'Rip-off' degrees will be scrapped under a new law to boost young people's life chances, Rishi Sunak has pledged.

One in eight students could see their course axed in a bid to cut down on 'Mickey Mouse' degrees and pay for 100,000 apprenticeships.

A new law will grant powers to the Office for Students, the independent regulator of higher education, to close underperforming courses and stop students being 'sold a false dream'. 

This would lead to the number of university places available decreasing by 130,000, yet the Conservatives argue that one in five graduates would have been better off not going to university. 

Drop-out rates, job progression and earnings potential will all be assessed to determine the worst courses and force them to close.

'Rip-off' degrees will be scrapped under a new law to boost young people's life chances, Rishi Sunak has pledged

Conservative modelling has estimated the measures will generate £910 million by 2029/30, by reducing the number of student loans which are never paid back. 

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Low-achieving pupils should be banned from taking out student loans, MPs claim as they criticise 'Mickey Mouse' courses being funded by the taxpayer

This is based on an analysis of 13 per cent of the student cohort, which the party says is a conservative estimate of the impact once changes are enforced.

It would also be a way to incentivize universities to create courses that support apprenticeships and help meet the needs of young people.  

The Prime Minister said last night: 'Improving education is the closest thing we have to a silver bullet for boosting life chances. So, it's not fair that some university courses are ripping young people off.

'Thanks to our plan, apprenticeships are much higher quality than they were under Labour. And now we will create 100,000 more, by putting an end to rip-off degrees and offering our young people the employment opportunities and financial security they need to thrive.'

Currently £1 of every £4 borrowed in student loans is never paid back, leaving the government constantly footing the bill, and increasingly reliant on foreign students. 

It came as:

• Police said they would take no further action against Angela Rayner following a probe into her living arrangements – but she risked another row after saying Labour will recognise Palestine;

• Labour pledged to clear 3.2million people from hospital waiting lists;

• Shadow Chancellor Rachel Reeves declined to say she was 'a socialist', calling herself a 'social democrat';

• Labour was ridiculed for publishing a letter from 121 business backers that included not one FTSE 100 boss;

• Diane Abbott had the Labour whip restored – but only as a gesture of goodwill to allow her to retire as an MP;

• BBC News presenter Geeta Guru-Murthy had to apologise after she accused Nigel Farage of using 'customary inflammatory language'.

The Tories said yesterday that 70 per cent of jobs can now be accessed with an apprenticeship in sectors such as nursing, teaching and even space engineering.

Education Secretary Gillian Keegan said: 'There are no limits to where an apprenticeship can take you. Mine took me from a car factory in Kirkby to the Cabinet. The choice is clear'

Education Secretary Gillian Keegan said: 'There are no limits to where an apprenticeship can take you. Mine took me from a car factory in Kirkby to the Cabinet. The choice is clear. 

'Sir Keir Starmer and the Labour Party who have contempt for apprenticeships, or Rishi Sunak and the Conservatives who have a clear plan to give young people the best start to their careers.'

But Labour's education spokesman Bridget Phillipson said the plan was 'laughable', adding: 'Why on earth should parents and young people believe they'll create training opportunities now, after 14 years of failing to deliver for young people?'

Last summer, the Government announced that universities offering 'Mickey Mouse' courses would be subject to strict controls to protect students and taxpayers. Ministers vowed to place a cap on the number of students on these courses.