Like most universities that receive public funding, University A is a charity, and raises income from a wide range of sources. This income is spent on day-to-day running costs, providing teaching and other student services, undertaking research and enterprise activities and engaging with businesses and local communities. Any surplus income is reinvested back into improving facilities.
Fees from UK and EU students: These fees are currently capped at £9,250 a year, and students can take out a loan to cover this cost. Fee loans are only repaid when a graduate is earning above a certain amount, currently £25,725 . The actual amount a student will pay for their course will therefore depend on how much they earn after graduating.
Government teaching grants: Some subjects cost more to deliver than the fees that UK and EU students pay. For these courses the government provides income to fill some, but not all, of this funding gap. Universities receive around £1,500 from the government for courses that involve laboratory and studio work, and up to £10,000 for medicine and dentistry courses.
Fees from international students: Unlike home and EU students, universities receive no government support for international students. The fees for these students are unregulated and are often higher than those to UK and EU students.
Other sources of income: These include government grants for research, and new teaching and research facilities. Our research also generates some income from EU governments, charities, industry and public corporations. Finally, we receive income from investments, charitable donations and business activities.