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Education fees could rise to £10,000 a year

The UK government will this week receive a report on the UK university fees system which is likely to recommend loosening the current cap of £3,290 on tuition fees and allowing universities to charge anywhere up to £10,000. There will also be a recommendation that universities themselves are allowed to keep all of the annual income which tuition fees provide and those who go above the £10,000 pro forma limit would need to transfer a portion of this into a central fund to support students from less wealthy backgrounds.

However, there is a belief that under the proposed system we could see a number of middle-class students leaving university with debts which could potentially top £80,000. This will be a massive drag on their finances and their careers for many years after they leave the University and could push many people over the edge. So what are the options?

There has been major talk of a graduate tax which would see those who move from university education to full-time employment paying back a "small" percentage of their income in the future. However, this is a very difficult model to price and could see those in higher paid jobs effectively supporting and subsidising those who have been to university and perhaps decided to take a relatively low paid job compared to their qualifications.

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