Interesting to see how US
#research institutions will survive this significant budget gaps... Might come with lab closures, increase student fees, more
#teaching courses of lower quality...
@UKRI_News research councils typically pay 80% of Full Economic Cost of the project in UK
Last year, $9B of the $35B that the National Institutes of Health (NIH) granted for research was used for administrative overhead, what is known as “indirect costs.” Today, NIH lowered the maximum indirect cost rate research institutions can charge the government to 15%, above what many major foundations allow and much lower than the 60% that some institutions charge the government today. This change will save more than $4B a year effective immediately.