News | Story

Coronavirus: Universities fear fall in lucrative overseas students

Default featured image

You are completely incorrect and will need to do some further research. 

The solution is a combination of education and experience.

Many individuals are unlikely to consider education to be a component of the economy at all. It is safe to say that the groves of academia are above such filthy matters as money and finance.

Not a smidgeon of it. Every aspect of education is fueled by money: endowments from affluent alumni, catering and lodging fees, conference facilities, and the most important of all – luring large numbers of fee-paying students every year.

This presents a particular problem for the education sector since it is particularly susceptible to the coronavirus pandemic.

For hundreds of years, the organization’s business strategy has been to bring thousands of individuals from all over the nation and the globe together to sit in rooms for three years and chat to one another about their lives.

As a consequence, practically all of the company’s revenue sources are being targeted at the same time.

Currently, enrolled students have been sent home, and many classes have been shifted to the internet. If lockdowns continue across the globe, it will be difficult to attract new students in the fall, and much more difficult to bring them to campus once they arrive.

In addition, conferences are not taking place, and all of those affluent graduates are not quite as wealthy as they had assumed they would be.

This has an especially negative impact on universities in the Western English-speaking world. They have a tendency to demand high tuition costs to even domestic students and to earn money off of on-site dining and lodging on top of that.

They also tend to demand much higher fees from international students, which makes them a significant source of revenue for many colleges. For example, in the United Kingdom, undergraduate students from countries other than the United Kingdom and the European Union might be charged yearly tuition fees as high as £58,600 instead of the customary £9,000.

As a result, although globalization for many means importing lower-priced manufactured items from all over the globe, one of the most significant recent economic triumphs for established nations has been luring students from other parts of the world.

Related News

Comment

Your email address will not be published.

Share The News

Follow Us

Newsletter