Theresa May is looking at cutting interest rates on student loans and strong-arming universities into lowering tuition fees in an effort to win back young voters.

Announcements could come within weeks as the Tories try to broaden their appeal at next month’s party conference and the autumn Budget.

Young voters abandoned the Conservatives in their droves at the June general election, after Jeremy Corbyn promised to scrap tuition fees.

One plan being considered is to change the formula through which many graduates pay interest rates of more than 6 per cent – about double the rate of inflation.