Pennsylvania and Arizona lead state and local governments set to borrow about $13 billion in the U.S. municipal bond market this week, and the increased supply may offer some bargains for investors.
Pennsylvania, which last week voted to expand table games at slot-machine parlors to raise revenue for budget gaps, will take bids from banks on $900 million of general obligation bonds, including $600 million of taxable Build America Bonds.
Arizona, one of the states hardest hit by home-mortgage foreclosures, will borrow $733 million to pay for services. This week’s sales include a $770 million issue by the city of Chicago. Weekly fixed-rate issuance last month averaged $6.2 billion, according to data compiled by Bloomberg.
“Deals will have to come attractively priced to move the supply,” said Tom Spalding, a senior investment officer at Nuveen Investments Inc. in Chicago who oversees $10 billion of municipal debt. “If you’re a believer that traditional tax- exempt supply is going to be limited in 2010, then it’ll be a fairly good opportunity to dip your toe in the water.”
Yields on municipal general obligation securities maturing in 20 years rose 0.06 percentage point, or 6 basis points, last week to 4.31 percent, according to the Bond Buyer 20 General Obligation Bond index.
Demand for municipal issues traditionally rises in January as bondholders reinvest coupon payments. At least $30 billion may be reinvested this month, said Rob Amodeo, a portfolio manager at Pasadena, California-based Western Asset Management Co., who helps oversee $40 billion of local government debt.
Build America
The federal Build America program, created by the February 2009 economic stimulus plan, will continue to sap supply of traditional tax-exempt debt to about $300 billion this year, Spalding said. The program, under which the U.S. Treasury pays 35 percent of interest costs, produced more than $60 billion in taxable issues by states and municipalities last year, and sales may reach $150 billion in 2010, according to Municipal Market Advisors.
Pennsylvania will come to market this week with the biggest-ever competitive auction of Build America Bonds to help pay for capital projects, including the expansion of the state convention center in Philadelphia, said Rick Dreher, the state’s director of the bureau of revenue, cash flow and debt.
Moody’s Investors Service rates Pennsylvania’s general obligations at Aa2, its third-highest investment grade.
Source
Sunday, February 28, 2010
Monday, February 15, 2010
Money Matters: The National Debt
It's a number that could keep you up at night: $12 trillion. The national debt has increased by $3.9 billion per day since September of 2007. And your individual share of it is now nearly $40,000. Some KELOLAND college students are wondering how it's going to affect their future.
It's a disaster movie, but this is about seeing red in the federal budget. "I.O.U.S.A." is making the rounds on college campuses, hoping to help students understand the long term consequences of the national debt.
"Many student and many citizens don't realize the dire financial situation the U.S. may find itself in, in a few years," Professor Robert Wright said.
The film had a powerful impact on its viewers.
"I knew it was a really large issue we were facing, but after watching the movie, it dramatically changed my outlook on it. I realized how big a problem it is, seems impossible to get out of how everything is going now," student Cami Koehn said.
But the professor who brought the movie to Sioux Falls doesn't want it leaving the students hopeless. He wants them to help reverse the trend.
"They can by being politically active and vote for candidates who promise to tighten our nation's ship," Wright said.
"We're coming to the end of college and we're going to be in the real world and have to face the debt and everything going on. We have to take the initiative to change that," student Nick Andreas said.
"It's not something to go home and not sleep at night. It's not a horror film it. It's a prequel to a horror film, warning or foretelling of dire situations in the future," Wright said
Even since the documentary first came out, the national debt has grown by $4 trillion. You can watch the 30-minute version of "I.O.U.S.A." online.
It's a disaster movie, but this is about seeing red in the federal budget. "I.O.U.S.A." is making the rounds on college campuses, hoping to help students understand the long term consequences of the national debt.
"Many student and many citizens don't realize the dire financial situation the U.S. may find itself in, in a few years," Professor Robert Wright said.
The film had a powerful impact on its viewers.
"I knew it was a really large issue we were facing, but after watching the movie, it dramatically changed my outlook on it. I realized how big a problem it is, seems impossible to get out of how everything is going now," student Cami Koehn said.
But the professor who brought the movie to Sioux Falls doesn't want it leaving the students hopeless. He wants them to help reverse the trend.
"They can by being politically active and vote for candidates who promise to tighten our nation's ship," Wright said.
