OUT TO LUNCH
A column in last week’s The Spectator magazine stated that more than a third of UK universities are “in financial doo-doo” and that staff cuts, cancelled courses, slashed research budgets and possible bankruptcy cannot be far off.
Part of the problem is that domestic students who pay £9 250 in fees actually cost £11 750 to teach. The domestic rate for students was last raised in 2017 and has not kept pace with inflation.
However, that differential between what is paid and what it costs to teach adds up to a collective annual £5 billion loss. Previously that loss would be partly made up by international students paying £20 000 each but UK government bans on foreign students bringing dependants with them has led to dramatic falls in non-EU students.
I am pretty certain that our own SA universities are experiencing similar financial problems but for very different reasons. We don’t rely on lots of foreign students paying higher fees to subsidise the locals; our universities simply aren’t good enough in the world rankings to edge out the natural choices of MIT, Harvard, Stanford, Oxford, Cambridge and their ilk.
The highest ranking I could find on the timeshighereducation.com website was University of Cape Town at 160 and Stellenbosch not far behind but most of our universities are way down the list among what might generously be termed ‘the also rans’.