The £285 increase in tuition fees won't cover universities' rising costs, says the University of Suffolk's leader, as 40% of UK universities predict deficits this year.
The big picture: Education Secretary Bridget Phillipson announced yesterday that university fees will rise to £9,535 from 2025-26, ending a seven-year freeze. The 3.1% increase is linked to inflation.
Why it matters: The University of Suffolk plays a crucial role in training the region's essential workers and contributes an estimated £484m to the local economy, making its financial sustainability vital to not just our town but to the entire region.
What they're saying: Professor Jenny Higham, Vice-Chancellor of the University of Suffolk, said the rise was "most welcome, but will not make up the whole deficit from eight years of a fixed undergraduate fee."
”Universities benefit not just individuals but communities and society, bringing social, economic, and cultural benefits,” she added.
By the numbers:
£484m - economic activity generated by the University of Suffolk in East Anglia (2021-22)
3,760 - jobs supported by the university in the region
£9,535 - new annual tuition fee from 2025
£285 - increase from current fees
Speaking about the increase, Higham said, “While students benefiting from higher education should contribute to the cost, there should also be a level of public funding to maintain these benefits.”
Between the lines: The university's significant contribution to training local healthcare workers, teachers and social care staff means any financial pressures could affect vital public services across Suffolk.
Yes, but: While tuition fees are increasing, students will also receive increased support through maintenance loans, with caps rising to £10,544 for those living outside London.
What to watch: The Department for Education will publish an impact assessment examining how the changes will affect student debt and repayments over time.
The bottom line: "UK universities need to be in a position to compete globally and drive their vital economic impact for the benefit of the nation," concludes Professor Higham.
