We need to rethink how we fund higher education
The world is changing fast: how we work; create, share and receive knowledge; deliver value; and connect to people around the world. Our higher education system and the way we fund it needs to adapt to the rapid pace of change as individuals and the economy place new and changing demands on how and what it delivers.
We have developed a framework for building a robust funding system that puts higher education on a sustainable and flexible footing. Our proposed funding system will:
- Re-direct government funding back into teaching, resulting in lower fees
- Reform student support to target those most in need
- Increase access and support for students who learn while in employment
- Use a progressive, income-contingent repayment system
- End the one-size fits all approach
- Introduce a single regulatory system
- Be genuinely flexible, expandable and market-driven – able meet the needs of our future economy
- Re-establish the Government–student contract
- Be cost-efficient for Government
We will be developing our framework collaboratively with Vice-Chancellors, economists and experts from across the sector and outside HE, in the UK and overseas.
Over the next few months we will be holding sessions to engage as many people as possible to identify a funding system for the UK that is fit for the future. If you’d like to be involved please contact us.
