Universities: Finance
Question
Ian Sollom
To ask the Secretary of State for Education, what involvement (a) her Department and (b) the Office for Students have had in discussions between universities and their commercial lenders on (i) university debt arrangements, (ii) financial sustainability and (iii) lending terms since 2022.
Answer
Josh MacAlisterThe department does not intervene directly in negotiations between universities and banks. As independent institutions, universities are responsible for managing their own finances. We do of course regularly meet both with providers and banks to discuss the finances of higher education institutions. However, it is important these discussions are kept confidential.
The processes and protocols of the Office for Students (OfS) are a matter for them. In the first instance, providers should speak to the OfS where they have identified financial risk.