Lord Storey (LD)

My Lords, we welcome the Secretary of State’s Statement on universities in the Commons yesterday. Labour introduced student loans, and in opposition Keir Starmer wanted to abolish them. No doubt he cannot because of the £22 billion black hole. We know that in 2015, the Liberal Democrats paid the price for making a pledge on tuition fees that we could not keep, but our reforms at least made the system fairer by giving more support to pupils on low incomes and ensuring that the least well-off graduates repaid the least. Now, our universities are crying out for government to look at their funding, which has remained frozen for eight years. The Conservative Government, while espousing their importance, did nothing but abolish the maintenance grant, so that living costs became a barrier to university learning for disadvantaged students. The previous Government also cut the repayment threshold to £25,000, so that today’s students have to repay hundreds of pounds more per year than older graduates on the same salary. They lengthened the repayment period from 30 to 40 years, so today’s students will still be paying back their loans in 2066. Does the Minister agree that the crisis in funding must be addressed, and have the Government considered how to support universities without raising fees? Will the Minister look at the benefits of international students and give universities stability in this area of policy? Finally, will the Minister look at how universities spend their allocation of £10,000 per student, so that students get value for money and a good university education experience, and the money is spent as efficiently as possible?