He said: “The greed of the vice-chancellors sealed their fate.
“They increased their own pay and perks as fast as they increased tuition fees, and are now ‘earning’ salaries of £275,000 on average and in some cases over £400,000.”
He also criticised the Government’s “egregious” recent decision to raise interest rates on student loans taken out since 2012 to 6.1 per cent, citing a study by the Institute for Fiscal Studies that suggested many would never pay them off.
The report, released on Wednesday, said: “The combination of high fees and large maintenance loans contributes to English graduates having the highest student debts in the developed world.”
The IFS also said the interest rates were “very high” at up to three per cent above inflation.
National and international leadership
The Vice-Chancellor holds a number of senior positions both nationally and internationally, acting as an advisor to the higher education sector, government organisations, multi-national corporations and not-for-profit organisations.Current roles include:
- Director of Universities UK (UUK)
- Chair of the UUK Funding Policy Network
- Director of Universities Superannuation Scheme
- Member of the Council of the Economic and Social Research Council (ESRC)
- Deputy Lieutenant of Somerset
- Member of the Science & Technology Honours Committee
- Non-Executive Director of NHS Improvement Board
National and international leadership
The Vice-Chancellor holds a number of senior positions both nationally and internationally, acting as an advisor to the higher education sector, government organisations, multi-national corporations and not-for-profit organisations.Current roles include:
- Director of Universities UK (UUK)
- Chair of the UUK Funding Policy Network
- Director of Universities Superannuation Scheme
- Member of the Council of the Economic and Social Research Council (ESRC)
- Deputy Lieutenant of Somerset
- Member of the Science & Technology Honours Committee
- Non-Executive Director of NHS Improvement Board
President and Vice-Chancellor
Professor Dame Glynis M. Breakwell DBE, DL
BA, MSc, MA, PhD, DSc, LLD(Hon) CPsychol, FBPsS, FRSA, PFHEA, HonFBPsS, FAcSS
Professor Dame Glynis Breakwell DBE, DL was appointed Vice-Chancellor of the University of Bath in 2001. She is one of Europe’s leading social psychologists and in 2014 was named in the Science Council’s list of ‘100 leading UK practising scientists’.Dame Glynis is an active public policy adviser and researcher specialising in leadership, identity processes and risk management and has produced over 20 books including, most recently, the second edition of The Psychology of Risk.
Dame Glynis took her PhD from the University of Bristol and an MA and DSc from the University of Oxford where she held a Prize Fellowship at Nuffield College. In 2004, in recognition of her contribution to the social sciences, she was awarded an Honorary Doctorate of Laws from the University of Bristol and in 2004 became an Honorary Professor at the University of Shandong in China.
She has been a Fellow of the British Psychological Society since 1987 and is a chartered health psychologist. In 2002 she was elected an Academician of the Academy of Social Sciences, and in 2006 became an Honorary Fellow of the British Psychological Society – an accolade currently shared with just over 30 others.
Dame Glynis has nationally championed the role of universities in scientific and technological innovation, exploitation and economic regeneration, and has worked over many years to widen participation in science and achieve knowledge transfer from higher education to business. In 2012 this work was recognised when she was appointed Dame Commander of the Order of the British Empire in the Queen's New Year Honours for services to higher education.
Since her appointment as Vice-Chancellor, Dame Glynis has led the growth and development of the University of Bath, enhancing its reputation as a world-class University for both its research and teaching. She has led the establishment of a flagship sports facility on the campus where many international and medal-winning athletes now train, and more recently led the development of The Edge – the University’s new arts and management building.
In addition to her role as Vice-Chancellor, Dame Glynis holds a number of senior positions both nationally and internationally, acting as an adviser to the higher education sector, government organisations, multi-national corporations and not-for-profit organisations.
Latest figures show that three in four students paying the highest fee of £9,250 a year will never clear their debt.
While admitting he was “largely responsible” for ex-PM Mr Blair’s education reforms, Lord Adonis said the rocketing bills were mainly the result of “opportunism and greed” of university chiefs.
The Government has said the current system, introduced by the coalition in 2012, is fair and warned scrapping the fees would be “mind-bogglingly expensive”.
But Lord Adonis asked yesterday: “How did we get from the idea of a reasonable contribution to the cost of university tuition – the principle of the Blair reform of 2004, for which I was largely responsible – to today’s Frankenstein’s monster of £50,000-plus debts for graduates on modest salaries?
Latest figures show that three in four students paying the highest fee of £9,250 a year will never clear their debt.
While admitting he was “largely responsible” for ex-PM Mr Blair’s education reforms, Lord Adonis said the rocketing bills were mainly the result of “opportunism and greed” of university chiefs.
The Government has said the current system, introduced by the coalition in 2012, is fair and warned scrapping the fees would be “mind-bogglingly expensive”.
But Lord Adonis asked yesterday: “How did we get from the idea of a reasonable contribution to the cost of university tuition – the principle of the Blair reform of 2004, for which I was largely responsible – to today’s Frankenstein’s monster of £50,000-plus debts for graduates on modest salaries?
“And why did we give university vice chancellors a licence to print money?”
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