Why do STEM subjects matter?
A variety of industries rely on individuals with STEM-based qualifications and skills who can make a contribution to many of the big challenges facing society today.
We need to ensure that universities can meet the increasing demand for study of STEM subjects and produce highly employable graduates for the benefit of the UK economy and society.
Teaching capital funding
We have funded 73 universities and colleges through a share of £200 million STEM teaching capital funding for the 2015-16 academic year.
The scheme is intended to ensure that higher education responds effectively to the increase in demand for STEM studies by developing facilities that will support an increased flow of highly employable graduates into industry.
Institutions will need to match-fund any allocations on at least a one-to-one basis. This means the total STEM capital investment will be at least £400 million.
Institutions were invited to submit bids for funding. Institutions with smaller STEM provision (defined as being less than 1,000 full time equivalent students) could apply for a formulaic allocation.
The closing date for competitive bids and applications was 24 September 2014.
Funding for high-cost subjects
We provide institutions with funding for high-cost subjects. These are subjects where the tuition fee alone is not enough to meet the full costs of its delivery.
High-cost subjects include laboratory-based science, engineering and technology subjects.
In academic year 2013-14 we are providing £330 million in high-cost funding to institutions for students who entered higher education under the funding and finance arrangements introduced in 2012.
Additional funding for very high cost STEM subjects
Since 2007 we have provided funding to help secure the provision of four very high-cost science, technology, engineering and mathematics (STEM) subjects:
- Chemical engineering
- Mineral, metallurgy and materials engineering
In 2014-15, this funding stream is worth £23 million.