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Private

Student loan debt up for private sale

by Rajdeep April 5, 2024

written by Rajdeep

students

The government has started the process of selling more student loan debt to the private financial sector.

It has announced that loans made to students in England between 2002 and 2006 will be put up for sale – to be followed by other pre-2012 loans – with the aim of raising £12bn.

Universities Minister Jo Johnson said the sale would have “no impact on people with student loans”.

But the National Union of Students said it was an “ugly move on students”.

“It is outrageous that bankers will profit off the backs of graduates who took out loans because they had no other option,” said the union’s vice-president Sorana Vieru.

Selling student debt

The government has had a long-standing aim to sell the student loan book to private investors – with types of loans being sold in separate stages.

Over the next four years it aims to dispose of the loans from before 2012, when tuition fees in England were trebled to £9,000 per year.

The slice of loans now being put on sale – dating from 2002 to 2006 – have a face value of £4bn.

The government is promising that there will be “no changes to the terms and conditions” for borrowers – so that rates of repayment for former students will remain the same.

It means that interest on these student loans will become an income for private investors, but repayments will continue to be collected through taxation and the Student Loans Company.

The Intergenerational Foundation think tank has calculated that a student borrowing for three years’ tuition could pay back £54,000 – before debts are cancelled after 30 years.

The Universities Minister Jo Johnson says the sale of assets is part of the drive to bring “public finances under control”.

But he said it would “only proceed once we are satisfied that it represents value for money for the taxpayer”.

Repairing public finances

David Gauke, chief secretary to the Treasury, said it was the right time to start the sale process.

“This sale makes sense for taxpayers and will play an important contribution in our work to repair the public finances,” he said.

But John Pugh, the Liberal Democrats education spokesman, said: “The Conservative Brexit fire-sale is well underway, as ministers scrabble around to sell just about anything that isn’t nailed down.”

Earlier versions of student loans have previously been sold – but it is now approaching the point in which the bigger “income-contingent loans”, introduced in 2006 when fees rose to £3,000, will be the next in line for sale.

The National Union of Students attacked the sale as “economic illiteracy” and warned that it would begin a process in which loans would have to be made more attractive to private buyers – at the expense of student borrowers.

“It doesn’t just penalise students and graduates, it is taking money from the public purse which could and should be spent on services over the long term,” said Ms Vieru.

However, Nick Hillman, director of the Higher Education Policy Institute, said that there was much “misinformation” about the sale of loans, and the key issue was making sure that the taxpayer received good value.

“What the government is doing may make some sense,” said Mr Hillman.

“Why should it keep the loans forever on its books? Why shouldn’t the demand of pension funds for long-term income streams be satisfied if there are no clear losers? Why shouldn’t we look for imaginative ways to reduce the national debt?”

Consumer finance expert Martin Lewis welcomed assurances about borrowers not facing a negative, but cautioned: “It is a question of ‘watch this space’ to see if their rhetoric is matched by their delivery.”

Labour’s shadow education secretary, Angela Rayner, said: “This government never learn any lessons – this sale will do nothing to ease the burden of debt piled on students by the Tories who have trebled tuition fees and scrapped maintenance grants.”

[Source:- BBC]

April 5, 2024 0 comment

Education

‘Old boys’ network helps men from private schools gain advantage over women – regardless of qualifications

by Rajdeep April 4, 2024

written by Rajdeep

Men are much more likely to benefit from a private education than women regardless of their qualifications, a new report suggests, thanks to long-standing “old boys” networks putting men ahead for top jobs and higher salaries.

A longitudinal study led by the UCL Institution of Education,following more than 7,000 people over more than four decades, found that by middle age, those who had received the best educations were in the best jobs.

Men who attended private schools were twice as likely to be in the top income bracket by the time they reached 42 than those who went to a comprehensive, even when they had gained similar exam results.

There was no private school advantage for women, however, even when they achieved the same results from the same kind of schools.

Professor Alice Sullivan, the study’s lead author, said the findings may show that the “old boys network” was still helping push men above women for top job opportunities.

