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Norwich University Reports Big Rise in Money Made From Student Halls

Posted by Richard Ward in ,

Image courtesy of Flickr, Creative Commons

The University of East Anglia has seen the money it makes from its student accommodation rise significantly during the past five years.

In the 2011-12 financial year, the university made a surplus, after maintenance, depreciation and loan costs, of £834,155. However, for the 2016-17 financial year the university saw this rocket to £5.84m.

The university attributed the rise to major growth in on-campus accommodation and said the money was reinvested into maintenance and future developments.

A spokesperson for the university said: "Over the past three years UEA has directly invested £41.2m in building new on-campus student accommodation and the generation of surpluses allows us to finance, maintain and reinvest in our campus accommodation.

"The number of on-campus bedrooms at UEA has increased by 746 over the past three years and that increase in accommodation will be reflected in the increased surplus."

Meanwhile, the students' union has warned that steep rent increases could make the university unaffordable for poorer students. Rents are expected to rise by 3% in 2018-19, causing the union to launch a fair rent campaigning calling for on UEA to freeze rents.