The professors of the college constitute the Presbyterian Theological Faculty of Ireland (PTFI) which holds a Royal Charter to award postgraduate degrees.

In 2003 the college celebrated its 150th anniversary by completing a £2.8million pound refurbishment in which individual study bedrooms with ensuite facilities were added.

Alister E. McGrath, Professor of Historical Theology at the University of Oxford gave a public lecture entitled "Renewing our vision for the future of Protestant Christianity in Northern Ireland".

[19] The Welsh Presbyterian theologian Stephen N. Williams, who had held the Chair of Systematic Theology from 1994, was succeeded in 2017 by Michael McClenahan.

In 2018 there was "a refresh of the College's Coat of Arms" with the help of a digital heraldic artist, including discussion of the motto to "buy the truth and sell it not".

"[22] The review also raised concerns about a lack of diversity in the faculty, noting that "there are now no full-time female members of staff teaching on the undergraduate programmes" and that the full-time teaching staff "are all male and from a Presbyterian background", with a requirement that they "be committed to working within the Christian ethos and doctrinal framework of the Presbyterian Church in Ireland".

and "External examiners have commented favourably on the teaching and learning support provided to the students during the pandemic and have confirmed the standards and comparability of awards.

[33] Until 2021, the college had provided teaching and assessment for undergraduate and postgraduate awards offered through the Institute of Theology at Queen's University Belfast.

[36] In its 2021 report the QAA stated that "the College acknowledged that offering a full range of modules has been difficult to resolve for reasons of financial viability.

However, students are largely satisfied with the variety of both formal and informal feedback mechanisms and described tutors as attentive and helpful.

Specifically, a disciplinary panel held that a statement about same-sex relationships which was not aligned with the doctrinal position of the professor's employer was a serious breach of discipline, as was a failure to defend the college's reputation when its link to Queen's University Belfast was questioned.

Former Presbyterian ministers who had since left to pursue other careers, such as Richard Hill[47] and Roy Simpson[48] accused the church of 'stifling public debate', and Ian Hazlett, Emeritus Professor of Theology and Religious Studies at the University of Glasgow, where he had supervised Professor Kirkpatrick's doctoral studies, said that the 'semi-secret plotting' that led to "Laurence Kirkpatrick's dismissal from his academic post by non-academic churchmen reminded him 'in some respects of the Inquisition.

'[49] Trevor Gribben, Clerk of the General Assembly refuted these claims in an interview on BBC Radio Ulster's Sunday Sequence, saying 'people are free to debate in public, it is the nature of that discourse that is important … When we speak about one another and to one another, particularly as Christians, we need to do that in courteous and constructive ways.

[52] In 2020 Union Theological College announced it would partner with the Roman Catholic St Mary's University, Twickenham for the awarding of undergraduate degrees.

That is an important new development for Union College and it's a positive sign for the new Northern Ireland where such sectarian divisions are perhaps a thing of the past.

degree program will now have the opportunity to continue their studies at the Ph.D. level at Union Theological College, while still being supervised by Davenant Hall faculty.

It was announced that to facilitate this, five of Davenant Hall's leading instructors (Matthew Hoskin, Joseph Minich, Bradford Littlejohn, Michael Lynch, and Alastair Roberts) would join the faculty of Union Theological College to supervise Ph.D. research within their fields of expertise.