UNIVERSITIES are to offer fast-track degrees which will leave students up to £25,000 better off.
New two-year courses will have the same qualification and quality as the standard three-year study.
Those who sign up for an “accelerated degree” will pay a fifth less in tuition fees, saving them £5,500 plus a year’s housing and living costs.
When added to the average salary of £19,000 for a new graduate, it could deliver a potential benefit of £25,000.
It will be welcomed by thousands of teens from poorer backgrounds who are eager to start work and earn a salary.
As a trade-off, universities will be given the go-ahead to charge up to 20 per cent more a year for a shorter degree course.
The new fee limits, set out in the Government’s response to the consultation published tomorrow will be subject to parliamentary approval.
Universities Minister Sam Gyimah said: “Accelerated degrees not only make it possible for the next generation of students to access higher education and the undeniable financial, academic and personal benefits it has to offer but drives the sector to offer dynamic choices that serve students’ needs.
“Providers will be able to tap into a new market of students, particularly mature students and those who commute, who were previously locked out of higher education.
“This provision creates a new arena of competition that delivers for students, taxpayers and employers.”
Concerns have been raised about the impact shorter courses could have on issues such as university staff contracts and research.
Students choosing accelerated courses have to work more intensively, while their holidays would be significantly shorter than on traditional degree programmes.
Chief executive of the Russell Group, which represents 24 UK universities, Dr Tim Bradshaw, said: “Greater choice for students is always good but I would caution ministers against over-promising.
“The Government’s own projection for the likely take-up of these degrees is modest and we actually hear many students calling for four-year degrees, for example, to spend a year on a work placement or studying abroad.
“I wouldn’t want disadvantaged students to rule out a traditional three-year course because they didn’t believe they could afford it.
“Upfront support with living costs is available and graduates repay their student loans based on their earnings.
“Doing a more compressed degree also reduces the opportunity for part-time work, potentially increasing short-term financial pressure.”
The Accelerated Degrees Government consultation, which closed in February, said: “Our aspiration is for the number of students enrolled on accelerated degree courses to build over the next decade to around 5% of the total undergraduate population, and for an additional 100,000 students to have studied on this basis over that period.”
Matt Waddup, head of policy and campaigns at the University and College Union, said: “This is not about increasing real choice for students, it about allowing for-profit companies to access more public cash through the student loans system.
“Accelerated degrees will quickly become devalued but the government shows no signs that it understands this.
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“Instead of gimmicks which risk undermining the international reputation of our higher education sector, the Government should focus on fixing the underlying problems with our current student finance system, which piles debts on students.”
Shadow education secretary Angela Raynor urged the Tories to scrap tuition fees, which were introduced by the last Labour government.
She said: “Instead of increasing annual tuition fees, the government should be matching our pledge to abolish them entirely.”
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News Pictures Universities are to offer two year fast-track degrees which will leave students up to £25,000 better off
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