by Guest » Sat Oct 21, 2017 4:22 pm
The daft thing is that they know that an awful lot of this debt won't be repaid and are making huge provisions against it.
I attended a briefing at the Treasury a couple of years ago to talk about the Whole of Government Accounts (WGA) and a senior bod actually said that he wondered how the current model could continue to be politically sustainable, given that it advanced a loan with one hand and then provided against it a few years later. They might as well avoid the costs of all the admin and just go back to the old system of grants.
The other interesting thing is that, although the cash for (e.g.) fees, goes to the university concerned, the cost of the provision against the corresponding debt is not charged to the university. So some Vice-chancellors have been trousering huge salaries off the back of big university fee income figures that, in many cases, simply won't actually be repaid. Fucking disgrace.
The daft thing is that they [i]know[/i] that an awful lot of this debt won't be repaid and are making huge provisions against it.
I attended a briefing at the Treasury a couple of years ago to talk about the Whole of Government Accounts (WGA) and a senior bod actually said that he wondered how the current model could continue to be politically sustainable, given that it advanced a loan with one hand and then provided against it a few years later. They might as well avoid the costs of all the admin and just go back to the old system of grants.
The other interesting thing is that, although the cash for (e.g.) fees, goes to the university concerned, the cost of the provision against the corresponding debt is not charged to the university. So some Vice-chancellors have been trousering huge salaries off the back of big university fee income figures that, in many cases, simply won't actually be repaid. Fucking disgrace.