First higher education institution is stripped access to student loans amid concerns over low quality degrees
The first higher education institution has been stripped of its access to student loans amid concerns over low quality degrees.
The Bloomsbury Institute, which is based in central London and run by a for-profit company, offers degrees in business, accountancy and law.
But the higher education watchdog, the Office for Students (OfS) announced on Thursday that it has refused the registration application of the institute, citing concerns about the “quality of student outcomes”.
Almost a third (29.3 per cent) of students dropped out before completing their degrees, according to the latest data from the Higher Education Statistics Agency (Hesa) which showed that out of 730 full time students, 215 failed to complete their courses in 2016/17.
The OfS said it was also not satisfied with the graduate employment rates for students after completing degrees at the institution.
Nick Hillman, director of the higher education policy institute, said this is likely to be the first of a “handful” of institutions that will have its application to register declined.
He said that the move is “completely unprecedented” adding that the reputational consequences are “quite severe”.
Every higher education provider has to register with the OfS in order to receive public funds, recruit international students, award degrees and call itself a university.