University tuition costs could be cut to £6,500 if proposals from a commission established by Theresa May are to be implemented. An early draft suggests cutting tuition fees to between £6,500 and £7,500 a year, with the shortfall made up by the Treasury.
This follows the increase in tuition fees which were tripled to £9,000 in September 2012, and increased to £9,250 in 2016.
To implement this proposal, the Treasury would have to budget £3 billion a year which may lead to a cap on student numbers or a third less income from fees for universities. This has been criticised by university vice-chancellors, politicians and higher education experts who warn that this could threaten social mobility and force struggling institutions to close.
The proposals for a reduction in tuition fees follows Jeremy Corbyn’s pledge to abolish tuition fees which has won support from young voters in last year’s general election.