Should graduate employment data be used to decide course funding?

How about, we have a special category of universities who totally abjure research and are strongly geared to vocational training (you know, the sort that junior employees used to pick up on the job as they worked up the ranks, but now they pay £9,000 a year to save the employer the hassle of providing this in-job training). These would cater for many (poly) jobs, many of them technic(al), so we could call these new universities, say, 'poly-technics'. Wow, why did we never think of that before.

Given the massive diversity in UK Universities, we certainly need a better way of allocating funding to individual institutions. What we have to stop is each and every student getting a loan of the same amount £9250, (and the university taking that money) regardless of how much it takes to deliver individual courses, how well their students perform, regardless of drop out rates and employment outcomes. Some Universities are great at Gaming the System to the detriment of others, students, society and tax payers. With Apprenticeships, the funding structure takes into account the cost of delivery, the value added in terms of skill levels and other factors. If we were to use this model on all "skill competence" degrees - including medicine, law, architecture and engineering we could have a funding system that delivered a better return on investment, was more transparent and easier to understand. Radical reform based on variable course funding must be at the heart of the new structure and we need to abandon as quickly as possible the "poll tax" style, one fee fits all, £9250 a year per student mode.