Pearson, the publishing and education group, has unveiled a new higher education (HE) college that will offer undergraduate degrees to UK students and in doing so become the first ever FTSE 100 company to enter the higher education market.
The move was not a huge surprise given that the group has been vocal about its HE plans for a couple of years now, although its original plans were to become an exam board and validate degrees rather than a provider of education.
The college will be known quite simply as "Pearson College" and will fall under the category of for-profit education.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Roxanne Stockwell, Managing Director of Pearson College, said of the decision: "As we did more research into it ... where we think we can add the most value is in designing and delivering for our own students."
The company must now the appropriate status to award degrees and in the meantime will have their courses validated by Royal Holloway College, part of the University of London.
The initial plan is for Pearson to take 40 "pioneer" students this year, then 100 students next year who will each pay £19,500 fees for the three-year course.
The company has said its first course will be a business and enterprise BSc.
NR
-
Where are ISA savers and investors putting their money?With less than three months until the end of the tax year, where are ISA savers and investors putting their money? We look at the latest ISA trends.
-
More than £53 billion held in fixed-rate cash ISAs will mature by April - where should savers move their money?If your fixed-rate cash ISA is maturing soon, we look at the options available to you
