These unis bet on the foreign students. And a few factors, primarily brexit, has resulted in that bet not paying off.
I'd personally like to see how that 5bn a year is spent. Cause even at 50k/staff member, and staffing costing 75% of costs, that's 75,000 employed in our 15 unis, or 6k each. Which for Edinburgh, Glasgow, Aberdeen, and St Andrew's is plausible. But UHI? Abertay? Stirling?
I suspect a large amount of debt payments in essence. Especially at Edinburgh and Dundee, both of whom own vast chunks of their cities, and given these students aren't here: sell up
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cyrl@lemmy.world · 4 pts · 5d
The issue particularly for Edinburgh which they've made for themselves is that most of the land they could sell is student flats which don't meet standards as any other form of accommodation so don't hold the value they'd need to see.
Why the boards of these units ever saw engaing in massively debt-laden construction schemes on this scale as appropriate for an educational institution escapes me.