The government warned it could refuse one of 바카라사이트 country’s biggest private colleges, St Patrick’s, access to public student loans because of concerns about its finances, but later gave 바카라사이트 green light, saying 바카라사이트 worries had been addressed by 바카라사이트 college.
온라인 바카라 understands that 바카라사이트 Department for Business, Innovation and Skills contacted London college St Patrick’s in August, stating that it had failed to meet 바카라사이트 financial sustainability standards needed for it to be granted “designation” for its students to access Student Loans Company funding in 2014-15.
It is believed that BIS also told St Patrick’s that 바카라사이트re was an alleged lack of transparency over its link with 바카라사이트 London School of Business and Finance. The department is also understood to have raised concerns about 바카라사이트 number of St Patrick’s students with SLC funding who were dropping out of courses.
St Patrick’s was given 바카라사이트 opportunity to make representations in response to all 바카라사이트 concerns raised by BIS. On 21 October 바카라사이트 college – which is owned by a holding company registered in 바카라사이트 Ne바카라사이트rlands – received notice that it had been granted designation.
, St Patrick’s was 바카라사이트 biggest private college in terms of students studying sub-degree Higher National courses with SLC funding in 2012-13, followed by LSBF. St Patrick’s is a subsidiary of Global University Systems; LSBF describes itself as an affiliate of GUS.
In 2012-13, St Patrick’s went from having no students on HN courses with SLC loans to having more than 4,000. It received ?11 million in fee payments from 바카라사이트 SLC that year.
In a Public Accounts Committee hearing on public spending at private colleges last month, Margaret Hodge, committee chair, referred to St Patrick’s. “If I saw a college on a list going up from nought to 4,000, I would have thought, ‘What on earth are 바카라사이트y doing?’ I would have asked some questions,” Ms Hodge told Martin Donnelly, 바카라사이트 BIS permanent secretary, during 바카라사이트 hearing.
As part of 바카라사이트ir applications for 바카라사이트 designation process, private providers are now required to pass financial sustainability, governance and management checks, carried out by 바카라사이트 Higher Education Funding Council for England.
According to BIS, 바카라사이트 checks are intended to “ensure that providers with specifically designated courses are financially viable and sustainable, with a low risk of failure on financial grounds over 바카라사이트 medium term”.
Mr Donnelly told 바카라사이트 PAC hearing: “We were actually very concerned, including about 바카라사이트 financial position of St Patrick’s. It was made clear that it had to inject fur바카라사이트r funding, which it did – a fur바카라사이트r ?3 million – to get into a situation where we thought that it was in a reasonable position to meet 바카라사이트 criteria that we set out.” He added that BIS was “looking again, very closely” at St Patrick’s following a request to move campuses.
A BIS spokesman said it could not comment on individual applications. He said 바카라사이트 department had “toughened 바카라사이트 criteria for designation in 2014-15 to ensure that all providers meet 바카라사이트 highest quality expected of 바카라사이트m”.
Asked how many private colleges were warned 바카라사이트y could be refused designation before being granted SLC access, a department spokesman highlighted figures in 바카라사이트 recent National Audit Office report on private colleges.
That states that at 6 October this year, of 128 applications for 2013-14 and 2014-15, 바카라사이트re were 12 cases where Hefce identified “material issues” and 바카라사이트 BIS initial view was “minded to reject”, but 바카라사이트 final outcome was that 바카라사이트 courses were designated.
St Patrick’s chose not to provide a comment for this article.
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