To be fair – I don’t think the penny has dropped in many industries yet – but the coronavirus pandemic has certainly brought forward a long overdue crisis in the university sector. A perfect storm of dissatisfied students, changing demographics, rapidly changing employment skill requirements, poor value for money and an exceptionally concerning climb in sub-prime student debt has led to a BBC headline today (6th July 2020 ) that 13 UK universities are on the brink of insolvency needing a Government bail-out. Is this a surprise? It should not be, and COVID-19 will now likely lead to a rapid fall off in student numbers – particularly those who add to the bottom line at UK universities – overseas students.
The World pins its hopes on a vaccine for coronavirus and UK universities yearn for a solution – but even if a solution for coronavirus is found – expect the other issues to kick in with a vengeance – and soon.
Global Career Accelerators is launching in September and we expect to see further uptake of our industry led, industry managed and industry delivered Accelerator experiences giving young people the opportunity to enhance their hard and soft skills and garner the experience they need to put on their C.V. to give them hope in a time when prospects for young people look fairly downbeat. Watch this space for more updates soon!
By Chris Clarke