STUDENTS at Liverpool University have secured a rent reduction worth nearly £4 million in what is thought to be the biggest single rent cut for students in history.

Liverpool Guild of Students president Rory Hughes announced the results of negotiations with Liverpool University management today.

The Cut the Rent campaigners have reached an agreement with bosses that any student with a full bursary will receive an £800 discount on rent for university-owned halls.

This is expected to put an annual £3.7 million back into the pockets of some 1,150 students — about 25 per cent of all halls students.

And rent rises will be capped to a maximum of 3.5 per cent until at least 2023 to keep rent in line with student loans.

Students and management have agreed that the guild will have “meaningful input” on how much rent is charged to halls students, which is expected to lead to further rent reductions.

And it was also agreed that academic sanctions would be abolished, so students will no longer be barred from the library for not being able to pay rent.

Before negotiations began, the average rent of a Liverpool student was £158 per week and was set to rise to £165 per week for the 2019-20 academic year.

One in six students falls into rent arrears each academic year and faces academic sanctions from non-academic debt from university management as a result, student union reports found.

Liverpool University student Faisal Yousif told the Star: “King Rory, he should be called. He has absolutely smashed it on this.”

Mr Hughes told the Star: “There is power in a students’ union — that is the key message from this announcement.

“After a sustained local student-led campaign, with support from the NUS and the student Rent Strike collective, we have secured the largest ever rent cut for students in UK higher education.

“Universities need to follow this example and take serious steps to address their rip-off rents and the affordability crisis in student halls.

“Until they do, Cut the Rent campaigns will continue to be established on every campus and will continue to win!”