Student Loans

Lord Addington Excerpts

Wednesday 13th December 2017 Lords Chamber

[Viscount Younger of Leckie]

My noble friend, who is referring to degrees that were shorter than today’s degrees, is right. That is one reason why this House was very keen to promote the idea of accelerated degrees, which we are consulting on, whereby they are undertaken in two years at less cost per year than they would cost in three years.

[Lord Addington (LD)]

My Lords, does the Minister not agree that degrees have become totally monetised and have a value attached to them? Would not it be a good idea to take a long, hard look at some form of graduate tax that would do away with the idea of one huge debt hanging over those who undertake a degree?

[Viscount Younger of Leckie]

The noble Lord is right that a graduate tax was considered as part of the reforms of several years ago. We do not think this is the right approach but we do think it right that students should be able to take out loans, which, I am sure the noble Lord will agree, further the aim of having more disadvantaged people at universities.