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Â鶹´«Ã½ÊÓƵÍøÕ¾, Â鶹´«Ã½ÊÓƵÍøÕ¾U and Â鶹´«Ã½ÊÓƵÍøÕ¾, Cut the Rent (Â鶹´«Ã½ÊÓƵÍøÕ¾-CTR) have today announced they have reached an agreement that will end the current rent strike, which has been running since January this year.

ÌýÂ鶹´«Ã½ÊÓƵÍøÕ¾'s offer, to make available £350,000 for the academic year 2016/17 to fund accommodation bursaries for those students in most need of financial support, to freeze rent for 2016/17 and to reduce rent for some rooms, has been accepted.

This new bursary is in addition to the existing bursary scheme and hardship funds operated by Â鶹´«Ã½ÊÓƵÍøÕ¾ and in the subsequent academic year, 2017/18, Â鶹´«Ã½ÊÓƵÍøÕ¾ will expand the funding for the accommodation bursary scheme to £500,000. Â鶹´«Ã½ÊÓƵÍøÕ¾, Â鶹´«Ã½ÊÓƵÍøÕ¾U and Â鶹´«Ã½ÊÓƵÍøÕ¾-CTR will work together to agree the details in the coming weeks.

This also adds to the steps Â鶹´«Ã½ÊÓƵÍøÕ¾ took earlier in the year, freezing and reducing rents for its lowest priced rooms, around 30% of Â鶹´«Ã½ÊÓƵÍøÕ¾ accommodation.

Rex Knight, Â鶹´«Ã½ÊÓƵÍøÕ¾ Vice Provost, said: "We welcome this outcome, which has come about as a result of positive negotiations between Â鶹´«Ã½ÊÓƵÍøÕ¾, Â鶹´«Ã½ÊÓƵÍøÕ¾U and Â鶹´«Ã½ÊÓƵÍøÕ¾-CTR campaign. From the outset we have appreciated that affordability is a big issue for our students, and a challenge for a university based in the heart of central London. The new bursaries we have announced will make a significant difference to all students in greatest need, and will help ensure that Â鶹´«Ã½ÊÓƵÍøÕ¾ remains an institution open to all".

Angus O'Brien, Â鶹´«Ã½ÊÓƵÍøÕ¾U Halls Accommodation Representative, stated: "It is unlikely that concerns regarding access to education at Â鶹´«Ã½ÊÓƵÍøÕ¾, as well as across London and beyond, will be entirely addressed in the short-term. Today's announcement is a welcome step forward in ensuring higher education becomes more accessible to students from all backgrounds."

Â鶹´«Ã½ÊÓƵÍøÕ¾ will waive the late payments charge on all accommodation accounts that are paid off by 24th June 2016.