Many students oppose the plans
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Controversial plans for universities to be allowed to charge students up to £3,000 a year are set to face a rocky ride from MPs on Wednesday.
The Higher Education Bill scraped through its first vote in the Commons in January by just five votes after Tony Blair staked his authority on it.
But as it returns to the Commons, rebel Labour MPs have put down amendments to stop variable top-up fees.
And Tim Yeo, for the Tories, told GMTV they might back one rebel amendment.
He told the Sunday Programme his party would support an amendment by Labour MP Ian Gibson which would strike out Education Secretary Charles Clarke's proposals for English universities to be allowed to charge variable fees of up to £3,000 a year.
Mr Gibson's amendment would retain the plans to introduce maintenance grants and the deferment of payment of fees until after graduation.
But it would hold tuition fees at their current flat-rate level of £1,125 a year, preventing different universities from charging varying amounts for courses, which rebels claim would create a two-tier system.
Blair staked authority on fees vote
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During the Commons debate on Wednesday it is not known which amendments will be called and voted on.
Mr Yeo said: "If there was a vote solely on the issue of variability - if Labour rebels try to replace variable fees with fixed fees - we will not vote in support of that amendment because we are against fees in principle and we don't just want to have fixed fees instead of variable fees.
"But I believe there's a good chance that Ian Gibson's amendment, which takes out several clauses from the Bill and gets rid of fees altogether...if that is called we're happy to support him because he's trying to keep faith with the promise that he and other Labour MPs made to the voters three years ago."
Withdrawal warning
The Conservatives' proposals for the future of university fees and funding would be published "in another couple of months", he said.
"Universities must have more money and more funding and students must have less debt," he said.
"It's going to be a radical proposal but if I told you exactly where the stream of income was going to come from it would divert attention about this week's debate," he said.
Dr Gibson says Labour rebels do not want to see the Bill fall.
Ministers have warned they will withdraw the bill if the rebel amendment was passed.
For the Lib Dems Phil Willis said last week the vote gives "Labour backbenchers a last chance to honour their manifesto pledges and save our universities from becoming a market lottery for future students".