The government's attempt to run an online university has been described as a "disgraceful" waste of money by a committee of MPs.

According to the Commons education and skills select committee, tens of millions of pounds were thrown down the drain.

Costing some £44,000 per student, it proved more expensive then either Oxford or Cambridge and ran up a bill of some £50 million.

Committee chairman Barry Sheerman said the scheme was "a terrible waste of public money".