One of the largest non-public vendors of higher education in England has gone into management, leaving college students stranded on unfinished guides and seeking out alternative places to look at.
GSM London, which supplied undergraduate and postgraduate enterprise guides at its campuses in Greenwich and Greenford, told its 3,500 college students that every one lesson, classes, and exams could prevent at the give up of September.
The for-earnings college said it had been not able to recruit and keep enough student numbers to stay afloat in what it described as “extraordinarily hard market conditions”.
A GSM declaration said: “Our college students could be supported as a long way as viable at the same time as efforts are made to provide them with knowledgeable options for in which they may be able to preserve their studies past the quit of the present-day teaching semester.
“Discussions are already underneath manner with different better education vendors to perceive options, and information, advice, and steerage will be furnished to students as quickly because the details were finalized.”
GSM’s dying can be seen as a blow to authorities tries to open up the higher training sector to private carriers as a part of its marketization of the higher education zone. It also displays the growing financial pressures on universities.
The University and College Union, which represents university and university employees, known as at the government to appear again at what it described as the “funding loose-for-all” around private providers.
“UCU has again and again highlighted issues about the marketization of schooling and the rapid increase in poorly regulated private vendors,” stated its performing trendy secretary, Paul Cottrell.
“We hope that the government sooner or later takes be aware and looks again on the funding a free-for-all amongst personal vendors who enjoy a competitive benefit in being below-regulated, but will continually place profit earlier than education.”
GSM, which presented stages proven by the University of Plymouth, has claimed a longstanding dedication to widening get admission to, and participation in, better education, providing a course to degree-degree study for college students from an extensive variety of non-traditional educational backgrounds.
With inadequate numbers, but, it was pressured to are looking for out extra funding, securing capital cash injections of £22m inside the ultimate three years. Efforts to find a new purchaser in advance this year failed and administrators have been appointed.
A Department for Education (DfE) spokesperson stated: “We are working closely with the provider and all relevant area our bodies to ensure the scholars affected are given the guide and advice they want to preserve their studies.
“We need a huge, sustainable marketplace in higher schooling which offers college students flexibility and an extensive range of superb alternatives for where and what they observe. Whilst the full-size majority of institutions are in proper financial health, the DfE and [the universities regulator] the Office for Students had been clear that neither will bail out failing vendors.”