08 August 2024
The government has published its monthly visa data which shows that Sponsored study visa applications were down 16% this year, when compared to January-July 2023.
Lisa Randall, partner and head of higher education at RSM UK, comments: ‘Visa restrictions are having a detrimental effect on the bottom line of UK universities. Higher education providers predict their income streams based on a diverse student population, and this dip in international visas, combined with lower UCAS application this year, will rock the financial stability of many UK universities, at a time when financial sustainability of the sector remains high focus.
‘Filling this financial void will take investment away from rebasing its curriculum, attracting and retaining the best staff and estate improvements, all of which would benefit the student experience. However, for institutions on the fringes of financial collapse will struggle to offset the expected losses without support, which could lead to further consolidation in the market.
‘Next week’s A-level results will play a pivotal role in the financial health of our universities as better than expected grades could lead to more school leavers considering university which, in turn, could help to bridge the funding gap left by international students.’