Theresa May’s former chief of staff criticises higher education debts ahead of A-level results day

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TODAY is one of the most important days in the education calendar for young people.

Thousands of students in the UK are set to receive the results of their A-levels – and reporters from The News will be at colleges and sixth form schools across the city and in Havant, Waterlooville, Fareham and Gosport.

We’ll bring you all the latest news as we get it, plus the national picture.

And the results day comes as Theresa May’s former chief of staff, Nick Timothy, has said the ‘unsustainable and ultimately pointless Ponzi scheme’ that higher education has become is burdening graduates with debts, and must be radically reformed.

He said many school and college leavers receiving their A-level results today are being ‘forced’ into expensive degrees that fund a ‘gravy train’ for university bosses.

The adviser warned that without reform the system will continue to ‘blight young people’s futures’, leaving them carrying ‘millstone’ debts of £50,000 - the majority of which will not be paid off.

Mr Timothy supported a system proposed by education policy expert Professor Alison Wolf of offering a ‘single financial entitlement’ to school-leavers.

As well as university degrees the repayable funds could be spent on technical courses with fees capped at a lower level.

This would tempt students away from poor-quality degrees while increasing competition among universities - which would have to lower fees as a result.