“The difference we found was that for men had a direct advantage in their outcomes in terms of income,” she told The Independent, “even when taking into consideration the improved communication qualifications that they had.”

“While both men and women who attended private schools had an advantage, for example when applying to university, men were still found to earn more – even when controlling that aspect of the data.

Ms Sullivan highlighted that the majority of male public schools – not just the most elite schools such as Eton and St Pau’s – have a strong tradition of getting pupils into top jobs via shared connections.

Women’s private schools, however, had different ambitions for their pupils, who were more likely to pursue lower paid industries or “marry well”.

She added: “It may well be different for students coming out of school now – I think the focus of many private schools has changed.

“It might be the case that girls are getting now accessing some more of the same advantages boys have always had. But some of the problems still exist, for example men still dominate the very highly paid industries such as banking.

“A lot of these schools now have mixed sixth forms which begs the question – are the girls now getting the same push up as the boys or is there still something advantageous about being a man in that network.”

While those surveyed who had enjoyed the best educations were found to end up in the best, well-paid jobs, simply having a degree did not guarantee a large salary, the study found.

Children’s individual social origins – ie, their parents’ professions, income and education – had far more of an impact on their earnings in adult life far than their own qualifications earned.

Those who were brought up by high-earning parents had a distinct edge in reaching the highest income bracket, with an average salary of £85,000 per year for men and £76,000 for women.

[Source:- independent]

April 4, 2024 0 comment

Education

Foreign Office spends £14m on private school fees

by Rajdeep April 4, 2024

written by Rajdeep

foreign office

The Foreign Office spends more than £14m per year on private school fees for children of its staff, including £6m for staff based in the UK.

The figures were revealed in a ministerial response to a parliamentary question by Liberal Democrats.

It meant that last year staff stationed in the UK received school fees worth on average more than £33,000 per year.

Lib Dem leader Tim Farron said: “That is a perk of the job that needs to be looked at seriously.”

A Foreign Office spokeswoman said diplomats who worked overseas who might have to travel at short notice had allowances for school fees so that their children could avoid having their education disrupted.

Foreign Office ministers were asked how much the department had spent on private school fees for the children of staff stationed either overseas or in the UK during 2015-16.

Call for review

The response, from Sir Alan Duncan, said that 179 diplomatic officers stationed in the UK were in receipt of school fees of £6,005,124.

For 173 diplomatic officers stationed overseas, school fees cost £6,403.938.

There was support paid for a further 1,108 children, said the answer, with the total annual cost of fees being £14,207,444.

Mr Farron said that paying so much on private and boarding costs, particularly for staff based in the UK, was “not acceptable”.

“Why can’t staff send their children to the good or outstanding local school?”

Mr Farron said the Foreign Office should review this spending – and if there was any spare cash it should be targeted at pupil premium support for disadvantaged pupils.

A Foreign Office spokeswoman said that “some members of the diplomatic service must be prepared to serve anywhere during their career, sometimes at very short notice”.

“In some parts of the world we do not permit staff to take their children with them for safety reasons, in others local schools of an acceptable standard are not available.

“In these cases it is longstanding practice that the Foreign and Commonwealth Office helps staff by providing support for their children’s education.”

[Source:- BBC]

April 4, 2024 0 comment

Education

Number of state school pupils receiving private tuition has risen by a third, report reveals

by Rajdeep April 4, 2024

written by Rajdeep

About 43% of state school teachers have offered private tutoring outside their main work as demand continues to rise, a report has revealed.

The number of state-educated 11 to 16-year-olds in England and Wales who have been privately tutored rose by more than a third over the last decade, according to research by the Sutton Trust.

But the charity warned that the growth of the “shadow education” market, which it estimates to be worth up to £2 billion for pupils aged five to 18, is exacerbating inequalities in the education system by pricing lower income students out.

Currently across England and Wales, more than a quarter of state-educated 11 to 16-year-olds (700,000 pupils) have been privately tutored at some point, while 43% of state school teachers have offered private tuition.

