Higher Education Funding

Andrew Stephenson Excerpts

Wednesday 3rd November 2010 Commons Chamber

[Mr Willetts]

I hope that the hon. Lady will join me in sending the very clear message to young people that the system is not like having a credit card debt of £20,000. It is a graduate contribution scheme in which there is no repayment unless someone earns more than £21,000, and, if for whatever reason, they become unemployed or withdraw from the work force during that time, they will not have to make any repayments. It is far better than conventional debt, and it is important for all of us in all parts of the House to make that clear.

[Andrew Stephenson (Pendle) (Con)]

How does today’s announcement sit with the Government’s wider approach to higher education, such as the funding of the science and research budget and other university income streams?

[Mr Willetts]

In the comprehensive spending review, we were able to secure a very good settlement for science and research, protected with a ring fence. The combination of that ring-fenced support and these reforms offers a very good, strong prospect for our universities.