1. ITV Report

MPs to scrutinise impact of university tuition fees

Credit: PA

MPs are to investigate the impact of university tuition fees as part of a new inquiry into the student loans system.

The Commons Treasury Committee will look at changes to student fees, loans, repayments and interest rates.

The inquiry comes at a time when university funding is in the spotlight, amid concerns and debate about issues such as student debt and the future of tuition fees.

Nicky Morgan MP, who chairs the Committee said: "Student loan debt is projected to be around £160 billion within six years, and the Government has announced that it will review the whole student finance system. The committee will scrutinise the current system and any future developments closely."

It is not the first committee to announce it is to look at higher education finances.

The education committee said last month it would look at value for money in higher education, including vice-chancellors' salaries, teaching quality and the progress of poorer students at university.

There has been a growing row over how much UK university bosses are paid.

Universities minister Jo Johnson is urging restraint and warning institutions they could be fined in the future if they cannot justify paying their leaders more than the Prime Minister.

Mr Johnson confirmed this week that tuition fees will be frozen at £9,250 next year and the salary repayment threshold for graduates to begin paying back their loans will rise to £25,000 from £21,000.

The Prime Minister Theresa May first announced the plans on the eve of the Conservative Party conference.