15 Jun '11, 7am
Universities create over £1.31 bn of social value: new nef report with @UniversitiesUK out today #UniWeek
Universities yield benefits way beyond the individual financial returns to students and human capital gains for the economy. We find that just three social outcomes – greater political interest, higher interpersonal trust and better health – contribute a benefit of £1.31 billion to UK society over and above the economic benefits. University performance is often evaluated according to a limited set of indicators, namely financial returns to individuals and impact on economic growth. Such narrow valuations ignore the role universities play in building a stronger and more tolerant society – both directly through public outreach and indirectly through the student university experience. Where attention has been paid to the broader outcomes the lack of quantitative evidence has led to an assumption that their value to society is marginal. This report aims to challenge this assum...