10,000 wealthy students would have to be denied access to top universities each year in order to meet the regulator’s equality target, a study has found. The higher education watchdog, the Office for Students (OfS), has set an ambitious goal for Russell Group institutions to "eliminate" the gap in admissions between wealthier students and their less well-off peers within 20 years. But unless universities rapidly expand the number of places they offer, this would mean effectively capping the number of middle class students they admit, according to an analysis by the Higher Education Policy Institute. Their analysis found that it would take almost a century for the gap to close altogether, based on the progress that has been made over the past five years in closing the gap in admissions between rich and poor. The report's lead author, Lee Elliot Major, a professor in social mobility at Exeter University, models the different ways that the OfS target could be achieved within the … [Read more...] about 10,000 wealthy students would have to be denied access to top universities each year to meet equality targets
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The interest-only timebomb is ticking away for more than 1.6 million householders. And unless they do something soon, many of them could find their home blown away by the blast. The Financial Conduct Authority has already warned “significant numbers” risk repossession when they reach the end of their mortgage – and see what a mess they are in after years of paying the interest but not the debt. The next peak, when hundreds of thousands of borrowers will have to find the cash to pay off their loan, is 2027/28 and then again in 2032. To find an affordable way to repay the average £130,000 outstanding interest-only mortgage in the next 10 to 15 years, homeowners must act now. There are options to repay, or at least reduce your balance, depending on how much extra you can repay. Read More What you need to know about mortgages Andrew Hagger, of personal finance website Moneycomms.co.uk, said: "Avoid doing nothing at all costs. Make your move now, rather than burying … [Read more...] about Homeowners with interest-only mortgage deals must act now to beat ticking timebomb – your options explained
FIRST-TIME buyers don't have to live in a dive to get onto the property market as we reveal in this round-up of new builds available with just a 5 per cent deposit. The government's Help to Buy equity loan scheme lends up to 20 per cent of the home's value - or 40 per cent in London - as long as you can put down a deposit of at least 5 per cent. First-time buyers then take out a mortgage as normal for the remainder of the cash. For example, you put down a 5 per cent deposit, the government gives you a loan for 20 per cent, and then you get a mortgage for the remaining 75 per cent. This is particularly useful to first-time buyers who can't get a big enough mortgage based on their salary, despite having enough for a deposit. The catch is that the scheme is only available on new builds, and while the government loan is interest-free for the first five years, after the five years you'll be charged 1.75 per cent interest, which will increase by inflation, plus 1 per cent.What help is out … [Read more...] about Inside the most popular homes for first-time buyers where only a 5% deposit is needed
Democrats unleashed their most direct and personal attacks on one another of the 2020 election during Thursday night's presidential debate in Houston, with attacks based on age, ideology, and the legacy of Barack Obama. With increased urgency of top-tier candidates to distinguish themselves, and for lower-tier candidates to rise to close the gap from behind the top three poll leaders, contenders threw jabs in multiple directions at the third debate, with health policy as the chief battleground. Sanders went after Biden early on for having attacked his own Medicare for All plan for its explosive $30trillion price tag, claiming the status quo would cost even more. 'Well, let me tell you something, for a socialist, you got a lot more confidence in corporate America than I do,' Biden told Sanders, a self-described Democratic Socialist who caucuses with Senate Democrats. Former Housing Secretary Julián Castro, 44, tore into Biden, 76, appearing to question his memory during an angry … [Read more...] about The Democrats’ family feud: Insults fly as the top 10 candidates go head-to-head for the first time with Joe Biden targeted for his age, bitter disputes over healthcare and candidates wrestling over who is the TRUE heir to Obama
In the House of Terror, one of Budapest’s most popular tourist attractions, two mannequins’ torsos stand back to back on a rotating platform, one wearing the uniform of Hungary’s communist secret police, the other that of the Arrow Cross fascist party. They bear mute testimony to the traumas of 20th-century history in this corner of Europe. Mária Schmidt, the museum’s director, says she would like to show her display to Angela Merkel, the German chancellor, thus reminding her that in 1945 Hungary was occupied by the two most brutal totalitarian regimes of the last century in the space of a single year. This would, she believes, explain why the country remains fiercely proud of its independence and suspicious of “neocolonial attitudes” towards eastern Europe from Brussels. “We are Hungarians, and we want to preserve our culture,” Schmidt says, sitting in the museum’s boardroom. “We don’t want to copy what the Germans … [Read more...] about Can Europe’s new xenophobes reshape the continent?