Ivy League style funding proposed for UK universities

The top British universities should adopt the American financial aid system to provide better scholarships to students from a poorer background, according to Oxford University’s new vice-chancellor.

During an interview last week, Professor Andrew Hamilton outlined his hope that Oxford would implement a similar system to that of the Ivy League schools in America and, as a result, be able to give more substantial bursaries to students who would otherwise not be able to study.

In his first interview since taking up his new role, Prof. Hamilton said: “We must take great care not to fail the students [by] allowing a degradation of the quality of education that is provided by the great universities of Great Britain. But [we must] also not fail them in the commitment that great universities must make to any student who has the academic credentials; the academic potential to attend. The commitment that we must make to them [is] that they will attend Oxford irrespective of their economic circumstances.”

He outlined the necessity of a “needs-blind” admissions process, which would allow all students to study if accepted, regardless of their financial situation.

Using the American system, alumni will fund the largest scholarships and Oxford is currently involved in a drive to encourage previous students to invest in the next generation, giving them the same educational opportunities.

Prof. Hamilton said that it would be “reminding alumni of the effect those three or four years had on their lifelong intellectual development”.

His knowledge of the American system is one of the reasons that he was brought in by Oxford University. While having been born in England, he has spent the last 28 years in the Ivy League system. In recent years, he has been the provost of Yale University where he was well known for his fundraising.

As a result of this American connection his appointment has led to speculation that the University might move to raise the fees in order to bring them more in line with the rates charged at American schools. Currently, a top American university can charge around $50,000 (£30,000) per year.

UK based student groups were quick to denounce this plan. Wes Streeting, president of the National Union of Students said:

“When universities were told that they could charge top up fees, they were also told that in return they would have to significantly improve their bursaries for poorer students. This didn’t happen. They clearly cannot be relied upon to provide for poorer students.”

The new Vice-Chancellor is also exploring other sources of funding such as collaboration with industry in order to reduce the university’s dependence on government during the current period of financial uncertainty.