Universities are facing a financial struggle which the government have stated they cannot bail them out from. This means that either universities need to find new ways to make money and cut costs or face the threat of crippling debt into closure.

UCAS data shows that there have been 316,85 UK 18 years olds that have applied to universities or colleges this year which is a 0.7% increase from 2023.

There has been a 0.3% decrease of applicants of all ages including those over 18 since 2023.

Many people did put off beginning university due to COVID as online learning was not a sufficient replacement for most courses. Once normal teaching resumed applicants increased in numbers again although many find online teaching still being widely used in courses.

 

What action are Universities taking?

Unfortunately for staff and students, for universities to save the most there need to be cuts. This enables the rest of the Universities facilities to continue running.

Several Universities are planning to cut staff by 10% as well as cutting several courses to save.

Coventry Universities plans to make £100m worth of cuts over the next two years.

University of Kent has confirmed they are cutting 6 courses.

Staff at Goldsmith’s University in London are taking a marking boycott against the planned staff cuts.

Cutting course would mean many students lose the choice to follow this path and could be encourage to pursue other directions.

 

Why are universities struggling?

Due to Brexit as well as new migration laws making it more difficult and expensive for international students to gain a visa as well as study in England those from outside of the UK are opting out of this option. International students pay much high tuition fees giving Universities a large source of revenue. Limitations on international student being able to bring family with them to the UK also put people off the move.

Tuition fees have been frozen for around a decade and continue to be for a few more years. This is great for students but this means that universities are not able to keep up with rising inflation and the cost of maintaining the institutes.

The rising cost of living including student housing makes new students more unlikely to choose universities. Many choose paid work over further education. Research shows 1 in 10 students access food banks, living as a student for many is not worth it financially. If you are financially struggling at University then try these hacks to save money.