OfS receives guidance on Strategic Priorities Grant

The OfS distributes this funding to universities, colleges and other higher education providers, where it will be used to support work on high-cost subjects, student mental health, degree apprenticeships and a range of other priorities. The budget for financial year 2022-23 is £1,397 million (an increase from £1,330 million in 2021-22). In addition, a capital budget to fund facilities and buildings will be £450 million for the three-year period 2022-23 to 2024-25.

Commenting, Nolan Smith, Director of Resources and Finance at the OfS, said:

'The strategic priorities grant provides significant and targeted funding to the universities, colleges and other higher education providers the OfS regulates. This increase in the grant is welcome, and will allow universities and colleges to continue providing high quality teaching and invest in their facilities for the benefit of students. We aim to publish details about our approach to recurrent funding in May, and will set out details of how providers can bid for capital funds after Easter.'