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Value for Money Statement

At the University of Central Lancashire, our governing body ensures that satisfactory arrangements are in place to provide transparency about value for money for our students and for taxpayers.

We are in a strong position to add value to the fees that students pay – not just for their tuition - but for their whole experience of being at a large civic university in a small, safe city, creating positive change in their lives and in their working and living environment.

We take great pride in our role as a financial anchor in the region. Our students and graduates support the sustained impact and value the University offers as a significant driver of economic, cultural and social development, offering value for money back to the taxpayer as well as to the student. As the largest employer in Preston, we provide many work opportunities for our students and our local community.

How we create value for our students

In 2020/21, the University continued to face the challenges presented by the worldwide COVID-19 pandemic and the range of restrictions introduced by the UK government to combat it. The University was able to draw on its investments in technology and infrastructure as well as its innovative nature to ensure that our students continued to receive value for money. We developed a blended approach to learning and teaching that recognised the benefits of different modes of student interaction for different types of learning activities and subjects, as well as ensuring that we were able to best protect our students, staff and the wider community at the same time. We also continued to support students through the transition by providing necessary equipment to enable them to access online provision, whilst continuing to invest in Hardship Funds to support students adversely affected financially by the lockdown.

We also continued to support our local communities through the challenges, partnering with the NHS to establish and house the first fully-operational COVID-19 LAMP testing facility in the UK. This facility was set up specifically to test NHS staff and also provided employment opportunities for our students in a relevant, real-world work environment.

The following information sets out how the University finances work, where our income comes from, what we spend our money on and shows how a typical undergraduate student fee is used.

Where does our money come from?

More than two thirds of our income is from student fees (including UK, international, undergraduate and postgraduate students) and education contracts. Around 13% of our income is from funding body grants – this comes predominantly from the Office for Students, the Education & Skills Funding Agency and from Research England.

How do we spend our money?

All of our income is spent on the University to deliver teaching and learning, undertake research, deliver support services and to provide teaching, learning and research spaces as well as recreational space for our students.

Over the last five years we have increasingly invested in the things we know matter to our students: the academic experience; support services; accommodation; and research that delivers real-world impact. 

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Recent investment01 / 06

Glossary of Terms