The Russell Group, which consists of the top twenty research Universities in the UK, has announced that it would like to see the tuition fee cap lifted completely.

Currently, the cap stands at £3,225 p/a, a price that has caused controversy in the past with some saying it should not even be this high. Now, with a new government in power it looks like a raising of the cap is almost inevitable, something that is one of the compromises the Liberal Democrats have made as part of a coalition agreement.

Consequently, the Russell Group's direct pleas to the government have been timed well, from their perspective. It has put pressure on the government to simply go the whole way and lift caps all together. This would of course mean that Universities would be able to charge whatever they like and also more for different courses depending on their "value" and, most likely, popularity.

The Russell Group insists that this is the "most effective and efficient way" of ensuring the quality of UK higher education. However, critics have said that it will leave future graduates in a considerably worse financial situation than those graduating this year who are already feeling the sting of an economic recession.

A similar system is in operation in the United States with some Universities charging up to $50,000 a year. The US higher education system has been accused by some of being elitist, only allowing the rich to reach their full potential.

The most relevant and important people to ask is of course the students. So what do you think? Is a cap lift justified because it will greatly improve the standard of our Universities, or is the lift going to increase class divides and prevent many from reaching the careers that they deserve?

Comment below.