Education Secretary said:
“These concerning figures are further evidence demonstrating why
the increase to tuition fees and the package of reforms I
announced last year were necessary.
“The dire situation we inherited has meant this government must
take tough decisions to put universities on a firmer financial
footing, so they can deliver more opportunity for students and
growth for our economy through our Plan for Change.
“I asked the Office for Student to refocus their efforts on
monitoring financial sustainability last year. Further reforms
are needed to fix the foundations of higher education, and
universities must do more to make their finances work.”
Background:
- We will publish our plan for higher education reform as part
of the Post 16 Skills White Paper in summer 2025.
- While the Office for Students is responsible for monitoring
the financial health of the university sector, the government has
a clear interest in understanding the sector's level of risk.
- The government has refocused the efforts of the Office for
Students on monitoring financial sustainability, to help create a
secure future for our world-leading sector.
- HE providers are autonomous and responsible for managing
their own budgets.
- If there were a risk of financial failure, we would work with
the OfS to protect the interests of students.
