Cambridge University May Become Private In Order To Increase Funds
October 18th, 2010 - 7:01 pm ICT by GDBy Gina Gomez
Oct 18, (THAINDIAN NEWS) Cambridge University may become private. The move will allow the university to charge higher student fees to make up for the loss of taxpayer funding. The University feels that the proposed hike in tuition fees is not enough for the university to compete with other American Universities. The move is being seen as a way of maintaining the University’s global standing. However, a university spokesperson has reportedly said that the assertions are “Speculation” while another report confirms the news of the university’s plans to become privatized. A university source is said to have said that they have a deficit of 96 million pound a year.
He said, “We are not competing with Leeds. We are competing with Harvard, Yale, Princeton and Stanford”. The plan if made a reality, will result in the students losing all access to government grants and funds while Cambridge University will lose all direct government funding. The plan to seek privatization has gained momentum with Lord Browne’s report last week, which said that the current cap on fees of 3,290 pounds be removed, but universities charging upwards of 6,000 pounds should pay an increased percentage of each additional 1000 pounds it makes. Vince Cable, the business secretary is said to be in favor of even tighter controls.
Privatization would allow Cambridge University to charge unlimited fees while escaping government scrutiny over the admission of students from poor backgrounds. A source has reportedly said that the plan is “not just a threat, it is a fact”. Cambridge University cannot continue to compete with its big competitors with reduced state funding, along with a limit on the amount it can keep with itself from the students fees.
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Tags: admission, american universities, assertions, cambridge university, gina gomez, government grants, government scrutiny, harvard, leeds, lord browne, momentum, poor backgrounds, privatization, speculation, spokesperson, stanford, tuition fees, university source, vince cable, yale princeton