iNews is reporting that the higher education system is “deeply unfair” and offers poor value for money to students, the taxpayer and the economy at large, a damning report from the House of Lords has warned.
Changes by successive governments has “distorted” the education system in favour of undergraduate degrees over other options, and has led to a collapse of part-time and flexible studying, the document adds.
The report, published by the Lords Economic Affairs Committee, also accuses the Government of “trickery” in the way it reports higher education funding.
It comes just days after a vast survey of 14,000 students by the Higher Education Policy Institute found just a third of students believed they were getting their money’s worth from their degree.
Peers from across parties warn that the current system is “hiding” the true cost of higher education as the debt will not appear on the public books for 30 years.
It states the Government in 2047/48 will have to find an extra £8.4bn to cover the cost of unpaid student loans from just 2017/18 alone.
The report also condemns the impact the funding system has had on part-time and flexible study at a time when being able to retrain is becoming “increasingly necessary to succeed in the modern economy”.
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