Students could face a terrible fate if UK Universities were to close. Higher education minister Jacqui Smith hasn’t denied nor confirmed this rather scary reality.
Harsh Realities Might Come to Fruition for UK Universities
Speaking in an interview with Sky News, the Minister of Higher Education, Jacqui Smith, was pressed with the question of whether or not some universities would actually have to close down. Smith didn’t give a definite answer, but the possibility seemed very real.
Why It’s Come To This?
Higher education, like the other sectors, is feeling the burn of the economy. With large organisations making job cuts, households struggle financially, and inflation rates add to the pressure.
Financial Costs Are Breaking the Uni System
Universities have also resorted to cutting costs and executing major layoffs of teachers in the industry. Some establishments merged departments, while others closed down faculties.
Labour Is “Left With Massive Torie Crisis” Baggage
The Labour Party has faced major challenges since winning the elections in July. It’s as if they’re peeling away layer after layer of problems “left behind by the former government.” Baroness Smith said the uni fees were another one of the many things they “…were left with as the previous government ran off to an early election.”
Many Universities Are Affected
Reports suggest that UK universities have already begun laying off staff members in several universities across the UK. BBC reported a “£107 million bill for staff redundancies” within Lincolnshire and Yorkshire Unis.
Layoffs Since 2015
According to BBC, the universities have been laying off staff since 2015, and as a result, more than 6,000 staff members were axed. Now the numbers aren’t slowing down as more universities are going the same route.
Hundreds of Thousands of Teaching Staff At Risk
Reports also show that the University of Manchester, Sheffield, Cambridge, and Leicester had some large staff cuts. Envoy reported it was even worse for educators with short-term contracts; “over 100,000 teachers risk losing their jobs.”
The Sturdy Pound Sterling
When compared to other currencies, the British Pound trumps all. Many countries have seen a significant drop in their currency’s value during the last year, reports said. The British Council notes that regular incoming students from Nigeria, Ghana, Pakistan, and Turkey will really feel the pinch when it comes to their local currency.
Too Expensive to Study Abroad
As a result, fewer of these students, who, according to the British Council, make up a large majority of the foreign student population, are able to afford the fees. With the depreciation of their currency, it’s simply becoming too expensive for them to study in the United Kingdom.
Other Stable Currencies Weakened During & After Covid
The British Council also noted that stronger economies, like Australia, East Asia, South Korea, and Japan, have also seen a drop in the value of their currencies.
Covid Repercussions
The pandemic may have thrown a spanner in the works regarding universities being full to the brim with students. Many of these students were from overseas. However, fewer students have made their way to study in the UK since the pandemic, but they have made the bulk of varsity income pre-pandemic.
UK Is a Prime Study Destination
The UK has always been a “Hot spot” for international students. Even now, while the peak has dropped somewhat, the British Council noted that there are still students from Asia choosing the UK over Canada and Australia.
Foreign Students Pay More
According to Sky News, foreign students contributed more than £6,5 billion during 2018 and 2019, which accounted for more than 30% of the fees. It’s reported that UK universities are focusing on international students “who can pay between £12,000 to £50,000,” reports said.
Local Student Fees are Not on Par With Inflation
In contrast to foreign learners, local student fees are reportedly capped at £9,250 per year and haven’t changed since 2017. According to reports, the contribution in uni fees by local students has gone down by 30% and has not even begun to line up with inflation.
Universities Need the Foreign Students
Varsities rely on the income of international student fees to keep courses afloat. Realistically, the cap on local student fees is not feasible.
US Student Visas on the Rise
Meanwhile, America is one of the UK’s biggest rivals when it comes to attracting international students to local universities. In 2023, the US “issued 22.5% more student visas in 2023 than in 2019,” according to the British Council.
Torie Government Cancelled Student Dependents
According to Sky News, the previous government put in place a rule that prevents foreign students from bringing their dependents. By doing so, they tried to reduce the influx of immigrants, but in hindsight, they missed the valuable monetary contribution that international students had brought into the country.
UK No Longer Seem Beneficial For Foreign Learners
It seems foreign students are not just staying away because fees are expensive but also because they can no longer bring their dependents over.
Teaching Jobs Are Not Secure
Predictions by The Office for Students foresee a huge reduction in students coming to the UK. They expect the numbers to drop from 2023’s 760,000 to nearly 200,000 in 2024. As for teachers in higher education, their jobs might no longer be secure.
The Future Remains Uncertain
For both students and teachers, the future is uncertain. With the shortage of funds to fuel higher education and the lack of foreign students to cover costs, teacher’s jobs remain in dire trouble.
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