Let the universities charge whatever they like for a degree and they can compete with each other. Fund the students on a sliding scale from 100% of fees and say £5000 a year for the top 1% (based on both their GCSE and A Level results) sliding down steadily to nothing for anyone outside the top 20%.
The taxpayer wouldn't be wasting their money on people who shouldn't be at university and the students who should be there won't be leaving with huge debts.
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