I very much agree with Emptyshell in relation to some sort of system that would assess the relative academic value of a course - perhaps there could even be a sliding scale of funding - degrees that lead to qualifications that we desperately need as a society - medical degrees, nursing and teaching qualifications etc are fully funded, other degrees partially funded, and degrees that have no practical application not funded at all.
It is a great shame that funding is being cut, but the bottom line is that we can't afford to continue to fund everything that we have funded in the past. As a country, we have to tighten our belts and higher education is, in my view, a legitimate target for some sort of cutback. But any cuts need to be supported by an alternative qualification model for those who don't go on to higher education. I think that it is right to say that degrees have been hugely devalued by the idea that everyone should go on to university. If we diverted people away from degrees that ultimately are not going to help them get a job, and into practical courses and apprenticeships, we save money and improve the skills base in the country.
Not everyone is academic, but we have a situation where people expect to go on to university regardless of academic level, and probably feel that others expect them to do so. Someone who struggles academically but is very good with their hands would almost certainly be happier and more successful apprenticed to a master carpenter, for example, than pushing themselves through a course on history of carpentry.
I think that, as a country, we are a bit like the children of a well-off family who suddenly find that they can't afford the things they have always enjoyed, because dad (or mum) loses his job. Just because we have had something in the past, does not mean that we can afford to have it now.
As regards to the protests, a protest that turns violent is always going to do more harm than good. However it happened, I think this riot or whatever you want to call it, was a waste of time. I am shocked at those who think that the violence is in any way justified. I have represented many "professional" protesters over the last few years. Many of them attend protests of this sort with a pre-arranged plan of how to try to push the police into misconduct and catch them on video. They will use violence, verbal abuse, whatever it takes. They are a spectacular pain in the backside and waste public money and court time. It is a great shame that some students clearly got themselves sucked in.