Looking at post Brexit educational economy
by James Collins
What is the possible influence of the Post-Brexit economy on education?
Brexit has had countless direct and indirect effects on many economic activities, which have created a ripple effect on other normal daily activities.
For example, in the educational sector, a part of the economic system that is sometimes overlooked in economic news, it will be impacted by Brexit.
How has Brexit impacted the education sector?
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Intake of students from other countries
Brexit will undoubtedly have a direct impact on the intake of students from other countries, and other European countries that are part of the EU among them. Since Brexit will secure borders, students from other EU countries may not be accepted, or may need to fulfil different visa requirements.
That will put a dent in higher education numbers. For example, a large proportion of the number of students in LSE is made up of foreign students. About 40% of LSE students are from other countries and enforcing new immigration laws after Brexit will have a direct impact on those numbers.
Recruitment bottlenecks in the independent education sector
Educational institutions require a variety of skills and in some cases, those might not be available locally. So, colleges and universities might be required, as they have done in the past, to outsource from other countries. Being within the EU has provided a safety net, that offered British education institutions with any support they required.
Leaving this union might have repercussions because universities still need to find and accommodate skilled lecturers and other full-time personnel.
These skilled workers might leave, or may have already left. There have been many reports and articles on this matter. Some will express their views with an economic essay. For additional help, read available essays about economics and education on Writing Bros. It has great examples of writing covering this matter and some other subjects that students might need from time to time.
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Funding uncertainty
The EU’s solid economic base and financial contingencies took care of this entire region, including some funds to improve educational infrastructure within all member states. The UK had access to these funds and used them to fund research or improve universities or higher education institutions.
Right now, there is a grey area with regard to funding. Educational institutions are not entirely sure about future funding and it might mean that the UK has to step in.
Discouragement of studying abroad
There are a lot of students from the UK studying abroad and these students might start to consider pursuing their studies locally instead.
This might lead to the UK experiencing a decline in skills acquired abroad. in other countries. Students might be put off writing an essay to apply for an educational placement in another country.
The unpreparedness of schools might cause more problems
Is anyone really ready for Brexit? Universities are not immune to the unforeseen and they might face even more difficulty than other sectors.
How universities react to this will determine whether they succeed or fail and it is all in the planning ahead. Planning ahead when the university does not know what their income will be makes it even trickier.
Final thoughts
Brexit may have a negative financial impact on the education sector. They might face shrinking profit margins because of fewer students coming from abroad or other EU countries. In addition, there could be a skills transfer shortage.
Author’s Bio:
James Collins works for a non-profit organisation that looks after education and welfare projects of underprivileged children in Africa. He is also a writer and works for an assignment service of high repute. When not at work, he likes to swim, practice yoga and listen to retro songs.
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