The University of Buckingham (UB) is one of two private universities in the United Kingdom operating under a royal charter. It is located in Buckingham, England, and was originally founded as the University College at Buckingham (UCB) in 1973. It was granted university status by royal charter in 1983. The university has been closely linked to Margaret Thatcher. As Education Secretary she oversaw the creation of the university college in 1973, and as Prime Minister she was instrumental in elevating it to university in 1983 – thus creating the first private university in the UK. And when she retired from politics in 1992, she became the university's second chancellor, a post she held until 1998. The university's finances for teaching operate entirely on direct student fees: it does not receive state funding (via HEFCE or otherwise). It has formal charity status as a not-for-profit institution dedicated to the ends of research and education. Buckingham offers bachelor's degrees, master's degrees and doctoral degrees through five "schools" (or faculties) of study. The university is a member of the Independent Universities Group, created in January 2015 by eight non-profit and for-profit institutions with degree-awarding powers and/or university title. The group's aim is to be “the Russell Group of the alternative sector” and to dissociate its members from more “dodgy” for-profit colleges. Some of the founding academics migrated from the University of Oxford, disillusioned or wary of aspects of the late-1960s ethos. On 27 May 1967, The Times published a letter from J. W. Paulley, a physician, who wrote: "Is it now time to examine the possibility of creating at least one university in this country on the pattern of [the] great private foundations in the USA." Three London conferences followed which explored this idea. Subsequently, the university was incorporated as the University College of Buckingham in 1976 and received its Royal Charter from the Queen in 1983. Its development was influenced by the libertarian Institute of Economic Affairs, in particular, Harry Ferns and Ralph Harris, heads of the Institute. In keeping with its adherence to a libertarian philosophy, the university's foundation-stone was laid by Margaret Thatcher, who was also to be the university's Chancellor (nominal and ceremonial head) between 1993 and 1998. The university's first three Vice-Chancellors were Lord Beloff (1913–1999), former Gladstone Professor of Politics at the University of Oxford; Sir Alan Peacock, the economist, founder of the Economics department at the University of York, and Fellow of the British Academy; and Sir Richard Luce, now Lord Luce, the former Minister for the Arts. Near the centre of the town of Buckingham is the river-side campus, which is partly contained within a south-turning bend of the River Great Ouse. Here, on or just off Hunter Street, are some of the university's central buildings: the Reception and central administration; the Anthony de Rothchild building (which contains Business and Economics); the Humanities Library; and also some of the student accommodation, looking northwards across the river. Prebend House, a recently restored Georgian house, contains parts of the department of Politics and also Economics. On the other side of Hunter Street, on the so-called 'island', is the Tanlaw Mill, one of the university's social centres—with the main refectory, the Fitness Centre, and the Students' Union Office. Overlooking this site, on the hill above, is the extensive Chandos Building. This complex contains the main teaching areas for English Literature, English Language, Modern Foreign Languages, and the Foundation programmes. It also houses the Ian-Fairburn Lecture Theatre. Adjacent to the Chandos Building, is the Department of Education. This has both a research arm, and also a teacher training (PGCE) faculty. Further on, up the hill, on the London Road, is another element of the campus, in particular the School of Law, which is housed in the Franciscan Building, surrounded by other student accommodation blocks. This is opposite the swimming pool and leisure centre. The university has been expanding in recent years. It has acquired a new site on the west side of the river, which will increase the capacity of the river-side campus as a whole. Teaching on some master's degrees takes place in London, in Grosvenor Place, at the home of one its partner institutions: the European School of Economics, and some Life Science programmes are also run in Central London, in conjunction with Medipathways College (see below).