The Higher Education Funding Council for England (HEFCE) has announced its high-level funding decisions, following the annual grant letter from the Department for Business, Innovation and Skills on 14th January. Allocations to individual universities and colleges will be announced on 21 March. The HEFCE Board agreed £4.47 billion for distribution for the 2013-14 academic year. This breaks down as follows:
- £2.3 billion for teaching – reducing from £3.2 billion last year. This will include widening participation activity (£105 million), student retention (£228 million) and funding for taught postgraduate students not eligible for government tuition fee loans.
- £1.6 billion for research – retained for the third year running (including £1 billion for QR and £240million for research degrees).
- £160 million for knowledge exchange – increasing by £10 million from last year.
- £429 million in non-recurrent funds (capital grants, national programmes, Revolving Green Fund, Catalyst Fund).
The full press release and links to further information on student number allocations is available at http://www.hefce.ac.uk/news/newsarchive/2013/name,76482,en.html.