The Impact of Tuition Fees on Students, Parents and Universities - Assignment Example

Business Write Up on Tuition Fees The September 2006 newly introduced fees have met various reactions from the parents and the .the University will be charging fees of 3,000 to students from the United Kingdom and the European Union. In line with these the institution has introduced a new system which will attract funding support that will give students more choice on how well they can organise their money. New UK and EU students will be charged a 1,200 fees for their Undergraduate Foundation Years. There is a refund to those who will be successful in completion of the Undergraduate Foundation Year thereby enrolling on to Credit Level 4 at Westminster. Programmes taken by new students (2006/2007 academic year) will not be charged The good news is that loans will be availed to cover the full cost incurred during the study with student not expected to repay these unless they secure jobs earning them at least 15,000 a year. Together with these there will be grants, bursaries and scholarships which will help them cover the cost of living. On meeting eligibility rules set for those undergraduates from the UK and EU, one can apply for a loan amounting to 3,000 which will cover fees for each academic year. However those who are financially stable are not expected to apply. Eligible UK students can also apply a non-refundable maintenance grant amounting to 2,700 a year, 300 bursary and other related forms of finance. Those studying in London and lives away are entitled to a maximum maintenance loan of up to 6,170 a year while those living with their parents will get a maximum of 3,415 a year as maintenance loan, a minimum of 4,630 a year and 2,560 a year respectively. Students with dependants will be eligible for more support which will be dictated by their disposable income, those with children can get an 85% childcare costs grant accompanied by up to 1,365 a year extra grant. An adult dependant will attract up to 2,400 a year extra grant. Students with disabilities or learning difficulties are eligible for grants that will cater for extra expenses which they may incur in the course of studies Lastly, the university is offering various scholarships to those students from UK and EU who excel in academics. The scholarships are worth up to 4,000 a year. Above all those students who still face financial difficulties even after receiving all the funding are encouraged to apply to the University's Access to Learning Fund for more assistance. Impacts to the students Benefits Students will acquire knowledge, skills and disposition that will enable them to participate at more or less effective members of groups and societies. Eligible students from United Kingdom and European Union will easily assess loans that will help them clear fees in each academic year For those students with dependants the university will consider them by issuing 85% childcare costs grant which will be accompanied by up to 1,365 annual extra grant. Those with adult dependants will receive a grant amounting to 2,400 a year. These will greatly assist this students hence making their learning smooth and uninterrupted by cases such as fees and dependant's upkeep Students will get modern and improved facilities from the university, this will include a well equipped library with necessary research materials They will receive well organised sporting activities that will attract regional and international competition thereby improving on their extra-curriculum activities. Disadvantages The new fee structure will lead to a reduced opportunity for students to join Westminster University This will lead to a considerable decrease on the number of students who will be applying to join the institution since most of them will shy away from the new fees. Students will experience inequality based on the admission system The total student debt will increase as a result of the fee increment Intelligent students from less well off families are exclude in the system hence denying them an opportunity to improve their situations in life as well as helping out their families Impacts to the parents Benefits Their children will get a newly improved form of education that will fully equip them for the future For those who are not financially stable but within EU and UK their children will be issued with some loan to cover their fees Disadvantages To many poor parents their intelligent children will be locked out, resulting to discontinuation from school a thing that will greatly affect their future The gap between the poor and the rich, the highly educated and t77777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777obtained from reduced expenditure on education will be diverted to other sectors for the general economic development. Disadvantages The gap between the reach and the poor will widen impacting negatively on country's economy The Government will fail on it's pledge of having more than fifty percent of it's citizens acquiring higher education Impacts to the University Benefits Through the increased fees the University will adequately meet its operation costs translating to smooth running The university will equip it's library a thing that will project it's international status It has led to the institution introducing a scheme that pays students to learn to teach Disadvantages There will be a decline in students application associated with increased fees Scholarships offered and bursary issued might strain the university budget References University of Westminster (2006): Fees and funding for new full-time home (UK/EU) undergraduate students, Retrieved on November 7, 2006 from, http://www.wmin.ac.uk/funding University of Westminster (2006): New Fess and Funding for Full-time Undergraduate 2006, Retrieved on November 7, 2006, from http://www.wmin.ac.uk University of Westminster Students' Union (2002): Students' Unions March against Fees, Retrieved on November 7, 2006, from http://www.officeronline.co.uk/admissionimpossible/ Read More