The University of Wolverhampton could implement a redundancy program amid the national funding crisis

The figures show universities are facing problems ahead of the new academic year, with many having to consider cutting courses, closing departments and putting thousands of jobs at risk.

Three leading institutions are believed to be in serious danger and ministers are being urged to introduce an emergency rescue package to avert “catastrophe” and stave off bankruptcies.

The University of Wolverhampton is said to have an income of £176m and says a voluntary redundancy program is being considered to deal with a shortfall.

Recent analyzes have found that dozens of universities will have to cut courses, close departments and put thousands of jobs at risk.