Policy Exchange's loan information report tells parents to provide collateral for student loans
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Research has suggested that parents should use their property as collateral against student loans.
A report regarding university funding has concluded that middle-class parents should be forced to put up their houses as collateral against their children's student loans.Policy Exchange, the think-tank which released the loan information advice, has also suggested an interest-charging private loans scheme for wealthy students which would be repaid once they left higher education.
It is stated in the report that tuition fees must rise to a minimum of £5,000 a year in order to protect the quality of universities.
The report warned that the enviable reputation of British universities could be permanently damaged if more money is not unearthed.
Further to this, the Policy Exchange report explained that the student loan system must be adapted because the Treasury simply can not afford to cover the costs under the current system.
It said: "Student loans come with two major government subsidies attached - a zero real rate of interest and debt forgiveness after 25 years. The size of total debt outstanding is already £25 billion and predictions about the future size of the loan book are extremely worrying.
"It is expected to rise to £34 billion by 2010-11 and £55 billion by 2018. Particularly in a scenario where the cap on top-up fees is raised, the size of the loan book is set to spiral out of control."
According to a recent report by the Guardian, thousands of university teachers are going to be made redundant to soften the blow of government spending cuts.
Universities are also intending to employ postgraduate students rather than professors to teaching positions, alongside closing campuses and axing unprofitable courses.
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