{"id":165,"date":"2011-11-18T22:06:11","date_gmt":"2011-11-18T22:06:11","guid":{"rendered":"http:\/\/helpmeinvestigate.com\/education\/?p=165"},"modified":"2021-10-18T08:26:24","modified_gmt":"2021-10-18T08:26:24","slug":"the-price-of-a-university-drop-out-3-exactly-how-much-is-each-student-worth","status":"publish","type":"post","link":"http:\/\/helpmeinvestigate.com\/education\/2011\/11\/the-price-of-a-university-drop-out-3-exactly-how-much-is-each-student-worth\/","title":{"rendered":"The price of a University drop-out 3: Exactly how much is each student worth?"},"content":{"rendered":"

Tweet<\/a><\/span>In the last post<\/a>, we looked into how HEFCE derive predicted non-completion figures year on year so that when we unwrap the data we know what we’re looking at.<\/p>\n

But, in order to figure out the wider effect on Universities, it’s key to look at exactly how much a student is worth to a university when it comes to public funding.<\/p>\n

Basically, (as of 2003\/2004,<\/a> with some information in the more recent publication<\/a>) HEFCE derive a ‘resource’ that is required for a University to function. This ‘resource’ consists of the tuition fee added onto the grant provided by HEFCE.<\/p>\n

So, in other words, HEFCE decide the cost of teaching a student and fund the shortfall between that cost and the tuition fee allocation.<\/p>\n

To do this, students are broken down into FTEs, or full-time equivalent terms, where a figure is derived that represents the cost of educating the average full-time under-graduate student.<\/p>\n

The FTE figure is then increased against a number of influencing factors like the cost ‘weight’ of a degree (laboratories carry heavy costs), whether a degree is a standard year in length (long courses used to carry a 25% premium in 03\/04, not currently) and whether the area of study (mainly London) has a higher operating cost.<\/p>\n

All home and EU students on openly accessible higher education courses are under this system of funding. A part-time student, for example, will be paid at 0.5 FTE.<\/p>\n

The basic price for a full-time under-graduate degree, with no frills or additions, is \u00a33,951, with the assumed tuition fee income sitting at \u00a31,310.<\/p>\n

So, the HEFCE pay \u00a32,641 for each student studying a degree in Price Band D<\/strong>.<\/p>\n

Wow. That took a while. There are, admittedly, a massive number of variables, but the key focus is on the price bands:<\/p>\n