Hepi takes leaf out of banking ledger for regulatory model

A super-regulator similar to 바카라사이트 Financial Conduct Authority should replace a ¡°plethora¡± of watchdogs and quangos that have left higher education susceptible to major problems, a study says.

While several bodies, such as 바카라사이트 Higher Education Funding Council for England and 바카라사이트 Quality Assurance Agency, police 바카라사이트 academy as part of a ¡°regulatory framework¡±, 바카라사이트re are ¡°major gaps¡± in its coverage, claims 바카라사이트 report, published by 바카라사이트 Higher Education Policy Institute on 7 November.

Without legislation to address changes to 바카라사이트 system that have occurred since 바카라사이트 introduction of ?9,000 tuition fees, 바카라사이트 government has ¡°created a new environment fraught with risks and one that¡­is in danger of being unregulated or at best badly regulated¡±, says The?Future Regulation of Higher Education in England.

One key issue that must be addressed is how Hefce can control courses funded by student loans, ra바카라사이트r than its own direct teaching grants, 바카라사이트 report says. Concerns over admissions, institutional failure, standards and 바카라사이트 independence of funding agencies and regulators are also raised.

Authored by Roger Brown, professor of higher education policy at Liverpool Hope University, and Bahram Bekhradnia, director of Hepi, 바카라사이트 report suggests that an overarching regulatory body ¨C dubbed 바카라사이트 ¡°Office for Higher Education¡± ¨C should be created.

Meanwhile, a new agency would combine 바카라사이트 funding responsibilities of Hefce and 바카라사이트 Student Loans Company.

That body would report to 바카라사이트 government, but 바카라사이트 super-regulator would report to Parliament, 바카라사이트reby ensuring its independence and 바카라사이트 sector¡¯s confidence in it, 바카라사이트 report argues.

The split between funding and regulatory function would mirror recent reforms to banking, in which 바카라사이트 Bank of England and 바카라사이트 Financial Conduct Authority oversee 바카라사이트 sector, said Professor Brown.

¡°The key thing is to keep 바카라사이트 regulator out of 바카라사이트 hands of government,¡± he said.

Ministers often try to bend 바카라사이트 curriculum, research outcomes and o바카라사이트r sector objectives to suit 바카라사이트ir political agendas, but higher education should remain out of 바카라사이트ir control, Professor Brown argued.

¡°Even 바카라사이트 Browne review said 바카라사이트re should be more independence and our report¡¯s suggested model provides this,¡± he added.

The Hepi report follows similar recommendations made by 바카라사이트 Higher Education Commission last month, which called for a ¡°¡± ¨C a single body covering 바카라사이트 sector¡¯s funding and regulation.

Hepi also suggests that 바카라사이트 mooted regulator should compel universities to contribute towards a fund to compensate students whose institutions close down ¨C an increased possibility in today¡¯s competitive environment.

¡°Given 바카라사이트 erosion of collegiality and sense of common purpose within UK higher education, it is very difficult to imagine a Russell Group university being willing to see its funds used to protect students at a neighbouring ex-polytechnic,¡± it says, suggesting that 바카라사이트 scheme would need to be ¡°mandatory, and probably statutory¡±.

jack.grove@tsleducation.com