The universities reforms of 2012 did not shift the cost from taxpayers to graduates, as some of the rhetoric around them suggested, but amounted to an increase in the subsidy for universities that will be paid for via higher fees for graduates while the taxpayer costs stays roughly the same. Hence, perhaps, the letter from vice-chancellors about Labour’s supposed policy.

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I studied for an undergraduate degree in England and for a masters in the US. In America, I learnt of the debt some of my fellow students had taken on. The English system I had studied under from 2003 to 2006, and which ended in 2012, seemed relatively generous. But after reading Thursday’s report by the Institute of Fiscal Studies into what the new system of student funding means for future graduates from English universities, I suspect that the idea that the average American graduate is more indebted may soon no longer hold. Graduates of English universities could shortly become the most indebted in the world. Read more