The Office for Students releases an update on higher education’s financial stability
In April, the consultancy London Economics predicted that the coronavirus would result in a £2.6 billion shortfall in university finances this academic year. Yesterday, the Office for Students published an update on university financial sustainability that looked much rosier.
The OfS says that “strong cash balances, increased but sustainable borrowing, including through government-backed loans, and the fall in income from international students’ fees being less than feared” have all combined to leave higher education in “a reasonably stable financial position”.
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