• £2m bank charge for college clearing debt with bailout

    A cash-strapped college has spent almost £2 million of the bailout cash it received from the government on bank charges – although it has actually saved money. Stoke on Trent College successfully bid for a reported £21.9 million from the Department for Education’s restructuring facility in September. According to its recently published 2017/18 accounts, £1.93

    6.00 Jan. 19th, 2019 | News

  • Hull College overspent by almost £10 million in 2016/17, overdue accounts reveal

    Cash-strapped Hull College overspent by even more in 2016/17 than the previous year, according to its recently published and long-overdue accounts. The college, which reportedly received a massive £54 million government bailout earlier this year in order to balance the books, recorded a deficit before tax of £9.69 million in 2016/17 – an increase of

    16.47 Aug. 13th, 2018 | News

  • Atkins: Struggling colleges will still need stopgap funds

    Colleges that get into financial difficulty will still need funding to “oil the wheels” once the bailout tap has been turned off, the FE commissioner has said in an exclusive interview with FE Week. Struggling colleges currently have access to the restructuring facility and exceptional financial support (EFS), but these will each be withdrawn later

    11.30 Jun. 15th, 2018 | News

  • Hull College's vast debts exposed

    An impoverished college which took a £54 million bailout did so after declaring a deficit of close to £13 million in a single year. The revelation emerged from Hull College’s long-delayed 2015/16 accounts, which were finally published this week following pressure from FE Week. There have widespread demands for greater transparency on the college’s dire

    10.01 Jun. 8th, 2018 | News

  • Hull College receives £54m bailout amid job strikes

    An impoverished college caught in a row over job cuts has received a £54 million bailout. The eye-watering sum reportedly awarded to Hull College from the restructuring facility is believed to be the highest ever given to an English college. A college representative let slip the sum during the University and College Union’s congress in

    17.37 May. 31st, 2018 | News