Higher education institutions emerge relatively unscathed amid coronavirus (COVID-19)

Higher education institutions emerge relatively unscathed amid coronavirus (COVID-19)

The Office for Students (OfS) has reported that the higher education sector in England is ‘in reasonable financial shape’ despite the impact of the coronavirus (COVID-19) pandemic. In a newly published report on the financial sustainability of higher education providers in England, it was found 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 combined to leave the sector in a reasonably stable financial position’. Nevertheless, chief executive of the OfS, Nicola Dandridge, noted that there are ‘a number of uncertainties which will continue to affect finances both now and into the future, not least the fact that it is still not clear what the overall impact of the pandemic will be’. She added: ‘At this point in time, though, we believe that the likelihood of significant numbers of universities or other higher education providers failing is low.’

The report can be read here.

Source: English higher education ‘in reasonable financial shape’ despite impact of pandemic

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