Sir Peter Lampl, chairman of the Sutton Trust and the Education Endowment Foundation, said: “Private tuition is widespread and increasingly so. Nearly half of teachers have tutored and a quarter of teenagers have been tutored. But with costs of at least £25 per session, many cannot afford to benefit from this extra support, which exacerbates education inequalities.

“No-one wants to limit parents doing their best for their children, but we need to ensure that extra tuition is as widely available as possible. Otherwise, it will continue to widen the attainment gap.”

Maths and English were the most common subjects to be tutored in, followed by the sciences, Spanish and French, while specialist tuition for pupils hoping to pass the 11-plus test and gain a place at a grammar school was also popular.

Last year, 280,000 (10%) 11 to 16-year-old pupils in England and Wales received private tuition – a number the trust called “remarkable”.

But private school pupils were twice as likely to receive private lessons than those attending state schools, and pupils who received free school meals were almost 10% less likely to be privately tutored than those who did not.

The report – based on polling by Ipsos MORI and the National Foundation for Educational Research and data from private tuition agencies – claims to be the “most comprehensive analysis to date” of the UK’s private tuition market.

The trust is calling on the Government to introduce means-tested vouchers that will enable lower-income families to access additional educational support and provide quick remuneration to participating tutors and agencies.

It also is urging agencies to provide a certain proportion of their tuition to disadvantaged pupils for free.

Tutorfair, which has 38,000 tutors and gives free tutoring to one child for every student who pays, was praised as an example of good practice, and grammar schools should ensure young people are familiarised with the type of test they will encounter in entrance exams and encourage children from lower-income backgrounds to apply, the trust recommended.

[Source:- independent]

April 4, 2024 0 comment

Education

Top GCSE and IGCSE grades increase at private schools

by Rajdeep April 4, 2024

written by Rajdeep

exam success

While independent school figures appear to buck the national trend, the inclusion of IGCSEs means they are not directly comparable

Private schools have reported an increase in the number of A* grades awarded to their pupils atGCSE and IGCSE.

The Independent Schools Council, which represents nearly 1,300 schools, said the number of A*s awarded in the qualifications had risen 1.6 percentage points to 34.5 per cent of all grades in 2016.

The figures are not directly comparable with national figures for GCSE as they include IGCSE grades.

However, national figures for all schools at GCSE alone, published last month, show that just 6.5 per cent of grades were awarded at the top grade, a fall of 0.1 percentage points this year.

The ISC said the proportion of its candidates achieving five or more GCSE or IGCSE A*-C grades, including English and maths, increased 0.7 percentage points to 90.8 per cent in the 552 schools surveyed this year.

The EBacc effect

Nationally, the proportion of GCSE entries receiving A*-C grades fell by 2.1 per percentage points on last year to 66.9 per cent.

This was the biggest ever national drop since the exams were introduced more than 25 years ago. Headteachers put this down to schools entering weaker pupils for more “academic” subjectsin order to achieve higher scores on the English Baccalaureate measure.

IGCSEs are not regulated by Ofqual and were removed from league tables in 2014. This led to many schools, mainly those in the independent sector, receiving a score of zero in the measure for pupils’ achieving five A*-C GCSEs, including English and maths.

Despite protests from schools, the government has refused to budge, saying that including results for IGCSE and other alternative qualifications in national results would “undermine the rigour of our qualifications”.

A note on the ISC’s press release relating to today’s figures said: “Results from ISC schools include IGCSE as well as GCSE. ISC continues to believe there are no grounds for the separation of performance of the IGCSE from the GCSE.”

Today’s figures follow research earlier this year from the Centre for Evaluation and Monitoring (CEM) at Durham University, which suggested that attending an independent school in England could add the equivalent of two additional years of schooling by the age of 16.

The results also come after the TES reported that private schools were increasingly turning their backs on GCSEs because they were “uninspiring”.

