Oxford University chancellor hopeful William Hague has warned that tuition fees could be on the rise.

The 63-year-old was leader of the Conservative Party and the Leader of the Opposition from 1997 to 2001 during Tony Blair’s time as Prime Minister.

He has thrown his hat into the ring to become the new chancellor of the University of Oxford where he was a student at Magdalen College.

Lord Hague has warned students there could be an upcoming rise in tuition fees during a chat with The Times.

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Lord William Hague was formerly the leader of the Conservatives.Lord William Hague was formerly the leader of the Conservatives. (Image: Naomi Gabrielle Photography / News UK / PA Wire)

“Universities have to be on a sustainable financial footing, which is why the chancellor has to be engaged in bringing in endowments and philanthropic support so Oxford can remain at the front rank of world-leading universities,” he said.

“There is going to have to be some serious reform over the coming years of how universities are funded. It might involve some rise in tuition fees.

“If that is the case, it’s vitally important to keep a university like Oxford open to people irrespective of background.”

Studying Philosophy, Politics and Economics (PPE) at the university in the 1970s, Lord Hague looks back fondly at his time in the city.

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“I was involved in lots of societies and elections, as president of Oxford Union I spent most of my time running for election, which was a big part of my political education because that’s where I learnt my trade," he added.

“I was very preoccupied with those things and wasn’t that busy academically, but I put in a big spurt academically at the end and ended up with a first.

“It was quite a spurt, it was a huge effort.”

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