Higher Education and Student Finance

Julian Lewis Excerpts

Tuesday 12th October 2010 Commons Chamber

[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.

[Dr Julian Lewis (New Forest East) (Con)]

Will it not be a sad day for academic meritocracy if and when able students from poor backgrounds are deterred from going to top universities because those universities are allowed to charge more than other universities in fees to students?

[Vince Cable]

Yes, the hon. Gentleman is quite right, and for that reason he will recall my comments about the need to be careful about following through the request of the Russell group universities for unlimited fees. There are serious problems with that. Of course there are advantages in terms of world-class universities, but we need to be careful about going down that road, and we will reflect further on it.