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The UK government must review higher education funding so that institutions can “plan for the long-term and set sustainable funding and delivery models”, a new report has said.

The House of Lords’ Industry and Regulators Committee made the point in a document delving into the role of the Office for Students, which it says is “failing to meet the needs of students and is not trusted by many of the providers it regulates”.

The Must do better: the Office for Students and the looming crisis facing higher education paper says that the regulator, as well as the government, is failing to act on the looming financial crisis facing the higher education sector.

It is based on evidence from students, university leaders, ministers, representative bodies, the Quality Assurance Agency, as well as the OfS itself.

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