Homerton, currently an “approved society” of the University, has moved towards gaining full College status.

The University Council has recommended that Homerton should become a full college, despite not having a large enough endowment.

Homerton’s Principal, Kate Perry, said she was pleased by the news. “I’m delighted that we have reached this stage and if the university gives formal approval the Privy Council may well be in a position to approve Homerton’s application for collegiate status. ”

After considering a report from a committee, set up to consider Homerton’s request, the Council declared itself “satisfied that the college is in a sound position, in terms of educational provision and otherwise, to move to full College status”.

The decision comes despite Homerton’s failure to meet the financial guidelines for founding a College. The Council observed that its “financial resources fall somewhat short of the minimum endowment for a College of its size and composition”. Their most recent accounts, showing sufficient endowments, were published before the full impact of the economic slowdown. Homerton has pledged not to draw funds from the central Colleges Fund in the first five years after becoming a College.

If successful, Homerton will become the first College to be established since Hughes Hall was granted full collegiate status in 2006.

By Andrew Bellis