"We're coming to the end of college and we're going to be in the real world and have to face the debt and everything going on. We have to take the initiative to change that," student Nick Andreas said.
"It's not something to go home and not sleep at night. It's not a horror film it. It's a prequel to a horror film, warning or foretelling of dire situations in the future," Wright said
Even since the documentary first came out, the national debt has grown by $4 trillion. You can watch the 30-minute version of "I.O.U.S.A." online.
Thursday, January 28, 2010
Low Interest Student Credit Cards Help Build Credit Score; College Students Gain Credit History
When it comes to credit, many college students are usually at one extreme of the spectrum or the other as they near graduation. They either have no credit history or their credit score is in trouble due to high-interest student credit cards that credit card companies often hand out like candy on college campuses.
However, to build a credit score, which is vital seeing as how a good credit score is a valuable asset, a student credit card is a good way to go. However, avoid those “looks good up front offers” from many card companies on campus and seek out a low interest student credit card from a reputable lender who will not only give you a low interest rate, but also realizes that you, the student, want to build a credit history not start post-graduate life in debt.
Many lending institutions will offer credit cards to college students, but there is the matter of looking at the interest rates involved. With so many credit card companies looking to raise credit card interest rates right now due to pending legislation that will prevent them from doing so without warning, among other things, finding a low interest rate on a student credit card will require shopping around and research.
There are numerous lenders who advertise student credit cards and who will offer little or no interest, but unless that great deal has staying power, then keep looking. Most credit card companies will give students just enough time to become comfortable with their card and make a habit of using it, before they raise the interest to a point that is unaffordable.
Find a financial institution or credit card company who will give you a fixed, low interest student credit card that will allow you to afford the payments and thereby build a credit history and good credit score.
Again, key points to remember are research, read the fine print and look at advertised lenders who are going to give you a low interest student credit card for the benefit of your credit not their gain.
Source
However, to build a credit score, which is vital seeing as how a good credit score is a valuable asset, a student credit card is a good way to go. However, avoid those “looks good up front offers” from many card companies on campus and seek out a low interest student credit card from a reputable lender who will not only give you a low interest rate, but also realizes that you, the student, want to build a credit history not start post-graduate life in debt.
Many lending institutions will offer credit cards to college students, but there is the matter of looking at the interest rates involved. With so many credit card companies looking to raise credit card interest rates right now due to pending legislation that will prevent them from doing so without warning, among other things, finding a low interest rate on a student credit card will require shopping around and research.
There are numerous lenders who advertise student credit cards and who will offer little or no interest, but unless that great deal has staying power, then keep looking. Most credit card companies will give students just enough time to become comfortable with their card and make a habit of using it, before they raise the interest to a point that is unaffordable.
Find a financial institution or credit card company who will give you a fixed, low interest student credit card that will allow you to afford the payments and thereby build a credit history and good credit score.
Again, key points to remember are research, read the fine print and look at advertised lenders who are going to give you a low interest student credit card for the benefit of your credit not their gain.
Source
Friday, January 15, 2010
American Student Faces Murder Charges in Italy
Amanda Knox, a 22-year-old American college student, was charged with the murder of her British housemate in Perugia, Italy. According to The New York Times, Knox, a linguistics major from Seattle, has maintained her innocence in the murder case which has drawn relentless media attention, particularly in Italian and British tabloids. Knox has been held in jail since Nov. 2007, soon after Meredith Kercher, 21, was found with her throat slit, semi-naked and wrapped in a duvet, in the house the two students shared. Knox is accused of murdering Kercher with her boyfriend at the time, Rafaelle Sollecito, and a second man. In Oct. 2008, the second man, Rudy Guede, 21, received a 30-year sentence for the crime.    Â
According to CNN, Knox's photo hangs in the police plaza alongside Italy's most infamous mobsters and criminals. Prosecutors declared the case closed within weeks. However, all three of the accused say that they are innocent. Forensic experts say a knife found at Sollecito's house had Kercher's DNA on the tip, and Knox's on the handle. According to the prosecution, Kercher had never been to Sollecito's apartment, and thus would not have come in contact with the knife, showing the knife played a role in the murder. According to The New York Times, the prosecution also says they found DNA evidence of Knox's footprint in Kercher's blood, and several other traces of the two women's intermingled DNA. According to CNN, defense lawyers accuse investigators of "shoddy police work and tampering with the crime scene." Experts testifying for the defense say there is no way the knife could be the murder weapon. Dr. Carlo Torre, a leading forensics expert in Italy, testified that the knife "doesn't match the size or shape of the wounds[…] Sollecito's knife also doesn't match a bloody outline of a knife left on the bedding."According to CNN, Knox's murder trial is entering its final stages, with closing arguments beginning Nov. 20. The jury will begin deliberation on Dec. 4. Currently, there is still no agreement on the key pieces of evidence that prosecutors say convicts her and the defense says clears her.
