Good news! Undergraduate degrees will soon be £5,000 cheaper

Undergraduate degrees at UK universities are going to cost £5,000 less, according to the universities minister Jo Johnson.

Students will be offered the opportunity to condense their course into "accelerated" degrees, only taking two years to complete and costing 20 per cent less than a standard three-year course.

However, universities will be able to charge a £2000 premium on top of the usual £9250 per year.

This comes after universities worried that the extra costs on them to provide these shorter courses wouldn't make it worthwhile.

Tuition fees for the two-year course will cost around £22,000 in total. Cheaper than the current total for a three-year course and even more so when factoring in savings on reduced living costs for an extra year of study.

The extra £2,000 per year is hoped to encourage universities to offer the programme, which will also save the taxpayer money.

The deal still needs to be passed by parliament, but if it is, students could see this new option as early as September 2019.

Second year Warwick student, Elliot Mulligan commented: "While students will be left with a smaller overall debt, which is undoubtedly a good thing, I'm concerned that a shorter degree may not leave enough time for proper academic development.

"I'm one third of my way into my second year and I feel that doing a three year degree gives me time to develop my thinking naturally, rather than rushing through a course as quickly as possible, no matter how much is costs."