Well, any UK based prospective University students might do well to consider English at Leeds. I'm working with a graduate from there who tells me that Tolkien is a major area of study there. Wonders will never cease - an English University that considers Tolkien serious enough to study!

Not only that, but fellow students wrote whole dissertations on Tolkien.
Looking on their website, the following modules are available:
One which includes LotR as a required text, and Shippey as further reading:
Romance, Ballad and Fairy Tale
Three other Tolkien-friendly courses are also available:
Arthurian Legend: Chivalry and Violence
Beowulf
Old Norse Mythology
Of course, both Tolkien and Shippey taught here, so there must be a considerable influence due to their scholarship; but back in 1989 they did not offer this range of courses.