UCEM Vice Chancellor joins experts to address HE sector’s financial challenges
Posted on: 29 November, 2024
UCEM Vice Chancellor Ashley Wheaton took part in a panel discussion at the Westminster Higher Education Forum’s recent virtual conference, Addressing UK University Financial Sustainability.
Ashley joined a panel of experts from the higher education sector, Professor Shitij Kapur (Vice Chancellor, King’s College London), Sam Sanders (Lead Education Partner, KPMG), Charlotte Corrish (Head of Public Policy, Office of the Independent Adjudicator for Higher Education) and Lulu Collins (President, Kent Student Union) contributing his insights on how universities can adapt to meet the sector’s pressing financial challenges.
This discussion comes at a time when institutions are grappling with funding pressures, rising operational costs, and shifts in student demographics. Indeed, Ashley argued that, instead of simply asking for more money, the higher education sector must be transparent with governmental stakeholders about what the sector may have to stop providing in the absence of adequate funding, likely impacting the delivery of wider economic aims, such as the UK’s proposed Industrial Strategy.
Adapting to financial challenges
Ashley highlighted three key areas where universities must innovate to sustain their missions. Firstly, he emphasised the importance of internal financial analysis, urging institutions to identify opportunities to limit unnecessary expenditure.
Secondly, Ashley called for greater sector-wide collaboration. He suggested universities could explore shared services, pooled curriculum resources and deeper partnership agreements. By reducing duplication and focusing on efficiency, the sector could unlock significant savings while preserving academic excellence.
Finally, Ashley addressed the external challenges facing the sector, from navigating regulatory burdens to working with agencies such as Skills England. He proposed that single-system solutions for student data and regulatory compliance could significantly reduce costs while ensuring universities could focus on their unique educational missions.
Leveraging technology and digital estates
Ashley also reflected on UCEM’s unique position as a fully digital university. He shared how UCEM leverages technology to drive operational efficiencies and enhance the student experience. Drawing from UCEM’s expertise, he advocated for the strategic use of technology across the sector to improve productivity and sustainability.
“Our digital-first approach allows us to serve students across the UK and beyond, offering flexible, career-focused education that meets their needs. We’re constantly innovating within our digital estate to deliver the highest-quality learning experiences whilst controlling costs” Ashley explained.
Addressing systemic reforms
Ashley joined fellow panellists in discussing how systemic reforms could alleviate financial pressures. He raised concerns about the stagnation of apprenticeship funding bands, which, unlike tuition fees, had not been increased by the UK’s new Labour government.
Ashley explained how this funding shortfall has tangible impacts, such as limiting UCEM’s ability to invest even further in the student experience.
Furthermore, Ashley noted the growing disparity in student distribution across institutions, with some universities reportedly lowering entry requirements to attract more enrolments. He warned that this could leave other universities struggling to maintain balanced student numbers, exacerbating financial and strategic challenges.
Commenting on his participation, Ashley emphasised the importance of strategic thinking and collaboration in overcoming the sector’s challenges.
“Universities have an extraordinary capacity to adapt, but we must do so with a clear vision of how to deliver value to students and employers. Whether it’s collaborating across institutions, deploying technology effectively, or rethinking our financial models, the solutions lie in our ability to innovate and work together.
At UCEM, we are proud to contribute to this dialogue and share our experiences as a digital-first institution delivering quality, cost-effective education”.
