Australian universities, like their counterparts in most Western countries, have suffered a dramatic reduction in the level of public funding in recent years. One issue on the horizon that is of relevance to students and universities is the latter's exposure to National Competition Policy and, more specifically, the Trade Practices Act. Recent changes to universities, the student experience and the law present new legal options for student redress and new liabilities for universities and individual staff. In this paper, I ask whether appealing to the Trade Practices Act is an appropriate strategy for responding to "deregulation" of universities, funding cuts and the associated decline in the capacity of universities to deliver quality education.