Capital funding for financial years 2022-23 to 2024-25: Formula allocations and invitation to bid

This document sets out the arrangements for the distribution by the Office for Students (OfS) of capital grant for the three financial years (April to March) 2022-23, 2023-24 and 2024-25.

We will distribute capital funding for eligible providers through two mechanisms:

• £11 million through a formula allocation for 2022-23
• £400 million through a single bidding exercise, with capital monies to be distributed over the three-year funding period running from financial years 2022-23 to 2024-25. The competition was open to all providers that are registered (or have applied to register) with us in the Approved (fee cap) category.

The deadline for submitting capital bids was 11 July 2022. We published the outcomes of the bidding competition and updated funding allocations in December 2022.