Mind the Gap

Today Ed Milliband promised that he would cut university tuition fees by a third if elected and, crucially (as we learnt from Mr Clegg last time), this would be non-negotiable in any post-election coalition deals. There has already been a lot of cynicism in the media about this, and I am preparing myself for more of the same, but I think this cut in tuition fees would be a great thing.

A lot of the naysayers are saying that the promise is tokenistic, and that it wouldn’t make much of a difference to students. If a student takes a 4-year university course today, it will cost them £36,000. If they take the same course after the tuition cut it will cost them £24,000. They would save £12,000 (this isn’t taking into account other expenses such as accommodation). That’s simple mathematics. £12,000 is a lot of money. If a person doesn’t…

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