Curt Knox, Amanda's father said his daughter has cooperated with police and never expected to be implicated. He and Amanda's mother, a Seattle schoolteacher, have taken turns living in Italy. According to Newsweek, Knox told an Italian television audience that his family is in "six-figure debt" in legal and travel bills. He lost his job when Macy's department store in Seattle downsized, and is currently looking for work. The Knox family says they have exercised every available financial resource and now rely on donations to stay afloat.
Furthermore, in the two years since losing their daughter, the Kercher family still has no closure. According to CNN, Kercher's father, John, a journalist who has written about the case for his British newspaper, is writing a book in order to help defray legal costs. The Kerchers have filed a civil suit for $33 million against anyone found guilty of their daughter's murder.
Source
According to CNN, Knox's photo hangs in the police plaza alongside Italy's most infamous mobsters and criminals. Prosecutors declared the case closed within weeks. However, all three of the accused say that they are innocent. Forensic experts say a knife found at Sollecito's house had Kercher's DNA on the tip, and Knox's on the handle. According to the prosecution, Kercher had never been to Sollecito's apartment, and thus would not have come in contact with the knife, showing the knife played a role in the murder. According to The New York Times, the prosecution also says they found DNA evidence of Knox's footprint in Kercher's blood, and several other traces of the two women's intermingled DNA. According to CNN, defense lawyers accuse investigators of "shoddy police work and tampering with the crime scene." Experts testifying for the defense say there is no way the knife could be the murder weapon. Dr. Carlo Torre, a leading forensics expert in Italy, testified that the knife "doesn't match the size or shape of the wounds[…] Sollecito's knife also doesn't match a bloody outline of a knife left on the bedding."According to CNN, Knox's murder trial is entering its final stages, with closing arguments beginning Nov. 20. The jury will begin deliberation on Dec. 4. Currently, there is still no agreement on the key pieces of evidence that prosecutors say convicts her and the defense says clears her.
Curt Knox, Amanda's father said his daughter has cooperated with police and never expected to be implicated. He and Amanda's mother, a Seattle schoolteacher, have taken turns living in Italy. According to Newsweek, Knox told an Italian television audience that his family is in "six-figure debt" in legal and travel bills. He lost his job when Macy's department store in Seattle downsized, and is currently looking for work. The Knox family says they have exercised every available financial resource and now rely on donations to stay afloat.
Furthermore, in the two years since losing their daughter, the Kercher family still has no closure. According to CNN, Kercher's father, John, a journalist who has written about the case for his British newspaper, is writing a book in order to help defray legal costs. The Kerchers have filed a civil suit for $33 million against anyone found guilty of their daughter's murder.
Source
Monday, December 28, 2009
Student off the hook for $50k credit line
A former high-achieving Halifax university student who lost a big chunk of a $50,000 Royal Bank student line of credit by investing in stocks online won’t have to pay up.
Alfredo Jeremy Abdo, 23, has been given an absolute discharge from bankruptcy, said a written decision released Wednesday by a Nova Scotia bankruptcy court.
The Royal Bank was owed $58,200 with interest, on Mr. Abdo’s line of credit, and $2,613 on a separate loan when Mr. Abdo filed for bankruptcy. The bank argued that the former Dalhousie University engineering student should have to make a substantial payment as a condition of discharge from bankruptcy.
A court hearing was held Oct. 15.
Bankruptcy court registrar Richard Cregan disagreed with the Royal Bank and dismissed its argument that Mr. Abdo had filed for bankruptcy to avoid repaying his debt to the bank.
The bank increased Mr. Abdo’s line of credit when it was clear the money wasn’t being used to fund his education, Mr. Cregan said in his decision.
"Clearly, this was not an advance for the aid of Mr. Abdo’s education, but an advance to relieve him from investment difficulty," he said.
