The University of Buckingham is cutting its tuition fees on selected courses, saying the “time is right” to offer discounts, given the ongoing conversations about “value for money” in higher education.

Several accelerated business and management programmes – along with one in English and creative writing – will be eligible for an offer that could allow students to save 45 per cent compared with a traditional three-year degree at a rival university.

Annual fees will be £7,830 and cost a total of £15,660 across the two years. This compares with £28,605 spent on a degree if a student is paying the full £9,535 yearly tuition fee.

Founded in 1976, Buckingham is the UK’s oldest private university and launched the offer to mark its 50th anniversary. It has long been known for its accelerated courses that offer a chance to complete a bachelor’s programme in a shorter space of time.

“It seemed to us the time was right, given all the wider debates around value for money and the student cost of living, that we offer something up in terms of getting those headline fees down to what is for us the lower limit available on the student loan,” Chris Payne, registrar and chief administrative officer at Buckingham told Times Higher Education.