Yesterday, the Sunday Times reported that Philip Hammond is looking at capping annual charges at £7,500 instead of the current level of £9,250.
Other proposals being considered include cutting the 6.1% interest rate on student loans, which rose from 4.6% this month, and charging different fees depending either on the subject or graduate employment rates.
Tuition fees for English universities trebled to a maximum of £9,000 a year in 2012 and last year the government announced could be increased in line with inflation.
In response to the possibility of a change in tuition fee policy, shadow education secretary Angela Rayner, said: “Labour has long been calling for the government to take action on rising student debt, including rethinking their eye-watering interest rate hikes and raising the repayment threshold for graduates.
“They need to stop talking and get on with it.”
Rayner urged the chancellor to back a vote in parliament this week, which seeks to reverse the most recent rise in tuition fees.
A Treasury spokesman, however, said the department it would not comment on speculation.
