A call for more transparency regarding university expenditure, comes as reports claim students do not feel they are getting very good value for money.
The Department of Education’s 2018 report claimed that only 38% of British university students felt they were getting their money’s worth and that a lack of transparency was a big issue.
The Office for Students (a semi-independent non-governmental body), last month stated that they will write new guidelines requiring universities to reveal financial information.
One of the objectives will be full disclosure of the amount of money their presidents and vice-presidents receive and their staff who earn over £100,000 a year.
Essex university have been one of the first to reveal their financial expenditure, claiming 45% goes on direct teaching costs, whilst 1% is spent on campus services.
Due to the rise in graduate unemployment over the last decade, the Office for Students have also declared that work experience needs to become a crucial part of the university curriculum.
They claim “We believe that practical experience of the workplace must become the norm in degrees and an integral part of making students ‘work ready’.”
Students told the Department of Education “I don’t see what my tuition fees are being spent on, other than the wages of professors and government workers. I see/feel no benefit from that money and receive bare minimum teaching.”
In response to this statement, the Department are working on a proposal for tuition fee reform for affect by government officials.
photo credits: Department for Education Value for Money in Higher Education Report for 2018- https://publications.parliament.uk/pa/cm201719/cmselect/cmeduc/343/34302.htm