Higher Education and Student Finance

Heidi Alexander Excerpts

Tuesday 12th October 2010 Commons Chamber

[Vince Cable]

Yes, indeed, and that is a very important consideration. Of course we want women to have equality. The gender gap has got to be closed, and the issue of taking time out is an important part of that. Of course, during the period that women—or men, in certain circumstances—take out of the labour force to care for their families, the real interest rate would not accrue.

[Heidi Alexander (Lewisham East) (Lab)]

Like the Secretary of State, I was the first person in my family to go to university. The key thing is that I am not sure that I would have gone if I faced the debt that is likely if the general thrust of Lord Browne’s report is followed, as the Secretary of State said it would be. What reassurance can he give young people from backgrounds like mine that they will not be unfairly disadvantaged by the reluctance of his Government to invest properly in higher education?

[Vince Cable]

The Government are going to invest in higher education. It will be properly funded as a result of this package. I make the point to the hon. Lady again—I made it in my statement—that the average university graduate earns cumulatively over a lifetime well over £100,000 more than someone who chooses not to go to university. That is a substantial graduate premium. We need to communicate to many people in disadvantaged communities that it is in their interests to pursue higher education. We will make sure through the careers service, a proper system of advice and the support that we give in maintenance that they have that opportunity.