Hundreds of university staff across the UK are at risk of losing their jobs as universities scramble to cut costs due to a significant drop in foreign student enrolment.
University leaders are warning of a range of cost-cutting measures, including course closures and staff redundancies, as institutions face financial deficits, according to The Times.
At least 15 universities in the UK have already announced job cuts and other cost-saving measures this academic year in an effort to stay afloat. This follows news in March that over 120 staff at Sheffield Hallam University received “risk of redundancy” notices, and the University of Kent proposed cutting 58 jobs and nine courses due to “financial challenges.”
A major factor in the financial squeeze is a freeze on tuition fees for domestic students. Universities have traditionally relied on higher fees paid by international students to cover costs. However, with a 37% decrease in overseas student enrolment expected for the coming year, according to early acceptance data, this financial model is under threat.
The Higher Education Statistics Agency reports that overseas students comprised 24% of the total student body in 2021-2022. Northumbria University specifically cited a 71% drop in anticipated Nigerian students due to the weakened Nigerian currency as a reason for their planned cuts.
John Rushforth, executive secretary of the Committee of University Chairs, expressed his deep concern. “I’ve been in higher education for 30 years and senior leaders are more worried than I’ve ever seen them,” he stated. Rushforth warned of potential university bankruptcies and the difficult choices institutions are facing.
“Taking fewer British students is a last resort, but if you’re making a loss on something, people have to consider it,” he said. “Universities have to think hard about what they want to protect, and there will be less choice for students.”
The pressure is on for universities to find solutions. This situation could lead to a decrease in the quality and variety of educational opportunities available in the UK.
