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Universities: Finance

Question for Department for Education

UIN HL733, tabled on 3 September 2024

To ask His Majesty's Government what steps they are taking to ensure that universities remain and do not close down despite financial difficulties.

Answered on

17 September 2024

The department is committed to creating a secure future for our world-leading universities so they can deliver for students, taxpayers, workers and the economy. The government has already started reviewing options to deliver a more robust higher education (HE) sector but it will take time to get it right.

Sir David Behan has been appointed as interim Chair of the Office for Students (OfS) to oversee the important work of refocusing their role to concentrate on key priorities, including prioritising the financial stability of the HE sector.

However, the government recognises the immediate financial strain that some providers are under and is working closely with the OfS to monitor any risks and to ensure students' best interests are protected.

Ultimately, HE providers are independent from the government and therefore it is their responsibility to ensure they have a sustainable business model.