‘Formative stepping stone’

Barnaby Lenon, chair of the ISC, said: “To see an increase in independent school grades across the board is excellent news and testament to all those working hard in our schools – and of course to the young men and women who sat the exams having built towards them for a number of years.

“Set against a decrease in numbers nationally and in an environment where there are efforts to halt grade inflation, this is particularly impressive.”

Julie Robinson, ISC general secretary, said: “Once again, the value of an independent education can be seen through the achievements of the students in our schools.

“GCSEs might not be the most popular of exams – and some commentators have questioned the validity of public examinations at this point in a student’s education.

“However, our schools put much emphasis on the core subjects of English, maths, sciences and languages, much-prized by universities and employers, so these exams continue to be a formative stepping stone for our pupils.”

[Source:- tes]

April 4, 2024 0 comment

Education

Eton pupils granted private Kremlin meeting with Vladimir Putin before Theresa May

by Rajdeep April 4, 2024

written by Rajdeep

Students from Eton College were granted a private audience with Vladimir Putin in Moscow, beating Theresa May to it.

Despite the fact Ms May will not meet the Russian head of state until an international summit next week, the teenage boys enjoyed a handshake and personal meeting with Mr Putin at the Kremlin.

Pictures of the meeting, thought to have been set up by a Russian bishop after he gave a talk at the exclusive Berkshire college in March, were posted on social media.

The boys were photographed sitting around a meeting table with Mr Putin while wearing translation headsets. The pictures show some of the boys wearing official Eton ties.

A source close to the students told The Sun: “They didn’t tell anyone they were going. I would assume it was so the school didn’t find out because I don’t think they would be happy.”

“They went last week, I’m not sure on the details entirely, I don’t know who paid for the flights out there.

“From what I understand, they were talking to him about Eton because he had a keen interest in the college, mainly due to previous politicians in the UK who had attended.

“After they got home, the boys posted the pictures to social media, which I thought was strange because it looked like they had been trying to keep it quiet previously.

“I know the boys through friends, who showed me the pictures on social media.”

One of the boys, Marc Woernle, posted on Facebook: “We had an incredible time, and thank you very much to the people who made this trip happen, Natalya, Evgeny Markin and Evgeny Zhadkevich, Nikolai, Bishop Tikhon, our many tour guides, and drivers, and organisers, and everyone who worked behind the scenes to help us.

“We are incredibly grateful to Bishop Tikhon and President Putin for inviting us, and for the hospitality going above and beyond what we expected.”

An Eton College spokesperson said: “This was a private visit by a small group of boys organised entirely at their own initiative and independently of the college.”

Mr Putin will meet Ms May for the first time next week for a face-to-face talks at the G20 summit in China.

The Russian president has previously said he is ready to initiate “constructive dialogue” with the UKs new Prime Minister.

“Vladimir Putin confirmed his willingness to have a constructive dialogue and to collaborate with the British prime minister about current issues concerning bilateral relations and the international agenda”, the Kremlin said in a statement shortly after Ms May assumed office.

[Source:- independent]

April 4, 2024 0 comment

Education

Private school fees soar to £160,000 per child, research finds

by Rajdeep April 4, 2024

written by Rajdeep

Parents face a bill of almost £160,000 to have their children privately educated amid the soaring cost of fees in recent years.

The average cost of a private school education for a day pupil who started reception in 2003 and left after sixth form in 2016 is £156,653, according to research by Lloyds Bank Private Banking.

Annual fees have almost doubled in that time, with the average cost of sending a child to private school for a year rocketing from £7,308 in 2003 to £13,341 today, a rise of 83 per cent.

In London parents have seen fees rise by 25 per cent in the last five years alone.

But costs have risen far more than average earnings, putting an enormous strain on families who want to choose private education for their children.

School fees rocketed by an average of 21 per cent over the last five years, up from £10,983 in 2011 – an increase that is 8 per cent above inflation.

The steep hike means that the £13,341 school fee accounts for almost 40 per cent of the average full time earnings of £34,545, a marked change from in 2003 when fees amounted for 28 per cent of earnings.

