London Met Board Resigns To Save University

Following an almighty balls-up in keeping tabs on student numbers at London Metropolitan University - which netted them £36m in extra payments - all members of the board who were present during what HEFCE's calling the 'worst case of mismanagement by a university that this country has ever seen' have resigned.

The university didn't check up on drop-out rates, so ended up claiming for students who never actually sat their end-of-year exams. HEFCE, the higher ed funding body, was so unimpressed with the (accidental) fraud that it strongly 'suggested' everybody quit before it pulled the plug on funding altogether. In the face of such condemnation, and protests from staff and students at the prospect of closure, the board has fallen on their swords to protect the institution. The news should provide some Christmas cheer to all those wondering whether there'd be a university to come back to next term.