That is an important question, and the hon. Gentleman is one of the key higher education spokesmen in the House of Commons. I am absolutely supportive of student representation. The student panel is incredibly important. I made a decision as a Minister to interview one of the members of the student panel. I did not have to do that—I could have just ticked the submission and said that Mr X or Ms X is fine—but I took proactive interest, because it is incredibly important to do so.
I met the student panel, and I want it to have a voice. I went to an OfS event in the House of Commons a couple of weeks ago. I spent time chatting to the student panel, which is essential in this. As long as it is used properly and listened to, it is the best conduit for ensuring that student voices are heard. The student panel has teeth. I will keep a watch over it, even though the OfS is independent and I do not have operational control. It is a bit like the police: the Mayor of London might have a say over the chief constable, but he does not necessarily tell them what to do day by day. Nevertheless, the student panel is incredibly important, so I accept what the hon. Member for Sheffield Central (Paul Blomfield) says.
The hon. Member for Stretford and Urmston asked me about the taskforce. It last met in full in June 2022, and there has been a subsequent meeting of arms-length bodies, separately, to discuss progress and to identify areas of work to take forward.
There is plenty of evidence to suggest that higher education is preparing students for high-quality employment: three quarters of graduates from full-time first degree courses progressed into high-skilled employment or further study 15 months after graduating in 2020. But more must be done to tackle the pockets of poor quality that persist, and the OfS is committed to doing that. The OfS has revised its registration conditions in relation to quality and standards to ensure that they are robust, and it is rightly now taking action to investigate and enforce those conditions.
We want to ensure that students see returns on their investment in higher education. The Institute for Fiscal Studies estimates that the net lifetime return from an undergraduate degree is £100,000 for women and £130,000 for men, but it should be noted that the IFS has also found that 25% of male graduates and 15% of female ones will take home less money over their careers than peers who do not get an undergraduate degree. I think that graduates should be achieving outcomes that are consistent with the qualifications that they have completed and paid for.
To give an opposing example, it is a testament to the genuinely excellent teaching and leadership at the University of Hull that nursing and midwifery students experience the highest progression rate—98%—compared to all other OfS-registered HE providers with available progression data, and that the university has performed above the OfS threshold for continuation, completion and progression. I say those things to highlight not just the brilliant work of the University of Hull but the important work that the OfS is doing. Without the work of the OfS, we would not have that kind of information.
I talked about social justice, which is very important to the hon. Member for Kingston upon Hull West and Hessle and to me. I want to ensure that no student is excluded from higher education because of their background. A wider point has been made about us putting extra burdens on the OfS, but it has recently launched the equality of opportunity risk register to highlight key risks that can impact negatively on disadvantaged and under-represented student groups across the whole of the student lifecycle. That is an extra thing for the OfS to do, but I want it to happen. I am delighted with that. I do not like the name “risk register”, but nevertheless the principle is really important. It will empower higher education providers to develop effective interventions and support at-risk students, helping them not only get in but get on. I have a lot more to day about Hull University. It really is doing some remarkable things, and I hope to be able to go there one day and see it.
The hon. Member for Kingston upon Hull West and Hessle cares deeply about mental health. We have allocated £15 million from the strategic priorities grant to the OfS for mental health support. That is another OfS duty and its purpose is to support students’ wellbeing when they transition to university, and to create opportunities for partnerships between providers and the national health service. The OfS has a role to play in funding Student Space, an online platform for mental health and wellbeing resources. The OfS also runs a mental health challenge competition with Northumbria University. It has supported projects to ensure that mental health needs are identified by providers. That is another important role for the OFS. Yes, the OfS has increased its role, but it is doing really important things that will make a difference to many students’ lives.
I knew that the hon. Member for Kingston upon Hull West and Hessle would bring up degree apprenticeships. I have some sympathy with what she says; there is too much regulation, and all I can say to her is to please watch this space. I am looking at it very carefully to see what can be done. Of course, we also have to maintain quality, because if we do not have quality, I will have the shadow spokesman, the hon. Member for Warwick and Leamington, get up in Education questions and ask why apprenticeship provision is so poor. The hon. Lady will be pleased that over the next two years we will increase from £8 million to £40 million—£16 million in the first year, and £24 million in the second—the funding to promote degree apprenticeships among providers. I know she will support that extra funding.
A House of Lords inquiry has criticised the OfS registration fees for being too high. As I have mentioned, however, in the light of the Government’s commitment to funding skills over the Parliament, the OfS registration fees offer value for money. It is currently around £26 million
a year, which is less than £13 per student. I do not think that feels like a high price to pay to ensure that we have a high-quality system working in the interests of students.
In conclusion, the work of the Government, which I have outlined, and of the OfS regulator will continue to deliver on skills, jobs and social justice. I accept that there is over-regulation—the hon. Member for Kingston upon Hull West and Hessle highlighted some unnecessary regulation that I will look at with officials at the Department for Education. However, we have a world-class higher education sector. I am not complacent about it. I acknowledge that there is not enough in some areas, and that some graduates are not getting good, skilled jobs, but many—in fact, most—higher education providers deliver a top-class education and equip students with the skills they need to get excellent jobs. I am clear that a robust and fair regulator—a good regulator—is vital to ensuring that our higher education sector remains world leading and protects students and the taxpayer.
I think that the OfS has achieved a fair bit in the first five years of its existence. It has registered 400 providers. It has also registered the new Dyson Institute, which is—