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<p>The Government has noted the recent report by the Institute for Fiscal Studies.</p><p>
</p><p>The student funding system is fair and sustainable. The cost of the system
is not an unintended loss, nor a waste of public money. It is the policy subsidy required
to make higher education widely available, achieving the Government’s objectives of
increasing the skills in the economy and ensuring access to university for all with
the potential to benefit.</p><p> </p><p>Andreas Schleicher of the OECD said in September
2016 that “the UK has been able to meet rising demand for tertiary education with
more resources…by finding effective ways to share the costs and benefits”.</p><p>
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