Even with financial turmoil in the higher education sector, UK institutions educated 50 national leaders globally, who were in post in 2022, thereby overtaking the US, Russia, and France. Oxford has produced the most national leaders globally – 36 since 1990 – while the London School of Economics (LSE) follows with 24. Further key contributors are the other members of the University of London federation, the University of Manchester, and the University of Cambridge.
Notable global political figures that hold a UK university degree include the Finnish president Alexander Stubb, Antigua and Barbuda’s Prime Minister Gaston Browne, and Namibia’s first female president-elect, Netumbo Nandi-Ndaitwah.
Nevertheless, UK universities are currently grappling with severe financial strains. A report by the Office for Students (OfS) revealed that by next year, up to 72% of higher education providers could be in deficit, with 40% at risk of low liquidity. Job cuts, course closures, and the decline in international students continue to put pressure on higher education institutions and highlight their flaws.
An additional burden, linked to inflation, is the increase in tuition fees for home students by the next academic year - the first rise in eight years. Fees are expected to rise to £10,500 by 2029, though experts argue that this will not be enough to secure a stronger financial footing for UK universities. The OfS calls for “bold and transformative action” such as mergers or cost-sharing.
For the UK to uphold its status in higher education, universities must take immediate measures for viable financial solutions. Vivienne Stern MBE, chief executive of Universities UK, said:
“We’ve always known that our universities are a national asset – and this report demonstrates just how extraordinary they are [...]. Studying for a degree at a UK institution can shape a life, and many world leaders look back on their student days here with glowing pride, and credit their institution with who they have become today. It is essential that these less tangible benefits of a degree are not forgotten, and that we protect our universities.”