Unregulated expansion of higher education costing millions

Whatever the sector, regulation generally takes a while to catch up with markets. This is particularly the case when markets are dynamic and fast-moving – regulators always appear one step behind nimble-footed and innovative entrepreneurs. The publication of a new report by the House of Commons Committee of Public Accounts (PAC) into financial support for students at alternative higher education providers, underlines this disconnect. MPs have been scathing in their criticism of the Department for Business, Innovation and Skills (BIS) in providing public support for students at the new so-called “alternative providers” – without much in the way of risk assessment and control.