In the UK, around 15 universities are contemplating significant job cuts and course reductions for the current academic year.
The Times reports that many more institutions have announced cost-saving measures, potentially leading to redundancies or the elimination of courses to save tens of millions of pounds.
These actions may stem from recent higher education reforms by the UK government aimed at curbing "rip-off" degrees and ensuring that student visas are utilized for educational purposes rather than immigration.
Overseas students not pursuing research degrees are now prohibited from bringing their families, and there's a proposal to abolish visas allowing students to work in Britain post-graduation.
As universities scramble to cut costs, students are experiencing fewer teaching staff, diminished quality, and limited options due to budget constraints caused by a decline in wealthy international student numbers.
Tuition rates have remained stagnant for over a decade, and with most colleges facing financial losses from domestic students, they've relied on revenue from international students, who pay significantly higher fees.
Despite a 60% increase in international student numbers over the last four years, early acceptance data predicts a 37% decline in the upcoming fiscal year. Particularly, data from Nigeria indicates a projected 71% decrease, reflecting a sevenfold enrollment increase in four years, surpassing the entire EU with 33,000 students at British universities.
The potential bankruptcy of some UK universities looms large, with John Rushforth of the Committee of University Chairs expressing deep concern and highlighting the need for drastic measures to avert financial collapse. Universities are considering discontinuing certain courses, predominantly in humanities and languages.
Economic turmoil in Nigeria has further exacerbated the situation, leading to a sudden reduction in student numbers from the country and putting additional financial strain on universities.
Rachel Hewitt of MillionPlus attributes these challenges to the tuition fee model, high inflation, and government policies that deter international students, ultimately jeopardizing both the higher education sector and the UK economy.
