Colleges have been given weeks to submit information on their borrowing and financing arrangements following the launch of a review which could see them brought back into the public sector.
The Education and Skills Funding Agency today asked colleges for “immediate assistance” to provide a debt return – including a consent letter that will allow the ESFA to contact their primary lenders to discuss college debt. This is required in just over a week’s time, by June 14.
They must also send details of all college borrowing and financing arrangements as of May 31, 2022 and also details of future financing needs. This is required by June 24.
The request follows a recent announcement by the Office for National Statistics (ONS) that classification of colleges in England will be reviewed and potentially changed from private to public sector.
