Tuition fees can be beaten. Chancellor Phillip Hammond’s announcement that he will consider lowering them in the next Tory budget is an indication of his government’s enormous weakness. This vulnerability is clear both in a general sense and on the specific issue of fees.
The move by the DUP to back a Labour motion aimed at blocking the increases planned under the Higher Education Act indicated the huge fissures that could open up on the issue. It highlighted the potential for a mass movement to break this government.
The 8 June general election represented a revolt of working class people, but particularly youth and students. If on autumn budget day (22 November) Hammond does what he has suggested and moves to reduce university fees, it will be as a concession to that electoral revolt. But it will not be enough.
Under the current system, students beginning university this year face half a lifetime of debt. With interest rates on student loans now set at a staggering 6%, and with huge fees being combined with the abolition of what remained of maintenance grants, the amounts owed by today’s students are at record levels.
‘Debt time-bomb’
No wonder some commentators are talking about a ‘debt time-bomb’. Estimates indicate that a young person beginning their studies in 2017 will have to earn over £50,000 a year before they begin paying back the capital on their loan.
In austerity Britain, with its gig economy and low wages, this means most graduates will never come anywhere close to paying off their debts. In fact most will find that, despite handing hundreds of pounds over to the loans company, the amount they owe will continue to grow year on-year.
This underlines the importance of us demanding the complete abolition of fees and the reintroduction of grants for students. The promise to reintroduce free education was among the most popular in Corbyn’s manifesto. But this should also be combined with a pledge to write off student debt. Such a possibility was hinted at by Corbyn in an interview he gave in the lead up to the election, though he subsequently appears to have stepped back from it.
Diese Geschichte stammt aus der Issue 964, 28 September - 4 October 2017-Ausgabe von The Socialist.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der Issue 964, 28 September - 4 October 2017-Ausgabe von The Socialist.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Tory Infighting Escalates Workers' Action Can Oust Them
Socialist Party executive committee
Capita In Crisis: Bring All Outsourcers Back In-House
Shares in outsourcing giant Capita have collapsed following the company’s profit warning to shareholders. This follows shortly after its competitor Carillion sank into liquidation, and underlines further the fragile state of British capitalism.
Tragic Death Exposes Criminal Understaffing Of NHS
After the tragic death of a six-year-old child, Jack Adcock, a doctor and nurse have been removed from their professional registers and given two-year suspended prison sentences for manslaughter.
The Socialist Party Is Being Evicted - We Need You!
Building fund finance appeal launched
Tamil Youth March For Justice: Sack The 'Cut-Throat' Brigadier
Isai Priya National chair, Tamil Solidarity
Oxfam Scandal: We Need Democratic Aid And Working Class Solidarity
Sarah Sachs -Eldridge Socialist Party national organiser
Sadiq Khan's Bus Drivers' London Licence Doesn't Go Far Enough
Mo London bus driver
We Can Save Our NHS
Chatsworth nurse and Mansfield Socialist Party
Usdaw Victory - Socialist Party Member Amy Murphy Wins Presidential Election
Tesco worker and Socialist Party member Amy Murphy has been elected president of the shop workers’ union Usdaw.
Victory: Pontllanfraith Leisure Centre Saved
Caerphilly Socialist Party