Vice chancellor calls for student loan system to be reconsidered

Tue, 25 Feb 2014

The vice-chancellor of Canterbury Christ Church University has†argued the student loan system needs to be reconsidered.

According to the Times Higher Education, Rama Thirunamachandran has suggested a loan system "underpinned by the private sector" could be a more effective solution.

"There probably needs to be a substantial rethink about how higher education is funded in the UK," he said.

He is thought to be the first head of a UK university to publicly suggest the idea of using the banking system - as opposed to government-funded loans - to provide finance for students. He insisted any lending from the private sector would have to take place within a semi-regulated environment.

Mr Thirunamachandran added it was essential for policymakers to take another look at the best way to spread out the costs of studying at university between both individuals and taxpayers.

The sale of the student loan book has faced mixed opinions since its unveiling. Canterbury's vice-chancellor added his voice to the number of people who believe the actual amount needing to be repaid is higher than the government's estimation.

He remarked: "The numbers donít add up."
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