£1.8 BILLION ALLOCATED TO UNIVERSITIES & COLLEGES NEXT YEAR

Published date : 01 Mar 2018

Local MSP Welcomes £1.8 billion of funding for Scotland’s Universities & Colleges

Jenny Gilruth, Mid Fife and Glenrothes MSP, has welcomed the allocation of £1.8 billion of public funding to individual universities and colleges the next academic year.

Universities will share over £1.1 billion of funding while the revenue budget for colleges will increase by 8.3% to nearly £600 million, with the college capital budget also increasing by nearly £30 million to a total of £76.7 million.

The indicative allocations, published by the Scottish Funding Council, also show core student support funding increasing by £3.6 million, with an extra £5.2 million set aside for the implementation of the Independent Review of Student Support.

Commenting on the funding, Mid Fife and Glenrothes MSP, Jenny Gilruth, said:

“Our universities and colleges have a huge role to play in creating a fairer society as they help support Scots of all ages fulfil their potential in life.

“In recognition of their vital role, the Scottish Government has not only protected the budget of universities and colleges, but increased it.

“I hope to see this significant investment help close the attainment gap, delivering progress on the target for 20% of students from most deprived backgrounds to represent 20% of university entrants by 2020.

“The Scottish Government also hope to see local institutions, like Fife College, responding flexibly to the demands and challenges of the labour market, on areas of priority such as early learning and childcare – ensuring our workforce is fit for the future.”

John Kemp, interim chief executive of the Scottish Funding Council, said:

“Today’s announcement represents an increase to the funding of both colleges and universities in Scotland. That’s good news for everyone who benefits from further and higher education.

“The funding announced today will also support accelerated progress towards our ambitions for widening access, world-leading research, innovation and skills for Scotland’s economy.”

Background

For more information and to see the breakdown by individual institutions, view the Scottish Funding Council publications online:

• Outcome agreement funding for universities – indicative allocations for 2018-19

• Outcome agreement funding for colleges – indicative allocations for 2018-19

The Scottish Funding Council publishes indicative funding allocations to universities and colleges to give early planning information for the next academic year. The indicative funding allocations are followed by the publication of final funding allocations for both sectors.

The indicative funding decisions set out are based on the Scottish Government’s draft budget and are in line with the Minister for Further Education, Higher Education and Science’s Letter of Guidance to SFC dated 30 March 2017.

Final funding allocations will reflect, in particular, the targets and commitments set out in draft outcome agreements for AY 2018-19.

The Scottish Budget 2018-19 provides for an overall real terms increase in the higher education budget of 1.9% (resource, capital and financial transactions combined) and a real terms increase of 9.4% in the college budget (resource and capital) compared to financial year 2017-18.

Local Reporters, East Fife Mail, Glenrothes Gazette, Courier (Fife), EDUCATION