By Angela Harrison BBC News education reporter Record numbers are applying to university Three quarters of England's universities are facing real-term budget cuts this year - for the first time since Labour came to power.University funding body Hefce has told institutions how much they will get next year from a fund of £7.3bn - £449m less than the sector was expecting. Unions are warning of job losses and of thousands missing out on places. The government says the figures "do not show a system in crisis" and that the sector needs to tighten its belt. After years of rising investment, the government announced just before Christmas that universities would be getting less in the next academic year because of the pressure on public sector finances. UNIVERSITY FUNDING BBC News website is looking at higher education in a series of features: Which university gets what $200,000 for a degree? More students but who will pay? And last month the body which handles university funding in England for the government, Hefce, said there would be £449m less, with the biggest savings being made in teaching budgets, which would fall by 1.[Read more...]