University challenge

Universities UK, a sector umbrella body, has released a report this week arguing that students should pay a great deal more for higher education. This is the right idea, says the Financial Times.

Financial Times

… Universities UK, a sector umbrella body, has released a report this week arguing that students should pay a great deal more for higher education. It is right.

Students should pay for their own education. Different degrees at different institutions should cost different amounts. These two principles have been accepted in Britain. They were, however, politically controversial and, as a messy compromise, parliament imposed a cap on what universities could charge. …

[I]n order to raise standards, universities should compete. And as part of their competition they should be free to charge different amounts. The cap should rise – and by more than the £7,000 limit suggested by Universities UK. …

However, competition between universities requires a great deal more openness with prospective students. Institutions are needlessly vague – and occasionally dishonest – about who will be teaching what and how frequent lectures and seminars will be. Too little is known about what specific degrees from given universities do for earning potential. Universities should soon be able to charge undergraduates more for their education, but students deserve more in return.