British universities may lose between 13,000 crore and 40,000 crore income from enrollment of Indian student due to the effect of covid-19, 13 universities, out of 165 higher education institutions, may fold up if there is no relieve, a report published by the Institute for Fiscal Studies warn.
The warning comes a week after the government announced a rescue package for the sector, including £280m of funding towards research costs, and access to long-term low-interest loans worth up to 80 per cent of income lost by international students.
The least prestigious universities are at high risk.
IFS, have not named 13 universities yet, but the authors suggest that those with the lowest reserves and smallest investments will need a government relieve restructuring to survive.
Amit Tiwari, President of Indian National Students Association UK, said “I would not be surprised if there was a 50% drop in Indian student this September” also “the y pay 3 time s more then the domestic student pays.
The UK continues to be a famous destination for Indian students to pursue higher education and the number of students migrating to the country has been rising since 2016.
Last year 37,540 Indian student join British universities.
Lockdown related losses include:
Fewer international student enrolments.
less income from student accommodation, conferences and catering.
losses on long-term investments.
In addition, universities which are running pension scheme deficits will see them widen during the pandemic as investments stagnate
All registered higher education providers to inform the Office for Students if they encountered financial difficulties, Nicola Dandridge, chief executive of the universities watchdog for England, urged. She added “In these circumstances, we will be proactive in ensuring students’ interests are protected, including helping make sure that students can find an appropriate course elsewhere should any provider close,”.
