Monday, September 03, 2007

Labour break another promise to students

As a 16 year old I was promised by the Labour candidate (now MP) in my parents constituency that it would be a 'cold day in hell' before the Labour party introduced tuition fees for higher education.

I paid £1000 a year for my BA.

As a student protesting against the possibility of Top-Up fees the local Labour students insisted that there 2001 election manifesto meant they wouldn't happen.

I graduated from my MA on the day of the second reading of the Higher Education Bill that introduced them. (my supervisor offered to join me in a sit-in on the stage as I got my degree certificate off him, unfortunately I bottled it).

When I took out my Student Loans I was assured that I would only pay interest at the rate of inflation. On Saturday the interest rate doubled to 4.8%. I can't find any commonly used measure of inflation that is anywhere close to 4.8% at the moment. RPI is 2.7% a year and CPI is 1.9%. Yet another broken promise from Labour.

1 Comments:

Blogger Hywel said...

Apparently it is based on the March RPI figure which was 4.8%
http://money.guardian.co.uk/weekly/story/0,,2109101,00.html
(the figure you quoted is I think the RPIX which excludes mortgage repayments)

I'm happy to be shouted down on that as knowledge of the differing measures of inflation is far from my strong knowledge area :-)

11:13 pm  

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