Despite the increasing financial burden on families, pupil numbers at private schools remain largely unchanged over the last five years.

Those going to senior school – between the ages of 11 and 16 – have fallen by 3 per cent, but numbers going to private sixth forms have grown by 10 per cent, and those at junior schools have gone up by 6 per cent.

Sarah Deaves, private banking director at Lloyds Bank, said: “All parents want the best for their children and a good education is no exception.

“A place at a private school is a huge financial commitment, almost an eye-watering £157,000 for just one child, from reception to finishing the sixth form as a day pupil.

“With average annual fees at £13,341 per child and the compulsory school leaving age now 18 years, many families may well feel some strain.

“It has, therefore, become increasingly important that parents, and sometimes grandparents, plan their finances as early as possible if they want a private school education for their children.”

The research, based on data from the Independent Schools Council and the Office for National Statistics, showed that private schooling in London was the most expensive in Britain, costing £179,145 to educate children from the age of five until they are 18.

Parents in the North paid the least, at £126,609 for 13 years of fees.

In London, school fees have almost doubled since 2003, rising 97% from £8,016 to £15,828 today, compared to the lowest increase over the same period in the West Midlands, a rise of 66 per cent from £6,984 to £11,580.

But there is help for parents, with around 160,000 children getting assistance for their fees – almost a third of all pupils at fee-paying schools, not just day pupils – that is worth more than £850 million a year.

The vast majority of this assistance, 85 per cent, comes from schools themselves.

[Source:- independent]

April 4, 2024 0 comment

Education

Fall in private school A-level entries receiving top grades

by Rajdeep April 4, 2024

written by Rajdeep

good A level results from private schools

Independent schools record a dip in the proportion of entries receiving top A* and A grades, as BTEC entries rise

Almost half of all independent school A-level entries received either an A* or an A in 2016, new figures from the Independent Schools Council (ISC) reveal.

A total of 48.7 per cent of exam entries from schools surveyed by the organisation were awarded the top two grades, which is nearly double the national average figure of 25.8 per cent.

However, the figures were down on last year, when 49.4 per cent of private school entries were awarded the top two grades.

The percentage of students achieving at least ABB – the combination of results used to define “high performers” by top UK universities – was 55.5 per cent.

The ISC, which collected data from 495 independent schools, also revealed that one in 15 students gained three A* grades, the equivalent of around one student per sixth-form class.

The figures also reveal a significant increase in the number of students opting for BTEC vocational qualifications, which rose 14 per cent on last year to 792.

There was also a 19 per cent increase in pupils taking the Pre-U exam, an A-level equivalent designed to prepare pupils for university education. In total 1,801 took the Pre-U at ISC schools surveyed in 2016, compared with 1,516 in 2015.

‘Embracing vocational qualifications’

The increasing popularity of BTEC qualifications comes after Magnus Bashaarat, head of Milton Abbey School in Dorset, said in February that independent schools should “embrace” vocational qualifications despite them having become become “victims of intellectual and class snobbery”.

Barnaby Lenon, chairman of the ISC, said: “A concerted effort to halt grade inflation in recent years has seen the top grades both nationally and in independent schools level off and fall slightly, so it is encouraging to see the headline A* and A figure remain solid.

“Of particular note is the increase in students achieving ABB grades, which will see many of them moving on to the university of his or her choice, a high number to the top institutions.

“Importantly, the actual grades achieved remain impressively high. ISC schools focus strongly on the’facilitating’ subjects which are much prized by top universities. In 2015 our schools had record levels of entry to Russell Group universities and we expect this trend to continue.”

Julie Robinson, ISC’s general secretary, said: “The annual exam results each August remind us all that the academic side of school life is a top priority and that the grades achieved help pave a foundation for much that is to come for many young people.

“On top of all other aspects of independent school life, visible recently with the sporting successes of our alumni in the Olympics, these results show there is great strength and continued value in independent education.”

