Northumbria University is currently the only UK institution to offer the exempting LLB, a four-year course that integrates a law degree with either the LPC or the BVC.
Students are charged slightly more per year than those on traditional LLB courses, but the university estimates that the course still costs £3,000 less than a three-year law degree plus an LPC or BVC.
Professor Phil Kenny, head of Northumbria's law school, said it is highly likely that interest in the degree will rise if the Government allows universities to charge higher fees.
"There is now considerable interest both in the Bar Council and the Law Society in developing the exempting degree model," he said.
Economics caused the Government to restrict the development of the four-year course to Northumbria in
the early 1990s, but this reason will be invalid if universities are given free rein to charge students what they want.
Chief executive of the Law Society Janet Paraskeva said: "The course has the advantage of being cheaper than the usual degree and LPC route. It may be a model which other universities might wish to consider."