"It may also fairly be said that, at least in part, RBC is responsible for the situation. Furthermore, it does not necessarily follow that discharging (Mr. Abdo) absolutely would be an affront to the integrity of the insolvency system."
Mr. Abdo, who had a 4.06 grade point average during his first year studying engineering, later switched to commerce. He quit university after 2½ years.
Somewhere along the line, the scholarship student, who was also athletic and active in fundraising, "did not have the emotional resources to keep it all going," the decision said.
He withdrew into a "comfort zone" and has no gainful employment. He suffers from dizziness and is living with his mother, who supports him, Mr. Cregan said.
"Having observed him, I think it is fair for me to say that he has very serious health problems, and I mean that in the widest sense, the most serious aspect of which is that he does not see that he should seek help."
Mr. Abdo was 19 and had finished his first year at university when he arranged a $20,000 line of credit with the bank. The line of credit, arranged in Aug. 31 2005, is made available to students in professional courses like law, dentistry and engineering who are expected to find well-paying jobs at graduation, said the decision.
Before the end of the year, Mr. Abdo had financial difficulty as a result of money lost on investments and called on his Royal Bank loans officer for advice.
"It appears that, along with his studies, he was seriously involved in online investing and quickly was in over his head."
To solve the problem, the loans officer offered to advance him a further $30,000 on his line of credit, the decision said.
Mr. Cregan questioned if Royal Bank’s actions were prudent.
During the course of his studies, Mr. Abdo had also received two $8,000 scholarships.
"He had a scholarship, which would have covered his tuition. It appears that his lifestyle is modest. He lived at home. I question whether advancing all that money at one time was prudent banking on the part of RBC."
Source
Alfredo Jeremy Abdo, 23, has been given an absolute discharge from bankruptcy, said a written decision released Wednesday by a Nova Scotia bankruptcy court.
The Royal Bank was owed $58,200 with interest, on Mr. Abdo’s line of credit, and $2,613 on a separate loan when Mr. Abdo filed for bankruptcy. The bank argued that the former Dalhousie University engineering student should have to make a substantial payment as a condition of discharge from bankruptcy.
A court hearing was held Oct. 15.
Bankruptcy court registrar Richard Cregan disagreed with the Royal Bank and dismissed its argument that Mr. Abdo had filed for bankruptcy to avoid repaying his debt to the bank.
The bank increased Mr. Abdo’s line of credit when it was clear the money wasn’t being used to fund his education, Mr. Cregan said in his decision.
"Clearly, this was not an advance for the aid of Mr. Abdo’s education, but an advance to relieve him from investment difficulty," he said.
"It may also fairly be said that, at least in part, RBC is responsible for the situation. Furthermore, it does not necessarily follow that discharging (Mr. Abdo) absolutely would be an affront to the integrity of the insolvency system."
Mr. Abdo, who had a 4.06 grade point average during his first year studying engineering, later switched to commerce. He quit university after 2½ years.
Somewhere along the line, the scholarship student, who was also athletic and active in fundraising, "did not have the emotional resources to keep it all going," the decision said.
He withdrew into a "comfort zone" and has no gainful employment. He suffers from dizziness and is living with his mother, who supports him, Mr. Cregan said.
"Having observed him, I think it is fair for me to say that he has very serious health problems, and I mean that in the widest sense, the most serious aspect of which is that he does not see that he should seek help."
Mr. Abdo was 19 and had finished his first year at university when he arranged a $20,000 line of credit with the bank. The line of credit, arranged in Aug. 31 2005, is made available to students in professional courses like law, dentistry and engineering who are expected to find well-paying jobs at graduation, said the decision.
Before the end of the year, Mr. Abdo had financial difficulty as a result of money lost on investments and called on his Royal Bank loans officer for advice.
"It appears that, along with his studies, he was seriously involved in online investing and quickly was in over his head."
To solve the problem, the loans officer offered to advance him a further $30,000 on his line of credit, the decision said.
Mr. Cregan questioned if Royal Bank’s actions were prudent.
During the course of his studies, Mr. Abdo had also received two $8,000 scholarships.
"He had a scholarship, which would have covered his tuition. It appears that his lifestyle is modest. He lived at home. I question whether advancing all that money at one time was prudent banking on the part of RBC."
Source
Tuesday, December 15, 2009
UC regents approve fee hike amid loud student protests
Amid loud student protests that roiled the UCLA campus, the UC Board of Regents this afternoon approved a 32% increase in student fees.
