 In 2005, UCL was finally granted its own taught and research degree awarding powers and all UCL students registered from 2007/08 qualified with UCL degrees.Also in 2005, UCL adopted a new corporate branding under which the name University College London was replaced by the initialism UCL in all external communications.In the same year, a major new £422 million building was opened for University College Hospital on Euston Road, the UCL Ear Institute was established and a new building for the UCL School of Slavonic and East European Studies was opened.