New @LE_Education report for @ucu out today

1.Combining the impact of the economic downturn with the expected pandemic deferral rate, compared to 2018-19 1st year enrolments, 232,000 students will no longer enrol in higher education in 2020-21 – equivalent to a 24% decline

http://2.In  terms of the financial impact associated with this loss in first-year students, the total decline in just tuition fee and teaching grant income experienced across the sector was estimated to be £2.472 billion

3.Although the average loss in income per HEI stands at approximately £20 million, given the differences in the reliance on international students by different institutions, this varies significantly. Some institutions might expect to lose more than £100 million

4.If university expenditure declines to the same extent as the expected decline in income, this would result in approximately 30,000 job losses across the higher education sector

5. Combining the reduction in university income and expenditure with the indirect and induced ‘ripple' effects throughout the wider economy, the pandemic would be expected to result in a decline in UK economic output of £6.1 billion, as well as a total of 63,000 job losses

Full Report here
http://londoneconomics.co.uk/wp-content/uploads/2020/04/LE-Impact-of-Covid-19-on-university-finances-FINAL.pdf