A-level grades in schools belonging to the Independent Schools Council:

Cumulative entry % by grade 2016
	A*	A	B	C	D	E
ISC	17.9%	48.7%	75.2%	89.9%	96.6%	99.1%
National	8.1%	25.8%	52.9%	77.6%	92.2%	98.1%

[Source:- tes]

April 4, 2024 0 comment

Education

Private schools A-level dip reflects national trends

by Rajdeep April 4, 2024

written by Rajdeep

Brighton College A-level students

Private schools saw a dip in top A-level results this year, largely reflecting national trends, figures released by the sector suggest.

The proportion of private school A-level entries gaining grade A or better was 48.7%, down from 49.3% last year, says the Independent Schools Council.

This is still almost twice the national average of 25.8%, itself down slightly from 25.9% in 2015, says the ISC.

Council chairman Barnaby Lenon called the figures encouraging.

Overall, the 2016 A-level grades, published earlier this month, showed a marginal fall in top grades for the fifth successive year – but the Joint Council for qualifications described outcomes as relatively unchanged.

The ISC figures, for 495 UK independent schools offering A-levels, reflect the results of 36,992 candidates and suggest:

17.9% of pupils achieved at least one A*, down 0.6 percentage points, but more than double the national average of 8.1% (itself down 0.1% on 2015)
6.8% got at least three A* grades, down from 7% in 2015
55.5% got ABB – unchanged on 2015

Overall the pass rate for private school A-level students was 99.1% – one percentage point better than the national average, says the ISC.

And three-quarters (75.2%) of grades were B or higher, it adds, compared with 52.9% nationally

According to the ISC, more private schools are choosing to offer the International Baccalaureate, with the number rising by 5% on last year.

The ISC says the figures show academic success is still a “top priority” at independent schools, with a strong focus on good grades in the subjects preferred by the most selective universities.

“A concerted effort to halt grade inflation in recent years has seen the top grades both nationally and in independent schools level off and fall slightly, so it is encouraging to see the headline A* and A figure remain solid,” said Mr Lenon.

“Of particular note is the number of students achieving ABB grades, which will see many of them moving on to the university of his or her choice, a high number to the top institutions.”

[Source:- BBC]

April 4, 2024 0 comment

Education

Medical colleges in ‘rotten’ state, says SC: Orissa-based private college accused of playing with students’ future

by Rajdeep April 4, 2024

written by Rajdeep

Supreme Court

The Supreme Court on Friday, May 6 termed the state of medical colleges in the country as “rotten,” while imposing a fine of Rs 5 crore on an Odisha -based private medical college for abruptly increasing the number of seats from 100 to 150 in an academic year and accusing it of “playing with the future of students”.

SC’s verdict on the medical college:

“Costs of Rs 5 crores are imposed on Kalinga Institute of Medical Sciences (KIMS) for playing with the future of its students and the mess that it has created for them. The amount will be deposited by KIMS in the Registry of this Court within six weeks from today, according to PTI.

“The amount of Rs 5 crores so deposited towards costs shall not be recovered in any manner from any student or adjusted against the fees or provision of facilities for students of any present or subsequent batches,” a bench comprising Justices M B Lokur and N V Ramana said.

Apex court’s order regarding students who were admitted in the year 2015-16 in the courses run by the medical college administration:

“The admission granted to the 50 students pursuant to the order of the High Court dated September 25, 2015 and the provisional permission granted by the central government only on September 28, 2015 shall not be disturbed.

“How the students will complete their course of studies without putting undue pressure on them is entirely for MCI and KIMS and other concerned authorities to decide,” it said.

KIMS has been restrained by the court from increasing the intake of students from 100 to 150 for the MBBS course for the academic year 2016-17 and 2017-2018.

The order came on an appeal filed by Medical Council of India (MCI) challenging the Orissa High Court’s verdict, which had permitted KIMS to admit additional 50 students in academic year 2015-16.

The private medical college had moved the High Court, challenging MCI’s order disallowing admission in MBBS and BDS streams citing lack of adequate infrastructure.

April 4, 2024 0 comment