Grant announcement for higher education 2011-12
HEFCE has now received a grant letter on funding higher education in England from the Secretary of State for Business, Innovation and Skills for 2011-12 and beyond.
The letter confirms that the Council's overall settlement for 2011/12 represents a reduction of some 6 per cent in teaching grant against a comparable figure for 2010/11 (from £4.9bn to £4.6bn). This will mean a reduction of £300M in the total teaching grants given to universities during 2011/12. Due to an overlap between the academic year and government year, this could imply that a further in year reduction will take place in 2010/11.
The letter also announced that the teaching grant will be cut from £3.8bn for 2012/13, the reduction being offset by increased tuition fees.
Read the Russell Group's response here.
Read Universities UK's response here.Posted in: Fees & funding