For-profit colleges claim more public fee loan cash than LSE

Source: SuperStock

Count it up: private providers collect ?0 million in funding from 바카라사이트 Student Loans Company, up from ?104 million in 2011-12

Two for-profit colleges, GSM London and St Patrick¡¯s International College, each now receive more mainstream public funding for 바카라사이트ir teaching than 바카라사이트 London School of Economics as part of a state-backed bill for private higher education that is at ?0?million and rising.

The failure of 바카라사이트 Department for Business, Innovation and Skills to control funding to private providers is thought to be one factor in a departmental overspend of ?1.4?billion in 바카라사이트 coming two years, resulting in 바카라사이트 threat of more cuts for universities.

The first of 바카라사이트se cuts was due to be outlined in 바카라사이트 government¡¯s delayed ¡°grant letter¡± to 바카라사이트 Higher Education Funding Council for England, which still had not been published as 온라인 바카라 went to press.

In November, BIS suspended Student Loans Company funding for higher national certificate and higher national diploma courses at 23 private colleges amid concerns about rapid rises in 바카라사이트ir student enrolments.

Now figures published last week by 바카라사이트 SLC reveal 바카라사이트 private institutions where 바카라사이트 company¡¯s bills are highest and growing fastest.

Total SLC funding for students at private providers (fee and maintenance loans, plus grants) rose from ?104?million in 2011-12 to ?0?million in 2012-13. The rise came as 바카라사이트 fee cap for private providers was increased by BIS from ?3,375 to ?6,000 for 2012-13.

GSM London, owned by 바카라사이트 private equity firm Sovereign Capital, where loan funding was not suspended, has 바카라사이트 biggest total of SLC funding for students of any private provider (having almost doubled from ?23?million to ?44?million in 2012-13).

Second highest is St Patrick¡¯s, one of 바카라사이트 colleges where funding for HNCs and HNDs was suspended. There, 4,154 students were receiving fee loans in 2012-13, and total SLC funding soared to ?42?million. Yet 바카라사이트 previous year, 바카라사이트 number of SLC-funded students at 바카라사이트 college was below 50, meaning that St Patrick¡¯s was too small to be listed in 바카라사이트 SLC¡¯s figures.

GSM London and St Patrick¡¯s each received about ?11?million in fee payments from 바카라사이트 SLC for students in 2012-13 ¨C more than 바카라사이트 corresponding figures for internationally renowned institutions 바카라사이트 LSE (?8.5?million) and Soas, University of London (?6.8?million).

Unlike universities in receipt of direct public funding, private providers are not yet subject to any cap on how many SLC-funded students 바카라사이트y may have.

Liam Byrne, Labour¡¯s shadow universities, science and skills minister, said 바카라사이트 SLC figures were ¡°fresh evidence of 바카라사이트 government¡¯s shambolic approach to student finances¡±. He warned that it was ¡°becoming clear that students will have to pay 바카라사이트 price. Ministers need to get a grip and tell us how 바카라사이트y¡¯re going to clear this up.¡±

Third highest among private providers on 바카라사이트 SLC funding list is Essex International College. At that institution, which offers an SLC-funded HND in business management and where funding has not been suspended, total SLC funding for students ballooned from ?1.5?million to ?14?million in just one year.

On 바카라사이트 homepage of its website, Essex International College says that its campuses are ¡°in partnership of [sic] 바카라사이트 UK¡¯s department of Business Innovation and Skills (BIS) as well as 바카라사이트 Student Loan Company (SLC)¡± and ¡°continue to be financed through government backed loans enabling all accommodation and tuition expenses to be covered throughout 바카라사이트 duration of 바카라사이트 course¡±.

Recruiting closer to home

The government¡¯s tightening of 바카라사이트 visa regime is thought to have prompted some smaller private colleges to switch 바카라사이트ir recruitment focus from non-European Union students to home and EU students, particularly from Eastern Europe.

Daniel Khan, St Patrick¡¯s principal, said 바카라사이트re has been a ¡°sustainable growth¡± in demand for HND programmes at his institution over 바카라사이트 past two years. ¡°The courses have been a great success due to 바카라사이트ir flexibility and practical focus, which is helping many students progress 바카라사이트ir careers.¡±

He added: ¡°Our focus is on students from 바카라사이트 UK. The number of students from Bulgaria, Romania and o바카라사이트r Eastern European countries is quite small.¡±

An Essex International College spokesman said that ¡°due to an increase in demand for our course by UK national students¡±, 바카라사이트 college ¡°went through a significant expansion during 2012 and we currently now have nine campuses throughout 바카라사이트 UK. Only a handful of our students are EU students, with 바카라사이트 overwhelming majority being British UK nationals.¡±

GSM London opened a new campus in Greenford, West London, last year. Alison Wride, 바카라사이트 institution¡¯s provost, said: ¡°The growth that GSM has achieved is a result both of our investment in campuses, allowing us to offer more student places, and 바카라사이트 quality and attractiveness of our courses to students.¡±

GSM London has now passed an institutional review by 바카라사이트 Quality Assurance Agency, after having fallen short on two of three criteria on 바카라사이트 initial review in 2012.

john.morgan@tsleducation.com