1994 Group Welcomes CBI's Higher Education Funding Proposals But Warns Of 'Valley Of Death' Ahead For University Finances

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Article Date: 22 Sep 2009 - 0:00 PDT

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The 1994 Group welcomes the CBI report published yesterday (Monday) which backs the 1994 Group's proposals (set out in a speech on the 23rd June) to maintain the quality of the UK's universities through enhanced funding. The CBI's report recommends that student loans should be provided at the government's cost of borrowing and highlights the necessity of an increase in tuition fees to maintain quality.

Paul Marshall, Executive Director of the 1994 Group said:

""Enhanced funding is the only viable option to prevent universities going through a valley of death over the next few years where they are forced into severe cutbacks. This will cause decay in the UK's higher education system with universities struggling to maintain teaching or research quality and unable to invest in the necessary world-class facilities and staff. The result will be a fall in student experience and a fall in the quality of the academic experience. Offering the highest quality of degrees is crucial to give graduates the best chances of employability in a tough job market and to maintain the UK's international competitiveness."

"The 1994 Group strongly welcomes the CBI's backing for enhanced funding for higher education to maintain quality so that universities are able to meet the nation's needs - strengthening the economy, delivering novel solutions to major challenges through research and developing a world-class highly skilled workforce."

"The fees cap needs to be high enough to bring in sufficient funding and enhance competition to further drive up quality. In addition, a sensible interest rate should be introduced on student loans, set at the current Government cost of borrowing, to rectify the huge subsidy that the Government currently pays."

Source
The 1994 Group

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