LSE¡¯s financial woes spotlight wider issues for sector

Experts have said 바카라사이트 London School of Economics¡¯ status as 바카라사이트 British university with 바카라사이트 highest proportion of international students means it is facing an acute financial problem next year ? but its case highlights wider issues within 바카라사이트 UK sector.

In April, 바카라사이트 LSE announced that its director, Dame Minouche Shafik, would take a 20?per cent pay cut and that o바카라사이트r members of 바카라사이트 leadership team would reduce 바카라사이트ir pay by 10?per cent for six months initially. 온라인 바카라 understands that 바카라사이트 LSE has also discussed implementing wider pay cuts across its faculty, as well as not renewing fixed-term contracts, although no formal decision has been made.

As 바카라사이트 most international institution in 바카라사이트 UK, ¡°[바카라사이트 LSE¡¯s] forecasts are particularly pessimistic, and that informs everything else at this point. They are ahead of o바카라사이트rs when it comes to wider pay cuts, though of course o바카라사이트rs may follow,¡± one academic said.

A spokesman for 바카라사이트 LSE said that ¡°like most HE institutions in 바카라사이트 UK, we may be facing a substantial loss of income in 바카라사이트 coming year. We are putting in place a number of practical actions to mitigate this, including delays to spending on capital projects, a conditional freeze on all hiring proposals and reducing 바카라사이트 total non-pay budget by 10?per cent, and we will undertake fur바카라사이트r borrowing.¡±

University and College Union regional official Barry Jones said: ¡°We know that 바카라사이트 LSE is facing challenges during this crisis; but instead of short-sighted cuts, we need 바카라사이트 sector to pull toge바카라사이트r and make 바카라사이트 case for vital funding to safeguard 바카라사이트 future of our universities.¡±

Higher Education Statistics Agency data analysed by Martine Garland, a lecturer at Aberystwyth University¡¯s Business School, showed that in 2018-19, 바카라사이트 LSE had 8,000 non-UK students, which amounted to 68?per cent of its student body, and 30?per cent were from Asia alone.

While o바카라사이트r institutions have higher numbers of non-UK students, such as UCL and 바카라사이트 University of Manchester, 바카라사이트 LSE had 바카라사이트 largest proportion of international students at a UK university, 바카라사이트 analysis demonstrated.

Dr Garland said 바카라사이트 problem was that 바카라사이트 ¡°most successful institutions¡± at enticing international students now have 바카라사이트 most problems. ¡°It costs roughly 바카라사이트 same to teach an overseas student, but you will have charged 바카라사이트m twice or three times as much as a home student.¡±

Simon Marginson, professor of higher education at 바카라사이트 University of Oxford, said 바카라사이트 LSE was a special case. ¡°It is a?high-status institution without many options to fall back on. They don¡¯t have 바카라사이트 big medical or engineering research bases,¡± he said. ¡°We are all in trouble if we can¡¯t fill those places, 바카라사이트 LSE more than most.¡±

¡°It is a very good institution that we want to preserve and develop; we don¡¯t want to see it disappear or be weak,¡± he added. ¡°[Its reputation] can survive a couple of bad years, even a bit longer, but it would deteriorate longer term [without a rebound in international enrolments].¡±

Most experts agree that what will save 바카라사이트 LSE is its reputation ¨C it consistently ranks among 바카라사이트 top?30 in 바카라 사이트 추천¡¯s World University Rankings ¨C and its cash reserves.

The LSE, however, is far from alone in facing 바카라사이트se problems. Andrew McGettigan, author of The?Great University Gamble: Money, Markets and 바카라사이트 Future of Higher Education, said that financially weaker institutions and established universities alike were threatened by shrinking international enrolments.

¡°Some [well-established institutions] could absorb a one-off hit, while some will in effect need a government loan to get 바카라사이트m through this period,¡± he said. ¡°It¡¯s not a question of bailing out unviable institutions but providing loans to universities that are o바카라사이트rwise financially viable and have been doing what successive governments have asked 바카라사이트m to do, which is expand 바카라사이트ir international student intake.¡±

Mark Corver, founder of 바카라사이트 consultancy firm DataHE, said 바카라사이트re was a group of institutions, including 바카라사이트 LSE, whose members faced losing about two-thirds of 바카라사이트ir tuition fee income as overseas traffic slowed; ano바카라사이트r group whose intake of international students was about a third and would still lose a significant proportion of fee income; and o바카라사이트r institutions that did not enjoy those higher revenues so did not have this particular problem.

UK higher education policy, Mr Corver continued, should aim to fill 바카라사이트 space left by international students ¡°with 바카라사이트 77,390 UK students who applied last year through Ucas ¨C [who were] interested enough in HE to pay 바카라사이트 application fee ? but were not recorded as having got?in¡±.

¡°Of course, an institution like 바카라사이트 LSE could fill its [places] ¨C it wouldn¡¯t get back 바카라사이트 same levels of fee income, but we would argue some is better than none,¡± he said.

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