Universities: Finance
Question
Ian Sollom
To ask the Secretary of State for Education, what protocols exist for (a) her Department and (b) the Office for Students when approached by (i) universities and (ii) lenders regarding (A) university financial difficulties, (B) debt arrangements and (C) lending terms.
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.