The introduction of more private universities would increase the quality of education by allowing open competition  In the rest of the economy, when consumers are allowed to choose between goods or services, the higher quality products are successful and the bad ones fail. Similarly, when consumers can makes choices between universities, and are putting money on the line (thus taking a risk) they will choose the good universities, and consider the bad universities as not worth wasting their money on. As a consequence, the best universities will expand, and the worst universities will either improve or fail. The New College of the Humanities for example is aiming to rival Oxford and Cambridge1 so helping to provide these two elite institutions with the necessary competition to force up standards. This will result in a higher quality of education being available to more people.  1 BBC News, "Academics launch £18,000 college in London.” 5 June 2011