Middle-income students who were due to receive government grants have seen them get cut by the government, it has been noted.
Underestimations by the Department for Innovation, Universities and Skills has left a £200 million hole in the sector's budget, leading some 40,000 student to no longer be eligible for the partial grant.
However, universities minister John Denham claimed that the new student funding package would not have an adverse effect on students from the UK's poorest homes.
Government officials have admitted that the financial gap came about because they had underestimated that 40 per cent of university applicants would apply for the full grant.
One of Mr Denham's aides said: "We are saying we need to slow down a little bit to make sure we are not overshooting," the Guardian reports.
Meanwhile, the chancellor of the exchequer Alistair Darling has claimed that there is likely to be a rise in taxes and a cut in spending once the recession has passed.
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