UK universities’ income increases by £2bn, says report

UK universities’ income increases by £2bn, says report


UK universities have a reason to rejoice as the total income for universities in the UK rose by £2bn over the course of a year, official statistics show.
Quoting figures from the Higher Education Statistics, BBC reports that universities had an income of £25.4bn in 2008-09, compared to £23.4bn in 2007-08.
The data indicates £7.3bn of this came from tuition fees and education contracts – an increase of 16%.
The data also shows universities received £938m in 2008-09 by carrying out research for external clients.
Higher education institutions also earned £56.5m from intellectual property in the form of licensing fees and royalties.
While the universities’ total income grew by more than 8 per cent to £25.4bn, the expenditure also rose by 9% between 2007-08 and 2008-09 from £22.bn to £24.9bn.

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