Boom time for UK universities
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Despite doom and gloom on the UK high street and in manufacturing, the UK further education sector is booming. Rising demand for places from international students is leading to an era of expansion amongst the UK’s leading universities which are set to borrow over £3bn to finance new projects.
University College London has announced that it has secured a £280m loan, the largest amount lent to a university by the European Investment Bank.
The money will help to finance a new campus on the Queen Elizabeth Olympic Park in east London and upgrade and expand buildings on the Bloomsbury campus.
The sum is considerably more than the £200m provided by the same bank to the universities of Edinburgh and Oxford.
The government has also recently removed the cap on student numbers meaning that the income stream from fees will continue to grow.
According to The Times