Higher Education: Finance

Department for Education written question – answered am ar 4 Ebrill 2024.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of The Bishop of St Albans The Bishop of St Albans Convenor of the Lords Spiritual

To ask His Majesty's Government what assessment they have made of the PwC report UK Higher Education Financial Sustainability Report, published in January.

Photo of The Bishop of St Albans The Bishop of St Albans Convenor of the Lords Spiritual

To ask His Majesty's Government what plans they have to support universities who are facing bankruptcy.

Photo of The Bishop of St Albans The Bishop of St Albans Convenor of the Lords Spiritual

To ask His Majesty's Government what assessment they have made of the levels of debt in UK universities.

Photo of Baroness Barran Baroness Barran The Parliamentary Under-Secretary of State for Education, Lords Spokesperson (Equalities)

Higher education (HE) providers are autonomous institutions responsible for their own financial sustainability. The department’s role and priority is to work with the Office for Students (OfS) and other stakeholders as appropriate to protect students’ best interests.

The OfS is responsible for monitoring the financial sustainability of registered HE providers in England. Its latest report on the financial health of the sector, which was published in May 2023, found that the overall aggregate financial position of universities was sound. However, there continue to be quite significant differences between individual providers, both across the sector and within peer groups.

The department will continue to work closely with the OfS and many parties including a variety of HE providers across the sector, mission groups and other government departments to understand the ongoing impacts and changing landscape of financial sustainability in the sector.

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