Oxford is seeking to take on its Ivy League rivals such as Harvard Oxford University is set to open its first new college in almost 30 years, as it seeks to take on its Ivy League rivals.The university’s five year draft strategic plan, seen by The Daily Telegraph, contains proposals to build 1,000 graduate rooms and “at least one new graduate college”.This would be the first new college since 1990, when the graduate-only Kellogg College was established. The plans, which have been backed by the university’s governing body, must now win the approval Oxford’s dons.Under the plans, the intake of postgraduate students would increase by 850 a year by 2023, while undergraduates would increase by 200 a year.–– ADVERTISEMENT ––Nick Hillman, director of the Higher Education Policy Institute, said: “Oxford and Cambridge say they lose money on every undergraduate whereas for post graduates you can charge the full market rate and more. “Oxford doesn’t compare itself to other institutions in the UK, it compares itself to other institutions around the world such as Ivy League which have more graduates than undergraduates.” Undergraduate fees are capped at £9,250, but Oxford chiefs have argued that its true cost of teaching a student is closer to £16,000 due to the intensive one-to-one tutorial model it operates. David Palfreyman, bursar at New College, Oxford, said: “The key US competitors are usually smaller than Oxford or Cambridge, especially at undergraduate level.”He said that being “a world class university and a super research university a la Harvard, Stanford, Yale, Princeton” requires a bigger cohort of post graduate researchers.The strategic plan also sets out a desire to “set ambitious targets” to “reduce by 2023 gaps in attainment by gender, ethnic origin and socio-economic background”.It also wants to “substantially increase” the number of undergraduate places offered to students from groups who are currently under-represented.A spokesman for Oxford University said the plans are under consultation, adding: “The University will comment more fully when its plan has been widely reviewed and formally adopted.” Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily Front Page newsletter and new audio briefings.