The BBC's Education Editor, Branwen Jeffreys, investigates how the fallout from a fiscal illusion will impact the future of over-18s education in England.

Universities in England are steeling themselves for a big hit on their finances. A recent ruling on how the government records student loans is set to add £12 billion to the deficit - and a wholesale rethink of how we finance over 18s education is needed to help balance the books.

In this two-part series, the BBC's Education Editor, Branwen Jeffreys, investigates what this will mean for the future of Higher and Further Education in England.

Have we reached "peak university"? Are caps on student numbers inevitable? And could any tightening of the purse strings mean some colleges and universities will go bust?

Presenter: Branwen Jeffreys

Producer: Will Yates

A Whistledown production for BBC Radio 4