The fee hike of $2,500, or 32%, will come in two steps by next fall. That would bring the basic UC education fees to about $10,300, plus about another $1,000 for campus-based charges, for a total that would be about triple the UC cost a decade ago. Room, board and books can add another $16,000.
Only student regent Jesse Bernal voted against the undergraduate fees.
The noise of protesters came through the window as the regents voted. It was only lightly discussed, with UC President Mark G. Yudof urging that students explore all the financial-aid possibilities so they don’t get scared away or drop out.
Groups of UC students from several other campuses arrived in Westwood to join a demonstration against the fee hike, and a group of protesters was occupying a UCLA classroom building.
UCLA officials declared Campbell Hall, where the sit-in continued, closed for the day. Inside, about 40 to 50 students who had chained the doors shut shortly after midnight were issuing e-mail statements.
“We choose to fight back, to resist, where we find ourselves, the place where we live and work, our university,” their statement said. Campus police surrounded the classroom building, but no arrests were made.
Meanwhile, across campus, a crowd of several hundred gathered outside Covel Commons, where the regents were meeting. Students and UC employees chanted such slogans as “Whose university? Our university!”
Among them was Tommy Le, a fourth-year student at UC Santa Cruz, who left his campus at 3 a.m. today in a convoy of two buses headed south. Le, 21, an American studies major from El Monte, said he was worried about how he being able to afford the higher charges, starting with an additional $585 for the rest of the school year.
“It’s adding more stress and more burden,” said Le, who said he works two part-time jobs and sends money home to help his family. The fee increase, he said, would be “a lose-lose situation.”
Source
The fee hike of $2,500, or 32%, will come in two steps by next fall. That would bring the basic UC education fees to about $10,300, plus about another $1,000 for campus-based charges, for a total that would be about triple the UC cost a decade ago. Room, board and books can add another $16,000.
Only student regent Jesse Bernal voted against the undergraduate fees.
The noise of protesters came through the window as the regents voted. It was only lightly discussed, with UC President Mark G. Yudof urging that students explore all the financial-aid possibilities so they don’t get scared away or drop out.
Groups of UC students from several other campuses arrived in Westwood to join a demonstration against the fee hike, and a group of protesters was occupying a UCLA classroom building.
UCLA officials declared Campbell Hall, where the sit-in continued, closed for the day. Inside, about 40 to 50 students who had chained the doors shut shortly after midnight were issuing e-mail statements.
“We choose to fight back, to resist, where we find ourselves, the place where we live and work, our university,” their statement said. Campus police surrounded the classroom building, but no arrests were made.
Meanwhile, across campus, a crowd of several hundred gathered outside Covel Commons, where the regents were meeting. Students and UC employees chanted such slogans as “Whose university? Our university!”
Among them was Tommy Le, a fourth-year student at UC Santa Cruz, who left his campus at 3 a.m. today in a convoy of two buses headed south. Le, 21, an American studies major from El Monte, said he was worried about how he being able to afford the higher charges, starting with an additional $585 for the rest of the school year.
“It’s adding more stress and more burden,” said Le, who said he works two part-time jobs and sends money home to help his family. The fee increase, he said, would be “a lose-lose situation.”
Source
Sunday, November 15, 2009
Students face £4,000 debt for every extra year of study
STUDENTS in Wales are graduating with an average debt of more than £12,000, new figures showed today.
Welsh undergraduates now owe an average of £4,021 for each year of study, according to the research into students’ finances.
The breakdown of national figures also revealed that amounts owed varied drastically between students attending further education institutes in Wales, England, Scotland and Northern Ireland.
The average debt per year of study in England is £5,271, while students in Scotland and Northern Ireland owe £2,194 and £4,324 per academic year respectively.
The findings – part of the annual Push Student Debt Survey – come as A-level pupils await results that will determine whether or not they will be among the next batch of university students this autumn.
Worryingly, the report also revealed that debt is creeping up year on year, with undergraduates coming to the end of their first year of study expecting to owe £21,200 by the time they leave, compared to the £13,874 owed by those about to complete their third year of study.
Johnny Rich, editor of university information site Push.co.uk, said: “With the economy in recession, students are even more concerned about debt than they have been in recent years.
