |
|
18,000
|
2,250 (22.50)
|
Yep, free again | Free |
|
20,000
|
3,300 (37.70)
|
Free | Free |
|
25,000
|
3,300 (45)
|
3,600 (30)
|
3,600 (30)
|
|
30,000
|
3,300 (75)
|
8,000 (67.50)
|
6,000 (67.50)
|
|
35,000
|
3,300 (112.50)
|
9,000 (105)
|
6,000 (105)
|
It seems that the new system is good for anyone earning less than 24,000 as a graduate- that’s a good bit over the median salary of 20,000. The new fees suck if you earn more than that and the 6,000 fees proposed by Labour only benefit those earning over 27,000. Monthly payments are easier for everyone on the new system.
That’s right, the Tory system is good if you’re poor, the old Labour one good if you’re richer than average and the proposed Labour one good if you’re really rather richer than average. It’s a topsy turvy world…
roryfenton.com 