Funding for universities and colleges for 2010-11 and 2011-12
HEFCE has released details of funding for universties and colleges for 2011-12. This announcement follows the grant letter from the Department for Business, Innovation and Skills of 20th December 2010, detailing the total budget allocated to HEFCE for 2011-12.
Key points are:
Total funding allocated to HEFCE to distribute in 2011-12 to universities and colleges has decreased by 9.5 per cent from 2010-11.
Recurrent teaching funding has decreased by 6.1 per cent, or £304 million, for 2011-12.
Widening participation and retention funding has been protected and maintained.
The 10,000 'extra' student places made available in 2010-11 will be available in 2011-12.
A reduction of 2.8 per cent is planned for the part of the recurrent teaching funding for 2010-11 that is allocated in March 2011. This will not apply to WP and retention funding elements in the Teaching Enhancement and Student Success (TESS) funding stream.
HEFCE will continue to perform its existing statutory role into 2012-13. A priority will be managing the transition to a new funding system. On teaching funding, it is epxected that the old method of allocation will be phased out and the new one - to be determined by the contents of the forthcoming White Paper - will be phased in. Given that student fees will become the major source fo university income all funding allocation methods will be placed under review.
Universities and colleges will receive notice of individual provisional grant allocations in March.