Typo in Book
Nick Ratcliffe has emailed to point out a typo in Table 12.1 (p. 160) of The Great University Gamble. My thanks to him.
The data in that table should read:
Increase in loans for fees and maintenance + 4.3
Cuts to HEFCE budget for UG teaching – 3
Increase to maintenance grants +0.6
TOTAL INCREASED OUTLAY +2
Which results in
Increase in RAB as a result of higher loans +1.33
Cuts to HEFCE budget for UG teaching -3
Increase to maintenance grants +0.6
TOTAL DECREASE IN EXPENDITURE -1.07
Critical Education 
That puts you in the same bracket as Rogoff and Reinhart! Best wishes – Les