Degree Discount for up-front cash

http://news.bbc.co.uk/2/hi/uk_news/education/5327092.stm

Summary
In the United Kingdom, Gloucestershire University allows a 20% discount for tuition fees for undergraduates who can afford to "pay their three-years' tuition" prior to taking the course. This does not include payments that come from loans and those are unable to pay the one-off fee. This would make "the situation... grossly unfair" and "rewarding richer students for being rich," according to the National Union of Students. The National Union of Students also beleive that the degree discount scheme is not fair because it excludes those who really need the extra funding who can either pay part of the fee or ask for loans.

Connection
Connecting with this article with what we have learned in Accounting 12 helped me find it as a good example of the definition of a cash discount. The undergraduate students, who are potential customers of Gloucestershire University, are able to get a discount if they can pay 2-3 year tuition free in full. The students who ask for loans have not paid the tuition fee with their own money, therefore resulting in paying for the full price gradually. Accountants would see this degree discount as a benefit for the university because the school would be able to use the cash for purposes that can improve the well-being out of school and the students of the University for there is an look in their Bank Account.

Reflection
After reading the article, I think the scheme is a good idea. Everyone should have the advantage of earning discounts when continuing their education. Students who choose to go to university ay have tried to save for their tuition fee but could not save enough to pay for it and get the discount on their own. They would need the help of their parents who use their hard-earned money to be able to obtain the discount. Everyone should get a fair share of earning bursaries to continue their education by looking for ways to do so.