Plans to freeze tuition fees at £9,250 and raise the repayment threshold to £25,000 have been announced by Theresa May, ahead of a speech at the Conservative Party Conference in Manchester later today.

Prime Minister Theresa May: “We are going to act to offer a fairer deal for students and young people.” Photo: EU2017EE Estonian Presidency/Flickr.

Speaking to The Sun on Sunday, the Prime Minister said: “Too many young people fear they are going to be worse off than their parents.

“We have listened to those concerns and we are going to act to offer a fairer deal for students and young people.”

At present, graduates can earn up to £21,000 before they start loan repayments.

With the planned £4,000 increase in the limit, the Government claims the move will see graduates save £360 in 2018.

Meanwhile, the pledge to freeze tuition fees comes after they increased from £9,000 to £9,250 earlier this year. The cap would also prevent a further rise to around £9,500 next year in line with inflation.

In response to the news, Angela Rayner MP, Labour’s Shadow Education Secretary, said the proposals show ‘just how out of touch [Theresa May] is’.

“Another commission to look at tuition fees is a desperate attempt by the Tories to kick the issue into the long grass because they have no plans for young people and no ideas for our country. They are yesterday’s party,” she said.