The specialist financial education provider, which is a registered charity and incorporated by Royal Charter, will become ifs University College.

The status upgrade could be a prelude to full university status, as happened with BPP University ¨C recently awarded university title after being granted university college title in 2010 by the coalition government.

The coalition wants to create greater competition in higher education by introducing private universities and university colleges.

It has awarded university status to for-profits BPP and the University of Law, as well as to not-for-profit Regent¡¯s University London.

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To coincide with university college status, ifs University College will also open a new campus in the City of London, at Lovat Lane, for the 2013-14 undergraduate intake.

Gavin Shreeve, ifs principal, said: ¡°This new status is further recognition of the ifs¡¯ role in providing high quality and relevant financial education.¡±

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He added: ¡°It comes at a time of increased awareness of the need to enhance professional skills in the financial services sector and the wider economy and as undergraduate students increasingly assess the value of their investment in higher education in terms of building employability.¡±?

john.morgan@tsleducation.com