Explaining what the Browne reviews means

What the Browne review means for you put as simply as possible

First off, if like me you go to university right now then you are not affected, the reports proposals only apply to those who have yet to apply to university. So on a purely selfish level anyone who has already joined university doesn't need to worry.

So. That leaves a lot left to be said. I'm going to break this up into different headings to simplify it as much as possible.

What are the reports main points?

The cap on university fees will be lifted. Universities will be able to charge whatever they want. The government will still pay the upfront cost of education. Students will now repay there loan through the Student Finance Plan (SFP).

What is the SFP?

The SFP is split into four sections:

• SF Learning: Government paying the costs of education on behalf of students
• SF Living: Providing students with money for living costs
• SF Paying: Paying the money back via the tax system.
• SF Giving: Easy way for post-grads to make voluntary tax-deductible donations to charity

Other key points

While there are various details surrounding different amounts of household income and how much you will pay back per month depending on your own income, the following is the most essential information.

Basically if you come from a high income household and for example your university charges £6,100 you will pay the whole loan back via SFP. A student from a poorer background will pay around 35% or £2,100.Students will begin repaying there loan when they are earning above £21,000 up from the current £15,000.

Points of political interest

During the election campaign this year Nick Clegg promised to vote against increased tuition fees. It seem's doubtful given his ass kissing behaviour to the Tories so far that he will be keeping this promise. However it is very likely to divide the Liberal Democrats which contains many MP's who signed the same pledge and genuinely believe in it. Pay attention in the news for reports indicating conflict in the House of Commons. This will not be easy legislation to pass.