This article will consider the funding of the further education sector in Scotland. In order to connect the themes of this article with the author's experience of teaching in further education it begins with a personal perspective. It then goes on to take a brief look at funding policies since incorporation, consider whether present levels of funding are adequate and whether the colleges are truly independent. Attention will be drawn to the serious financial difficulties to be found in the sector; this despite significant growth and greater overall levels of funding. It will be argued that this is a consequence of reduced funding per unit of student activity. An attempt will be made to show that the financial status of colleges is more the result of Government policy and funding than shortcomings in college management. Finally, it will ask whether there is enough research into FE and wonder whether there is unintentional discrimination against FE.