St Andrews University has seen a “substantial increase” in its deficit due to a “significant” drop in the number of postgraduate international students.
The historic institution is £4.4 million in the red and will “recast” its financial plans for the years ahead to try to plug the black hole.
University bosses have said recruitment for some posts will be frozen, but there are no plans for any redundancies.
It comes as nearby Dundee University faces “inevitable” job losses due to a huge £30 million funding gap which threatens the institution’s future.
Sources told The Courier they were much more relaxed about the position of St Andrews compared to other universities such as Dundee currently in crisis.
Documents show the Fife institution’s fee intake from international students was £840,000 under what was hoped for 2024-25.
The university brought in 129 fewer postgraduate students from abroad than planned.
But this was partially offset by the target for overseas undergraduates being exceeded by 90.
University Principal Professor Dame Sally Mapstone wrote to staff in October outlining plans to improve the financial outlook.
The university also pointed to the “additional burden” of the UK Government’s decision to increase national insurance for employers.
A spokesperson said: “Financial challenges facing the sector, especially those relating to long-term under-investment by governments and a significant drop in overseas postgraduate recruitment, are very well documented.
“Significant progress has been made to improve our in-year position thanks to the cooperation and support of staff and students.
“We have not had to consider measures such as redundancies or a travel ban, which are being implemented at other institutions.”
The university is in a better financial position now than it was four years ago when it faced a £25 million black hole.
The Courier has reported extensively on the crisis at nearby Dundee University.
Earlier this month under-fire principal Iain Gillespie suddenly quit his post.
We revealed how he took lucrative trips abroad including a stay at a luxury Hong Kong hotel despite the university’s precarious situation.
Staff at the university overwhelmingly backed a vote of no confidence in the institution’s remaining management team earlier this week.
Conversation