The tuition fees storm has generated a lot of words but very few have actually looked at the new policy. Lib Dem MP’s have come under critisism for not keeping the pledge they made. I too have criticised them for not voting against the fees increase. They were unwise to sign the pledge in the first place, but having made a promise they have to keep it.

Part of the pledge was to introduce a fairer more progressive policy for university fees and funding. I believe that the new policy meets this part of the pledge. The bottom line, I believe, is that if a graduate under the new system earns around £25,000 per year they will pay back their fees at £7 per week. The loan expires after 30 years and if their earnings stay at a just the minimum level over the 30 years they will pay around £11,000. Only slightly more than the £9,000 they will currently have to pay up front. There is also extra provision for grants to encourage students form poorer backgrounds.

I can therefore see why some MP’s decided that this was a policy that they should support. It will also show them that pre-election promises are very dangerous.