Russell Group response to new OfS report on financial sustainability of universities

15 November 2024

Responding to the Office for Students’ new report on the financial sustainability of universities, Dr Tim Bradshaw, Chief Executive of the Russell Group, said:

“Today’s report once again highlights the significant financial challenge facing the higher education sector. This is why universities across the country, including those in the Russell Group, have been taking mitigating action and working hard to implement efficiencies so they can maximise resources for high-quality education and research.

“The OfS report is based on modelling and indicates what could happen without the sort of mitigations that are already being implemented. While the report clearly shows the number of institutions that could be at risk if they aren’t able to deliver on their plans for change, a wider concern is what this might mean for the government’s ambitions for opportunity and economic growth.

“The recent announcement of a small tuition fee uplift in England from 2025-26 is a good start. Now serious consideration must be given to securing a long-term funding and policy landscape that supports institutions to be financially sustainable. This is important so universities can continue to offer high-quality education, deliver breakthrough research and provide invaluable civic contributions to cities and regions across the UK. Our universities will continue working closely with the OfS and government to protect the interests of students, maintain the UK’s position as a world-class global study destination, and ensure our shared investment in research and innovation continues to deliver for the country.”

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