“Finding part-time work has got harder and many students are facing real financial hardship and are worrying about what lies ahead. Even so, the advantages of having a degree still vastly outweigh the costs and the Push survey shows that – with high quality advice and information – students can keep their debts down while still enjoying the benefits of university.
“These figures will give next year’s review of student funding a real headache. They beg the question whether we’ve now passed the point where students can be expected to stump up any more towards their education.”
From this autumn, tuition fees in England will rise to £3,225 and, in the coming years, students in Wales are expected to be asked to pay an additional top-up amount for every year of their course.
Lleu Williams, deputy president of Wales’ National Union of Students (NUS), said the move to introduce top-up fees could see thousands of Welsh undergraduates rack up annual debts in the region of £5,000.
He told the Western Mail: “It isn’t clear what the introduction of top-up fees in Wales will do to student debt, but it is realistic to say that it will probably equal that of students in England.”
The NUS has spent months lobbying the Assembly Government for the introduction of a national bursary scheme to help cash-strapped undergraduates. Under the proposals, the bursary would cover the cost of university life for the country’s poorest students.
“We believe that this would be the best financial option for students in Wales. It would help offset debt for those most in need,” Mr Williams said.
Under current rules, students can claim for an annual loan to cover the cost of their tuition, plus extra for books, rent and bills linked to everyday living.
However the short-term loans begin to get repaid after a graduate starts to earn a £15,000 salary.
An England-only review of tuition fees is due to commence this year, but will not be complete until after the general election.
A spokesman for the Assembly Government said that in Wales the student finance system has already been reviewed, the results of which were published in March.
He added: “All the evidence shows that those people with higher levels of education earn higher amounts throughout their lifetimes which compensates for the initial investment by the student, however, we are committed to ensuring that financial barriers do not deter potential and existing students from entering higher education.”
Source
Welsh undergraduates now owe an average of £4,021 for each year of study, according to the research into students’ finances.
The breakdown of national figures also revealed that amounts owed varied drastically between students attending further education institutes in Wales, England, Scotland and Northern Ireland.
The average debt per year of study in England is £5,271, while students in Scotland and Northern Ireland owe £2,194 and £4,324 per academic year respectively.
The findings – part of the annual Push Student Debt Survey – come as A-level pupils await results that will determine whether or not they will be among the next batch of university students this autumn.
Worryingly, the report also revealed that debt is creeping up year on year, with undergraduates coming to the end of their first year of study expecting to owe £21,200 by the time they leave, compared to the £13,874 owed by those about to complete their third year of study.
Johnny Rich, editor of university information site Push.co.uk, said: “With the economy in recession, students are even more concerned about debt than they have been in recent years.
“Finding part-time work has got harder and many students are facing real financial hardship and are worrying about what lies ahead. Even so, the advantages of having a degree still vastly outweigh the costs and the Push survey shows that – with high quality advice and information – students can keep their debts down while still enjoying the benefits of university.
“These figures will give next year’s review of student funding a real headache. They beg the question whether we’ve now passed the point where students can be expected to stump up any more towards their education.”
From this autumn, tuition fees in England will rise to £3,225 and, in the coming years, students in Wales are expected to be asked to pay an additional top-up amount for every year of their course.
Lleu Williams, deputy president of Wales’ National Union of Students (NUS), said the move to introduce top-up fees could see thousands of Welsh undergraduates rack up annual debts in the region of £5,000.
He told the Western Mail: “It isn’t clear what the introduction of top-up fees in Wales will do to student debt, but it is realistic to say that it will probably equal that of students in England.”
The NUS has spent months lobbying the Assembly Government for the introduction of a national bursary scheme to help cash-strapped undergraduates. Under the proposals, the bursary would cover the cost of university life for the country’s poorest students.
“We believe that this would be the best financial option for students in Wales. It would help offset debt for those most in need,” Mr Williams said.
Under current rules, students can claim for an annual loan to cover the cost of their tuition, plus extra for books, rent and bills linked to everyday living.
However the short-term loans begin to get repaid after a graduate starts to earn a £15,000 salary.
An England-only review of tuition fees is due to commence this year, but will not be complete until after the general election.
A spokesman for the Assembly Government said that in Wales the student finance system has already been reviewed, the results of which were published in March.
He added: “All the evidence shows that those people with higher levels of education earn higher amounts throughout their lifetimes which compensates for the initial investment by the student, however, we are committed to ensuring that financial barriers do not deter potential and existing students from entering higher education.”
Source
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