Oxford University faces “grave” risks and needs more than £1 billion (US$1.6 billion) investment in the next decade to bring its “unfit for purpose” facilities up to a world-class standard, the institution’s outgoing vice-chancellor, John Hood, warned. He admitted that the university was budgeting to make a loss for the fourth year in a row. Hood said Oxford was budgeting for a loss of around £8 million this year. His replacement, Andrew Hamilton, said Oxford faced tough times and needed defending against “political opportunism and crude social engineering” as debate on its role looked set to intensify.
This definitely comes as a shock to Study abroad aspirants and those with dreams to study in Oxford. The scarcity of funds means that they might also have to cut down on the number of scholarships and the amount of financial aid being offered to students.
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