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Labour Plans 13.5% Increase in University Tuition Fees to £10,500

Sep 29, 2024, 10:34 AM

The Labour Party in the UK has drawn up plans to raise university tuition fees to £10,500 per year, representing a 13.5% increase. This decision has sparked significant controversy, particularly because Labour leader Sir Keir Starmer had previously pledged to abolish tuition fees. Critics are highlighting the discrepancy between the party's pre-election promises and their current actions. The increase is seen as particularly burdensome given the current student debt of £240 billion and an interest rate of 7.3%, which could double the debt every ten years. The move has drawn widespread criticism from various quarters, with some calling it a betrayal of young people and a departure from Labour's earlier stance on education funding. The hike is described as inflation-busting.