Academic common room
3 universities going bankrupt
JC4PMPLZ · 31/10/2018 23:29
So, anyone know which are referred to in a report in i and elsewhere. One in North, 2 on south coast....lucky for me mine is not either of tjose...but we are not flourishing either
JC4PMPLZ · 01/11/2018 10:11
OK - so maybe Sunderland or Cumbria and Plymouth Marjun - so why aren't Kingston and UEL in the firing line - yet at least. Just wondering as I know quite a few people at each and would think they would be getting antsy.
LongHaulSally · 01/11/2018 18:02
Don't think it can be Sunderland as the i article specified NW? But it's still concerning generally for the sector.
AlwaysColdHands · 01/11/2018 19:57
The speculation I heard was Bolton or Cumbria (wouldn’t be surprised by the latter). Have no evidence base for this though!
bigkidsdidit · 01/11/2018 20:42
Lots of speculation on the south coast that one is Chichester
user2222018 · 01/11/2018 21:02
why aren't Kingston and UEL
The THES list gave the deficits last year, but didn't give information on what fraction of income these are. Kingston is in a much better position than some of the other institutions you name to cope with a deficit.
BTW even at the other end of HE institutions i.e. large RG universities there are significant financial concerns. A number of RG universities are running voluntary severance and targeted redundancy schemes to cut back on costs.
ClashCityRocker · 01/11/2018 21:07
Forgive my ignorance, but what happens to the students if a university goes bankrupt?
LongHaulSally · 02/11/2018 16:55
This Guardian article mentions Cumbria and Solent.
Also mentions that the Office for Students 'has a student protection package in place'. So I guess that there would be some support for affected students but it's not entirely clear?
ShalomJackie · 02/11/2018 17:10
The article mentions Cumbria or Solent or anywhere in between. I suspect as one of the most northerly and one of the most southerly. It also says it won't name the bankrupt unis so I suspect it isn't them.
LellyMcKelly · 03/11/2018 21:24
I’d be surprised if it was Solent. They’re fiscally conservative and hold significant reserves. They’re probably in a better position financially than Southampton University.
user2222018 · 03/11/2018 21:54
I don't think it is Solent either. But in terms of risk/credit status, they are clearly in a worse position than high tariff, research intensive universities. All low tariff institutions are very vulnerable in the coming years.
merryMuppet · 11/11/2018 13:21
Solent has given an official statement that it's not them on The Student Room...
There is ongoing speculation, following recent media stories, about the state of the University’s financial situation. We are able to confirm that Solent University is not one of the universities at risk.
We have been through a period of reorganisation and a re-focussing of our strategic priorities which has delivered on-going performance improvements.
We will continue to monitor our financial position and are working work hard to create more opportunities for the University to expand and diversify, in order to ensure that Solent continues to be seen as an attractive choice for people looking for a university education.
We hope this provides reassurance that we are not an ‘at-risk’ institution.
Can I just say I have no personal attachment or interest in Solent but just saw it earlier as I do have a daughter about to apply for uni and was curious myself trying to find out which universities are specifically at risk and think it's important to get correct information about there rather than potentially damaging speculation so thought I'd share...
MrChris761 · 07/01/2019 00:25
HELLO - sorry mum's but I had to write a reply on here so I had to register as a male.
Anyway Bolton University has stated in the Manchester Evening News in November 2018 that it is not one of the unis that are facing bankruptcy. I've looked at the (published??) accounts and they had a surplus of funds last year with things continuously getting better. They don't have any loans at all now.
Good news for mum's with youngsters etc going to Bolton. But I'm very sorry I don't know and havnt looked into other universities. (I'm lazy and from Bolton....).
MrChris761 · 10/01/2019 05:25
Yeah that's a very good question. I don't know either? Perhaps financial managers who work I or for universities could give us an indication ar least
I feel 5hat they would be bailed out by central government, but that's just a thought- I really don't know - but would the system just leave a university to break apart and leave thousands of students with no where to go?
We bail out banks and other businesses so why not a university?
alwayscrashinginthesamecar1 · 10/01/2019 05:46
I used to work in the Finance Dept at Kingston and they were minted then (this was about 15 years ago though). They made a lot of money from foreign students, I'd be surprised if that has changed much.
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