Scrapping tuition fees could be affordable, says Million+

Fees could be cut to £6,000 a year or scrapped entirely without any long-term impact on the government's finances, claims think tank Million+.

In a joint report published today with London Economics, a consultancy, Million+ examines the viability of either cutting tuition fees by a third or scrapping the existing £9,000 fee and replacing it with a graduate tax. It claims either model could be introduced without the need for additional government borrowing, so long as other changes are made to the system.

Slashing fees to £6,000 would cost universities £2 billion, although it would save £356m that is currently spent on bursaries and scholarships. Such a move would probably also attract an additional 10,098 full-time and 2,638 part-time students, which would increase the cost to the state of maintenance loans and grants by about £200m.