Having a degree will soon cause more trouble than good, with predictions that student debt will treble to 70 billion pounds in the next four years.
An official report claims that ministers have undeestimated the amount of universities that plan to charge the maximum for fees.
Aaron Porter, president of the National Union of Students, knows where the blame lies. He told the Daily Mail: 'Nick Clegg said before the last general election that we cannot build a future on debt but the changes he championed mean that the amount that graduates are in debt to their government could almost treble in just four years, hindering their chances to borrow for other purposes, to save for their futures or even for a pension.'
Meanwhile, Gareth Thomas, Labour's universities spokesman, said: 'The Public Accounts Committee have confirmed the Government's sums could be wrong by several hundreds of millions of pounds and that the next generation of students are facing a £70billion debt bill to pay for the unfair and unnecessary decision to treble tuition fees.
'This is the latest independent report to call the Government's plans into question. David Cameron and David Willetts need to use the coming white paper on the future of higher education to signal a substantial rethink.