University fees could skyrocket under university funding board review

English universities should be allowed to charge students with unlimited fees, according to the suggestions made by a university funding board led by Lord Browne. The review has recommended that the £3,290 cap on fees should be removed and a new model of charges should be introduced, which could reach heights of £12,000 a year. Just as the current system operates, students would receive a loan to pay for the annual fees. Lord Browne said if the plans were to go ahead students would be "paying the same interest rate as the government uses to borrow. They will only pay it back when their earnings go above £21,000".