🔥 Cambridge University, facing a financial crisis in times of epidemic shortages of overseas students, recommends government support The UK’s 800-year-old Cambridge University, which is hard to pay, asked the government for help
2 months ago
- The financial crisis worsened due to the decline in the number of international students
- The annual expenditure of the 800 year old university amounts to approximately 21,000 crores.
Cambridge University, one of Britain’s largest and richest higher education institutions, is also witnessing the effects of the corona epidemic. In fact, the university is facing a financial crisis due to the epidemic, and the crisis is about to grant its employees a salary. According to a report in the Daily Mail, this university, which spends 21,000 crores annually, has asked the government for help.
The university’s vice chancellor, Professor Stephen Toop, predicted the loss of millions of pounds to the institution due to the epidemic. In this email, he told all staff and students that he was expecting help from the government to avoid situations such as salary and withdrawal.
Decline in the number of international students
He also said that the next academic year could be stressful for the university. Due to the decrease in the number of international students due to the epidemic, the university is facing this financial crisis. Professor Toop also wrote in his email that due to the lack of money at the university and the ongoing economic downturn, significant changes at the university would be required.
Demonstrations on eliminating cut wages and temporary workers have also taken place in Cambridge in the past two months.
Online lecturers will visit the university this year
Just last week, the university decided to organize online lecturers all year round. After that, different types of spending cuts at this 800 year old university are analyzed. According to the data, every fifth student has decided to drop out of school this year if conditions such as social distance persist until September.
According to experts, British universities could lose around £ 760 million in this case. When asked about this, the prime minister said he hoped classrooms could be taught at all universities by next year.
The total assets of Cambridge are around 12 billion, the Trinity is the richest
According to the 2018 financial statements, the total assets of the Central University of Cambridge and 31 colleges totaled 11.9 billion. The assets of the Central University were given at £ 4.9 billion and that of the colleges at £ 6.9 billion. The Central University of Cambridge’s Maintenance Deposit Fund (Endowment Fund) is currently £ 3.4 billion. £ 2.3 billion is spent annually on all university activities.
The university has total assets of £ 5.2 billion, including real estate. Trinity College, Cambridge, has a net worth of £ 1.4 billion and is the richest of all 31 colleges. This is followed by St. John’s College with £ 780 million and Queen’s College with £ 110 million in assets. Clare All College has the least wealth, with a total fund of £ 33m.