Question to the Department for Education:

To ask the Secretary of State for Education, what assessment his Department has made of the financial sustainability of the Higher Education sector.

The Office for Students (OfS) is the independent regulator of higher education (HE) in England. The OfS monitors the financial viability and sustainability of providers registered with them, to ensure they have an up to date understanding of the sustainability of the sector.

The latest report published by the OfS stated that, despite the many operational and financial challenges arising from the COVID-19 pandemic, the overall aggregate financial position of universities, colleges and other registered HE providers remains sound. However, there continues to be significant variation in the financial performance and strength of individual HE providers. The environment remains challenging, and providers will need to adapt to uncertainties and financial risks to protect their longer-term sustainability.

Departmental officials meet regularly with the OfS to oversee the overall financial sustainability for HE providers and identify emerging risks and issues for the English HE sector as a whole.

The department will continue to work closely with the OfS and other parties, including a variety of universities, mission groups and other government departments to understand the ongoing impacts and changing landscape of financial sustainability in the HE sector.