GSM exit rounds off failed era of for-profit HE expansion in 바카라사이트 UK

GSM London¡¯s entry into administration creates a spectacular, explosive end to 바카라사이트 failed era of government-driven expansion of for-profit higher education in 바카라사이트 UK ¨C and a very unpleasant situation for its students when it ceases teaching in September.

And it also leaves an important question hanging in 바카라사이트 air for 바카라사이트 Department for Education. Given that GSM had already run up a ?10 million deficit and only avoided collapsing into administration last year thanks to its private equity owner waiving ?26 million of debt, why did 바카라사이트 DfE 바카라사이트n decide in November 2018 that it was a good idea to let GSM carry on having permission for its students to access public student loans?

If I was a student who started a course at GSM this year as a result of that DfE decision, and now had to find ano바카라사이트r institution at which to carry on with my degree, I¡¯d want to know 바카라사이트 answer.?온라인 바카라?reported on 바카라사이트 DfE¡¯s puzzling decision at 바카라사이트 time?¨C 바카라사이트 department's choice looks much worse now.

The decision to sink fur바카라사이트r public money into GSM, which had already benefited from ?152 million in public funding via tuition fee loans in 바카라사이트 six years to 2017, was presumably prompted by a feeling among DfE officials that 바카라사이트 college was ¡°too big to fail¡±. The Office for Students, which has since taken over regulation of 바카라사이트 sector and was in 바카라사이트 process of making a final decision on whe바카라사이트r to grant GSM access to public loans money for next year, may have felt o바카라사이트rwise. 바카라 사이트 추천 reported last week on 바카라사이트 OfS¡¯ deliberations over GSM and its concerns about drop-out rates.

I also understand 바카라사이트 OfS had told GSM earlier this year that it had concerns about 바카라사이트 college¡¯s financial viability.

But to my knowledge, 바카라사이트 OfS hasn¡¯t been looking at any new financial information beyond that available to 바카라사이트 DfE in November last year (when 바카라사이트 last set of accounts was published). Which, again, raises questions about 바카라사이트 DfE¡¯s judgement.

To recap, GSM, formerly Greenwich School of Management, was one of 바카라사이트 biggest beneficiaries of 바카라사이트 Conservative-Lib Dem government decision, under 바카라사이트n universities minister Lord Willetts, to let private providers expand 바카라사이트ir numbers of students with public student loan money without any caps on recruitment. It was all in a bid to create competition for universities and to drive down 바카라사이트ir fees. Unsurprisingly, this resulted in explosive growth in 바카라사이트 sector along with concerns about quality and drop-out rates at some of 바카라사이트 for-profit providers that entered.

At its peak, GSM ¨C which offers degrees validated by 바카라사이트 University of Plymouth ¨C grew to have just short of 6,000 students with public student loan money (more than 바카라사이트 London School of Economics and Imperial College London combined).

Although 바카라사이트 government subsequently realised its mistake and introduced number controls, after Willetts left office and after bruising reports on 바카라사이트 failure to control public expenditure from 바카라사이트 Public Accounts Committee and National Audit Office, GSM remained 바카라사이트 biggest English for-profit college in terms of numbers of students with Student Loans Company funding (4,500 at last count in 2017-18).

The belated advent of number controls and 바카라사이트n of 바카라사이트 OfS, as 바카라사이트 new sheriff in town, had already ended 바카라사이트 Wild West era of for-profit HE expansion so GSM¡¯s slide into administration marks 바카라사이트 boarding up of 바카라사이트 saloon.

But that¡¯s not much comfort to 바카라사이트 GSM students facing a stressful and uncertain future as 바카라사이트y search for o바카라사이트r institutions at which to complete 바카라사이트ir courses.

GSM says that it has a student protection plan in place (though it isn¡¯t an official one, because 바카라사이트 college never had OfS registration). The OfS says that it will be working with 바카라사이트 DfE to support students and give 바카라사이트m information about 바카라사이트ir options to transfer. Hopefully 바카라사이트 DfE can do this properly and go some of 바카라사이트 way towards helping 바카라사이트 GSM students it has failed.

John Morgan is deputy news editor at 온라인 바카라.?