The UK higher education system combines the best elements of tradition and modernity. Some UK universities are among the oldest in the world; others are among the newest. Many provide degrees with a strong vocational foundation and enjoy good links with businesses and professional organisations.The quality and standard of UK higher education are guaranteed through the work of various official bodies. The quality of a university's teaching and its general facilities are assessed by the Quality Assurance Agency (QAA). Research standards are examined by the Research Assessment Exercise (RAE), which publishes its findings every five years. The results of all these assessments are freely available on the internet. Information on quality assurance and assessments is also available from the Higher Education Funding Councils.The quality of UK degrees is one reason why so many people come to the UK to study. Another is value for money. Unlike the equivalent programmes in the United States or Australia, most UK Masters programmes can be completed in one year.The UK has always welcomed students from all over the world. In 2003/2004, there were 96,845 students from the European Union (EU) and 203,210 students from outside of it in the UK at undergraduate and postgraduate level. UK universities are used to looking after the welfare of non-UK students and have well-developed support services and social networks on campus. At postgraduate level, students from outside the UK form over 30% of the entire student body.