Economic Struggles: Nigerian Student Deposits At UK Universities Fall By 65%

Economic Struggles: Nigerian Student Deposits At UK Universities Fall By 65%

Due to the ongoing economic crisis in Nigeria, payments by Nigerian students for the new academic session starting in September at UK universities have decreased by 65% compared to the previous year, according to a report by the Financial Times of London…… CONTINUE READING

The report also noted a 44% drop in payments from Indian students compared to August 2023. Both Nigeria and India are among the top three contributors to the League of International Students in the UK.

The Financial Times cited data from Enroly, a platform used by a third of international students for managing enrollment, which revealed a 35% overall drop in deposits for UK university places by foreign students this month, relative to August 2023.

Paul Kett, senior education and skills adviser at PwC UK, indicated that some institutions may need to take significant steps to ensure their financial stability. Despite some signs of recovery this month, the number of international students applying to UK universities remains significantly below recent levels, leaving some universities in financial distress.

Education Secretary Bridget Phillipson criticized the previous Conservative government’s negative stance towards international students and emphasized the new Labour government’s commitment to welcoming them.

The data highlights a substantial decline in deposits from Nigerian and Indian students, with Nigerian deposits down by 65% and Indian deposits down by 44% compared to August 2023.

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