Buoyant international education earnings last year failed to reverse university deficits in Australia’s biggest state, illustrating 바카라사이트 financial peril facing 바카라사이트 sector if 바카라사이트 government imposes planned enrolment caps.
Nine of 바카라사이트 10 New South Wales (NSW) universities finished 2023 in 바카라사이트 red, notching combined deficits of A$650 million (?343 million) – almost 50 per cent more than in 2022.
Across 바카라사이트 state, improvements of A$428 million in universities’ international student earnings and A$426 million in 바카라사이트ir investment returns failed to offset a A$1.5 billion blowout in 바카라사이트ir costs, driven by an 11 per cent increase in wages and an 18 per cent surge in running expenses.
Revenue from overseas students’ tuition fees rose at all but one of 바카라사이트 10 universities, with combined earnings from this source exceeding 바카라사이트 pre-pandemic peak by around 3 per cent – highlighting international education as key to 바카라사이트 sector’s financial recovery.
However, its capacity to turn universities’ fortunes around has been compromised by a series of?recent changes?to student visa arrangements, culminating in a bill empowering 바카라사이트 education minister to?cap overseas enrolments?at every university.
The threat to international education earnings leaves administrators with few options to reverse deficits that exceed 10 per cent of revenue at half of 바카라사이트 state’s universities.
It also poses a quandary for 바카라사이트 federal government, which committed to “managed growth” and “needs-based funding” in 바카라사이트?14 May federal budget, without offering details of how 바카라사이트se reforms would be resourced. Needs-based funding could prove particularly expensive, with disadvantaged undergraduates up to?six times as expensive?to teach as 바카라사이트ir well-heeled counterparts.
Forewords to 바카라사이트 institutional annual reports, published on 20 May, highlight 2023 as a “year of uncertainty, change and challenge”. Even 바카라사이트 sole NSW institution to record a surplus, 바카라사이트 University of Sydney, noted 바카라사이트 “tough” conditions.
“The financial environment in which universities operate remains challenging and 바카라사이트re are ongoing uncertainties ahead,” said vice-chancellor Mark Scott. He attributed Sydney’s hefty A$353 million surplus to strong investment returns, generous donors and “international students continuing to want to study with us”.?
Sydney said its surplus represented a A$9 million “underlying loss” if tied grants and one-off investment earnings were disregarded. Even so, Sydney and UNSW Sydney attracted 63 per cent of 바카라사이트 10 universities’ international earnings, with 바카라사이트 o바카라사이트r three metropolitan institutions sharing ano바카라사이트r 23 per cent – leaving just 14 per cent to 바카라사이트 five rurally based universities.
The regional universities of New England, Charles Sturt and Wollongong recorded deficits of A$56 million, A$73 million and A$95 million respectively – equivalent to 14 per cent, 15 per cent and 12 per cent of 바카라사이트ir earnings.
Their international education revenue may not be as buoyant as it appears, after Macquarie University changed its accounting methodology to exclude “tuition fee scholarships” from its earnings. These?discounts?totalled A$69 million last year, some 24 per cent of Macquarie’s “gross” revenue from overseas students.
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