Preamble – please see our notes under Education – Schools.

A personal note to illustrate why University education must be free as long as the course is passed and a graduate finds a job.

In 1992 my wife and I bought a 3 bedroom semi for £80 000 on a 25 year mortagage, when we had just reached our thirties. We had no debts. I had £5000 saved and my wife had £ 20 000 saved. I was earning £18 000 pa and my wife £ 22 000 pa. I had previously lived in a bedsit at £45 per week.

The house cost us twice our combined annual salaries, subtracting our savings it works out at 1.35 of our annual salaries.

The house is now worth £450 000.

Our three tenants (plus our daughter) are in their mid twenties and earn a combined salary of £ 100 000 pa. Their combined University debts are £160 000. If they decided to live in a commune, they could all buy the house together at 4.5 times salary on a 40 year mortgage. If they added in their university debts their total starting debts would be £610 000.

Lets be realistic – the commune won’t happen.

If you are a recently qualified Vet – your varsity debt is £ 80 000. If you are a doctor it is £ xxxxx.

These debts are the greatest travesty any government can inflict on a younger generation. But an even greater betrayal follows: £890 000 000 of student debt was sold to a private equity company for £160 000 000. Their job is to harass, hound, profit and collect the original debt of £890 million, while our Westminster representatives crow about good value for money and pragmatic decision making..

Labour and the Conservatives write off student debt but then sell it for collection at full value to private equity.

We also have the mad situation where foreign students are allowed to take out loans on the same basis as our UK students. The net result of this stupidity is a complete loss of £1.2 billion, as these students head home with a good degree and no intention of paying for the education provided for by you – the UK tax payer.


  1. All University tuition fees will be charged at £3000 p.a. Free once the student has passed his course in the time allotted and has found permanent employment. Dropping out or failure will result in payment of all fees incurred.
  2. All outstanding government held student debt will be written off.
  3. All privately held student debt will be written off as follows: Total paid for the debt, less money collected equals payout. If more money has been collected than paid for the debt, a 10% gross profit will be allowed and the scheme simply shut down. If the firm has a tax haven affiliation or corporate structure charging high marginal loan rates greater than base plus 2%, the scheme will be shut down once the money collected equals money paid with no scope for negotiation. If any excess payment is due it will be funded by the Bank of England.
  4. All University PFI will be paid off or cancelled.
  5. All foreign students (with no exceptions) will be required to pay £ 9000 p.a. for tuition fees. All fees to be paid up 1 month in advance of the academic year. No government UK loan facilities will be offered to any student without a UK passport, UK address, and a UK N.I. card.