University of Exeter - Credit crunch slows construction

Student accommodation that was due to be built by Into University Partnerships at the University of Exeter has been delayed because the company has had difficulty raising finance. Into, which has set up joint ventures with universities to provide foundation courses to foreign students, had agreed to fund a student block at Exeter in the hope of increasing its recruitment of international students from 265 last year to 735 by 2015. Building work was due to begin last year, but minutes from the university's council reveal that "Into's ability to raise finance had been affected by the credit crunch". A spokesman for the company said the project was due to get under way this summer.