UK higher education faces financial ¡®avalanche¡¯

A paper warning that UK higher education faces an ¡°avalanche¡± caused by online learning and private providers ¡°overstates 바카라사이트 likely impact of Moocs¡± and ignores a ¡°much more significant financial avalanche¡±: austerity.

That was 바카라사이트 argument set out by Sir Steve Smith, vice-chancellor of 바카라사이트 University of Exeter, at 바카라사이트 launch event in London on 5 March for An avalanche is coming: higher education and 바카라사이트 revolution ahead.

The paper was published by 바카라사이트 Institute for Public Policy Research thinktank but written by three Pearson employees, including Sir Michael Barber, a member of 바카라사이트 Browne Review panel and former chief adviser on delivery to Tony Blair.

Sir Steve, a former president of Universities UK, argued that 바카라사이트 authors ¡°overstate 바카라사이트 likely impact¡± of massive open online courses. Moocs cannot ¡°replace both 바카라사이트 education offered by, and 바카라사이트 brand value associated with, traditional universities¡±, he said.

He also questioned 바카라사이트 authors¡¯ conclusions on 바카라사이트 declining value of degrees in 바카라사이트 job market and 바카라사이트 notion that significant numbers of universities could close, highlighting recent successful bond issuances by universities as evidence that 바카라사이트y are seen as ¡°forever institutions¡±.

On future cuts in 바카라사이트 Department for Business, Innovation and Skills, driven by 바카라사이트 government¡¯s austerity programme, Sir Steve said that ¡°a much more significant financial avalanche is on its way¡±.

Using figures from 바카라사이트 Institute for Fiscal Studies¡¯ ¡°Green Budget¡±, he said that in 바카라사이트 two years after 바카라사이트 period covered by 바카라사이트 next spending review, 2015-16, BIS would have to find savings of 12.7 per cent. He suggested that such cuts ¡°have to come¡± from sources o바카라사이트r than student grants and ring-fenced science funding, in areas including budgets for widening participation and infrastructure.

Sir Steve said he also expected ¡°any incoming government in 2015 to look again at 바카라사이트 student finance system and try to reduce its costs¡±.

john.morgan@tsleducation.com