Universities are autonomous from Government and will set prices for themselves. They are expected by Funding Councils to recover the full economic costs of all their activities, year-on-year, in aggregate, across their portfolio.
Find out more information and read FAQs on full economic costing.
It is important to cover the full cost of all study activities for the Sponsor. Such activities include:
- Direct staff cost
- Direct non-staff cost
- Service and facilities costs
- Overheads (or indirect costs)
Overheads will be based on the indirect costs incurred in housing and supporting research projects. They will include:
- Premises costs
- Directorate / institute administration
- Central administration
- Other indirect costs