The sector of higher education is facing unprecedented disruption. However, a vast range of funding models signifies that some of the institutions are outperforming others, according to Rachel Willcox’s reports.
The market has become increasingly competitive; there is a decline in the number of students, pensions deficits. At the same time, the universities in the UK are facing a severe scenario, which is gradually increasing over time. The experts of the UK feel that the education sector is facing is neck deep in a financial crisis.
In the year 2010, Lib Dem from the Conservative party announced that the maximum capitalization based on tuition fees in England would increase to £9,000. The reforms saw that the tuition fees are going to replace the funds provided by the public to oversee capital investment and teaching.
Ever since 2010, the grant funding and the tuition fees have gradually failed to keep up with the inflation & rising costs. And now the universities are facing huge problems due to the high rates of uncertainty. The education sector has not gone through financial difficulties since the ‘80s.
There is also a question about the future relationship of the United Kingdom with the EU. It also raises the possibility of the non-transaction for leaving the European Union. These are mostly the reason why at present the future of British universities is uncertain.
The Office of Students also published a financial sustainability report for higher education in the country. The report also failed to vouch for the imminent doom of HEPI.
CIPFA’s analytics and research head, David Caplan said that there are numerous varieties of funding models. Furthermore, this signifies that some of the institutions around the country are placed in a better scenario than others. Caplan also said, the universities are a diversified group of institutions with unique funding structures, and this allows most of the universities from going through a similar kind of financial pressure.
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