Engage NewsThe Scottish Funding Council (SFC) has announced indicative funding allocations for the university sector. Overall funding for teaching and research will be £1.016 billion in the next academic year.

The allocations to institutions will be accompanied by the expectation that universities will make major contributions to the Scottish Government’s plans to reform post-16 education and take significant steps to improve the learner journey through smoother progression from college, better student retention and accelerated degrees.

There is an expectation also that there will be a significant increase in the transfer into Scottish businesses of the knowledge created by the world class research taking place in our universities, to generate new business opportunities and drive Scotland’s future economic performance.

Education Secretary Michael Russell said, “Our universities make a vital contribution to our economy and to the career prospects of so many of our young people. That is why I am pleased the budget set by the Scottish Government has allowed for a generous funding settlement that reflects this important role.

“We have made a number of proposals to build on the existing strengths of all those involved in post-16 education. This funding comes with the agreement that universities will work with us to take forward these reforms, for example through improving the learner journey, widening access and enhancing collaboration with industry.”

For more on the funding allocations, visit the Scottish Funding Council’s website.