Simpler funding for Universities and Students

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Simpler funding for Universities and Students

Additional Information

Universities are not commercial. While they are very profitable for the country as a whole (more so than most commercial businesses) they work in a different way, giving away their product (knowledge) for the benefit of mankind.

Academics, whose skill is in academic thinking rather than commercial thinking, are spending a large amount of their time applying for research funding. It may take 2 or 3 weeks to write a funding proposal, and 90% approximately are refused, usually due to a scandalous lack of funds. This hinders long-term planning.

Universities are fined if they take too many students, and miss out if they take too few. Students paying fees are put off by the prospect of starting adult life with a large loan. They often compromise their studies by taking a job at the same time.

Proposal:
• Universities to receive fixed annual government grants
• In return, to fund a set number of studentships
• Businesses may sponsor studentships in named topics

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