Oxford, Cambridge universities set for major fee hike

Britain’s famed Oxford and Cambridge universities are set to significantly hike their student fees to cover their rising costs. According to plans under consideration by the Conservative Party, the elite British institutions could be allowed to increase fees to as much as 16,000 pounds a year.

Under points being considered for the Tory manifesto, former higher education minister David Willetts told the Sunday Times that he had held talks with a dozen of Britain’s top universities to explore whether they would want to buy their students’ loan debts and try to collect them. In return, they would expect to raise fees above the current 9,000-pound-a-year limit. ‘There is a long-standing issue with Oxbridge, because their distinctive high model means that the 9,000 pounds does not cover all their costs,’ Willetts told the newspaper.