Now that the UK has already left the European Union, what costs could Brexit create?
Originally, the UK would have quit EU on 29 March 2019, but was extended until 31 October 2019.
While Brexit is projected to hit hard on higher education, many political analysts believe that the UK is losing sight of its benefits.
According to Richard Whitman, the associate fellow at Chatham House, the exit agreement provides an ample time for UK’s political leaders to determine and plan out on how they will participate in the European Union in the near future.
Another positive side to the Brexit is that the decline in the number of EU students can help UK students increase their chances of getting into university. Due to the high demand for higher education, the affected universities could offset its drop with home students.
The Higher Education Policy Institute (HEPI) also released research pointing out the benefits of Brexit. According to HEPI’s data, UK top universities except Cambridge and Oxford will receive an additional revenue of £10m, non-British European students need to pay higher European students.
Professor Alastair Buchan, Oxford University’s head of Brexit strategy, also claimed that Brexit would be good for UK universities. Alastair explained that leaving the European Union will allow British universities to establish global networks and bring in the world’s best students outside of the EU. In fact, according to research, British universities could benefit from a tuition fee by £187m in the first twelve months alone, if the international rate applies to European students.
Meanwhile, to mitigate Brexit downsides, the government considers possible ways to improve the visa process to support student employment. In addition to extended visas, the Department of Education and the Department for International Trade reveals an international education scheme with a thirty percent target increase in the number of international students in the coming years. The strategy targets an increase of 600,000 from 460,000 international students at British universities by 2030.
Damian Hinds, the Secretary of State for Education, explained that they are focused on maximizing the potential of their assets and reaching out to their global partners as they prepare to leave the European Union.
The UK government is now doubling its effort to streamline visa regulations and create more opportunities for their graduates to work in the country after their study.
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