The current system of fees and loans just isn't working. We've had huge price inflation led by the universities because they know the government will back up the loan. Ironically, the extra money is often spent on new facilities (also built on credit), which are used to attract new students. It's not uncommon for a university to make a loss on undergraduate teaching. This needs to stop.
There's too much access to credit for both students and universities and too much of it is being wasted on competition and prestige in a market with few controls on quality. The transfer of wealth between students (and often their parents) and the universities is getting too large.
Any solution which relies on the student's access to credit is going to be exploited by the universities to gain access to more money. It's very similar to the housing market, few controls, too much cheap credit, and lots of emotional life decisions being made.
Abolishing fees would force the government to say no to the universities and keep the price under control. Students, no matter how wealthy, are too vulnerable a group to avoid exploitation under the current system.
There's too much access to credit for both students and universities and too much of it is being wasted on competition and prestige in a market with few controls on quality. The transfer of wealth between students (and often their parents) and the universities is getting too large.
Any solution which relies on the student's access to credit is going to be exploited by the universities to gain access to more money. It's very similar to the housing market, few controls, too much cheap credit, and lots of emotional life decisions being made.
Abolishing fees would force the government to say no to the universities and keep the price under control. Students, no matter how wealthy, are too vulnerable a group to avoid exploitation under the current system.