Minted! UCL in the money with Education Grant
UCL receive £174.3 million HEFCE grant.
UCL announced on Thursday that their grant from the Higher Education Funding Council for England for the 2012/13 academic year would total £174.3 million.
Although experiencing a reduction of 4.1% (£7.5 million) from the grant received this time last year, UCL has, nonetheless, risen to second in the HEFCE allocation, behind only provincial backwater Oxford University, who received £177.8 million.
The removal of the teaching grant and change to £9000 tuition fees has resulted in an overall sector reduction of 18.8%. While this has diminished UCL’s teaching grant by 14.7% from 2011/12, the research funds afforded to the university have increased by 2.1%.
To complain over a fall to £174 million in grants may seem overly demanding as UCL hardly lack in riches, but the 18.4% reduction within the sector is indicative of the times.
Government cuts for educational institutions may well prove to be a growing trend in the coming years so let’s hope UCL invests the money wisely in areas that are in desperate need of new funds. Another printer in the library perhaps?