Russell Group head suggests former students could donate to old universities

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The head of the Russell Group says alumni could help plug the funding gap in the university sector, mimicking the model in the US where wealthy former students donate to their old colleges. Speaking to the FT, Tim Bradshaw also urged universities to set up “stalls in Canary Wharf” to attract research money from businesses. His comments underline the financial crisis currently facing higher education. Nearly half of English universities are expected to report a deficit this year, and many have already cut courses and staff. The crunch is the result of frozen tuition fees, funding cuts and visa changes for high-paying international students. Universities UK estimates that higher education institutions face £9bn in increased costs between 2024 and 2030, with more restrictive immigration policies responsible for the biggest share of lost income.