If you're leaving a British school with 3 A* grades at A level and want to continue a higher level education, London Metropolitan University probably won't be the first institution on your list. As North London Poly it undoubtedly offered vocational training of some quality, and a few remnants of that excellence remain. But on the whole, it is a third-rate institution staffed by second-rate academics and sustained by BCC A level scholars and tens of millions a year of foreign fees. In fact, so important are foreign fees that LMU maintains offices in Beijing, Chennai, Delhi, Dhaka, Lagos and Lahore - and one suspects it's largely these offices that are responsible for the quite proper decision to strip LMU of its foreign admission powers. It turns out that places were awarded (and presumably fees collected from) students who never turned up for class, that places were awarded (and presumably fees collected from) students who turned up to class but didn't have valid student visas, and that few LMU foreign students of any variety could understand English sufficiently to undertake capably a higher education course taught in that language.
If LMU folds, one hopes the Sir John Cass Foundation finds a new parent institution. The 'Cass', like the London College of Printing, Central St Martins, Goldsmiths and a few other institutions, have been the cradle of much London talent, and the new spiv universities have done little but devalue their excellence. The demise of LMU may also mean a crisis for the Women's Library, the archives of the Fawcett Society, the TUC library and the Irish Studies collection, but one hope one will be able to bear these latter losses with fortitude.