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The University of Buckingham (UB) is a non-profit, private university in the UK and the oldest of the country's five private universities. 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 was closely linked to Margaret Thatcher, who as Education Secretary oversaw the creation of the university college in 1973, and as Prime Minister was instrumental in elevating it to a university in 1983 – thus creating the first private university in the UK. When she retired from politics in 1992, Lady Thatcher became the university's second chancellor, a post she held until 1998.