Augar predicts accounting changes for loans

The government’s post-18 review into education and funding is working under the assumption that accounting changes will be made to student loans, bringing the debt under intense public scrutiny and causing a delay to the review's findings.

Speaking at the annual conference for the vice-chancellors’ group Universities UK on 5 September, chairman of the review Philip Augar told delegates that the panel behind the post-18 review was working on the assumption that the Office for National Statistics’ (ONS) forthcoming advice on the presentation of student loans in the public accounts will make the cost of higher education appear more expensive and contribute to the deficit.

“The taxpayer’s contribution to higher education is largely concealed from the public eye; it’s largely concealed by the current method of accounting for student loans,” Augar told the conference.