David Cameron speech on the future of higher education funding

David Cameron speech on the future of higher education funding; David Cameron speech SOT - Now while it's clear to me that a graduate tax is wrong, it's not surprising that some instinctive supporters of a graduate tax, support our plan. People want a graduate tax because the poor should pay less, the rich should pay more and the system should encourage people to aspire to go to university. Our plan does all these things. Let me explain - clearly - what we are proposing. We are taking forward the main recommendations made in the Browne Review - let's remember, a Review that was set up by the last Government, had cross-party support from Conservative and Labour, and that looked at all the evidence. In that Review, Lord Browne advocated a Graduate Contribution Scheme. So we will lift the current 3,290 pounds a year cap on tuition fees to a basic threshold of 6,000 pounds. In exceptional circumstances, some universities will be allowed to charge 9,000 pounds. That's the absolute maximum. These are the headline figures, and they are the figures that I know people are concerned about. But - and this is a major but - neither students nor their parents will pay a single penny upfront. This is really important because I know a lot of people are confused about this. Not a single penny will leave their bank account until after they have left university and got a job where they earn more than 21,000 pounds a year. Then - and only then - will they start repaying, at a rate of nine percent of their income above 21,000 pounds. And here are some other important things people need to know. If at any time they are unemployed, take time out to bring up children, or take a lower-paid job so their income falls below 21,000 pounds, they will stop repaying. And after thirty years, all debts will be written off. With our new system, the poorest quarter of graduates will pay back less overall than they do currently. And everyone - everyone will pay less per month than they do ...