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British universities should be more like the Ivy League

British higher education funding looks set for the biggest revolution in its history after Lord Browne, the former head of BP, suggested sweeping reforms. If the coalition government decides to implement his proposals, it will do away with the current £3,290 cap on tuition fees, and allow universities to charge whatever they want.

As a result, it's been estimated that the average student could leave university with £30,000 of debt. For those studying longer and more expensive courses, such as medicine, at more prestigious universities, that figure could be as high as £90,000. Students would start repaying when their earnings rose above £21,000 a year. The debt will be wiped if any of it is outstanding after 30 years.

In simple terms, this plan will transfer the cost of higher education from the taxpayer to the students themselves. Its critics say that the rise in tuition fees will leave a generation saddled with debt, force reluctant teenagers into choosing vocational qualifications, and have grave consequences for social mobility. Its supporters argue that drastic measures must be taken to stop our universities from falling into terminal decline.