Tuition fees for 17/18 entry for Undergraduate Home/EU students
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As part of a raft of proposals, the Government wants to allow universities to increase their fees in line with inflation subject to a successful assessment by a Teaching Excellence Framework (TEF). The current tuition fee is fixed while costs rise. Releasing the fee cap is a matter for parliament.
Our Finance and Resources Committee has given authority to the College to raise fees to £9,250, should the cap be removed. The new fees will apply to new students only and will not apply to those currently enrolled on undergraduate courses at Goldsmiths.
A representative of the student body attends this Committee and put forward their views alongside other members, opposing any rise in fees. Other members represent our governing Council and are independent of the university.
In reaching the decision, the Committee considered the challenge of rising costs while the real value of the £9,000 Home/EU undergraduate fee has fallen. They heard that a number of steps have already been taken to break even – student numbers have increased and non-staff costs have been cut by over £1m – but that a deficit is still likely unless income grows.
The bulk of any additional fee income that arises from the increase will be reinvested back into the student experience, including bursaries for those who need it, such as to cover costs of accommodation, improvements to student support services and campus facilities. We are guided by student feedback and the Students’ Union as to where the need is.
Our costs and student needs have increased while the Home/EU Undergraduate fee has remained static at £9,000 – representing a decline in real terms. Research suggests that the £9,000 fee charged this year is only worth the equivalent of £7,700 in 2012 terms, the year in which the £9,000 fee was introduced, because costs have risen at a significantly higher rate than inflation. In this scenario, institutions increase income either by expanding numbers or raising fees or by cutting costs. Goldsmiths has historically been close to breaking even, either making small deficits or surpluses. We have expanded significantly over the past few years but any future growth will be in a competitive market with a shrinking cohort and ever-more restrictions on international students.
We have cut non-pay costs significantly and continue to do so. We do not wish to enforce redundancies. Any additional income from the fee increase will be reinvested back into the College.
Goldsmiths reinvests all fee income into the university - this not only covers teaching but also the campus, support staff, resources, events, Goldsmiths Students' Union and bursaries - you can read more about our finances here.
That wasn't discussed at the meeting on 4 October 2016. The discussion focused on what we know - that, subject to a final decision by Government, institutions who meet expectations will be able to raise fees in line with inflation which next year will be £9,250. This will only apply to new students.
Our primary concern is ensuring prospective applicants have the clarity they need on fees as soon as we have it - that's why we called an emergency meeting of the finance committee and ensured the SU could attend so we could discuss and agree this and communicate it to 17/18 entrants.
Its simply too early to comment on future increases - a Higher Education Bill is currently being debated in parliament. There includes a proposal to link fee increases to an assessment against a range of measures. As has always been the case, any decision on fees will follow a conversation with the Students' Union.
Like all universities, we have a number of committees that govern our work and report to our governing body Council. We have student representatives on all of those committees. The Finance and Resources Committee is a key Council Body which governs our finances. All fee increases are considered by this committee. Members come from a range of backgrounds, including Trade Unions, Law, Finance and Communications, and are independent to the university.
We are very disappointed at the proposed boycott since the NSS is instrumental in helping us shape our student experience strategy and the NUS helped support the NSS when it was originally developed.
But we are also increasingly concerned since the NSS is central to the governments proposed future measurement of Higher Education Institutions - this could impact on our future sustainability as a university which doesn't benefit anyone, including our graduates who depend on our reputation for their employment. There is a risk that such action could devalue their own degrees in the eyes of employers.