Latest news with #UniversityofSydney
The Age
11 hours ago
- Business
- The Age
Universities cannot shirk responsibility for international student welfare
On Friday, financial results for NSW's universities were tabled in parliament. They painted a damning picture for many of the state's institutions, but strong investment returns, philanthropy and international student revenue delivered the University of Sydney a $545 million surplus. The University of NSW also pocketed a surplus – of just over $200 million – this year, thanks to better-than-expected international and domestic student enrolments. International education was worth $51 billion to the Australian economy in 2024. At the University of Sydney, international students are 47 per cent of total enrolments. At UNSW, it is 41 per cent. International students are providing an invaluable source of income to our city's academic institutions, such that concerns have been raised that they are treated as 'cash cows': an easy solution for an otherwise financially precarious, if not just struggling, system. An auditor-general's report published last year found universities earned almost double from a foreign student compared with a domestic one. In 2023, the average revenue from a domestic full-time equivalent student was $22,996 compared with $41,117 for an international student, the report found. One only needs to think back to the sector's panic when the federal government contemplated placing a cap on their numbers to understand the integral role international students are playing to balance universities' budgets. But what do they receive in return? A qualification from a prestigious university, sure. The same student experience as their domestic peers? Hardly. As Christopher Harris reports in today's Sun-Herald, inner Sydney social services are concerned by the growing number of international students who move here with the promise of life in our beautiful city only to find themselves unable to afford housing.
Sydney Morning Herald
11 hours ago
- Business
- Sydney Morning Herald
Universities cannot shirk responsibility for international student welfare
On Friday, financial results for NSW's universities were tabled in parliament. They painted a damning picture for many of the state's institutions, but strong investment returns, philanthropy and international student revenue delivered the University of Sydney a $545 million surplus. The University of NSW also pocketed a surplus – of just over $200 million – this year, thanks to better-than-expected international and domestic student enrolments. International education was worth $51 billion to the Australian economy in 2024. At the University of Sydney, international students are 47 per cent of total enrolments. At UNSW, it is 41 per cent. International students are providing an invaluable source of income to our city's academic institutions, such that concerns have been raised that they are treated as 'cash cows': an easy solution for an otherwise financially precarious, if not just struggling, system. An auditor-general's report published last year found universities earned almost double from a foreign student compared with a domestic one. In 2023, the average revenue from a domestic full-time equivalent student was $22,996 compared with $41,117 for an international student, the report found. One only needs to think back to the sector's panic when the federal government contemplated placing a cap on their numbers to understand the integral role international students are playing to balance universities' budgets. But what do they receive in return? A qualification from a prestigious university, sure. The same student experience as their domestic peers? Hardly. As Christopher Harris reports in today's Sun-Herald, inner Sydney social services are concerned by the growing number of international students who move here with the promise of life in our beautiful city only to find themselves unable to afford housing.
Sydney Morning Herald
20 hours ago
- Business
- Sydney Morning Herald
Sydney Uni made half a billion dollars last year. Others are in deficit
The University of Sydney recorded a surplus of more than $500 million last year, while smaller institutions around the state lost money as they struggled to attract domestic students. Strong investment returns, philanthropy and international student revenue helped deliver Sydney University's $545 million surplus. International students now make up 47 per cent of all undergraduates, according to the university's annual report, tabled in state parliament on Friday. A narrow majority of vice chancellors running the state's universities were paid $1 million or more a year, annual reports show, including at Sydney University, where vice chancellor Mark Scott's remuneration increased by about $150,000 to $1.3 million. The pay bump brings him into line with what his predecessor Michael Spence was paid. Scott told staff that the university's core activities of teaching and research recorded a loss, and the 2024 underlying operating result was a deficit of $69 million. He described the overall result as 'strong' in an uncertain year. 'Philanthropic funding, which often comes with restrictions on how it can be spent, and an exceptional 15 per cent return on our investments drove this headline result,' he said. The University of NSW pocketed a surplus of just over $200 million this year, thanks to better-than-expected international and domestic student enrolments, which a spokeswoman said was driven by the prestige associated with its high scores in international league tables. 'UNSW has seen unprecedented demand over the past couple of years, driven by our rise to 19th in the 2024 and 2025 QS World University Rankings, a concerted post-pandemic international recruitment rebuild strategy, and recent policy shifts in the UK and Canada,' a spokeswoman said. 'The global top 20 position reflects our strong academic offerings and growing reputation.'
The Age
2 days ago
- Business
- The Age
Sydney Uni made half a billion dollars last year. Others are in debt
The University of Sydney recorded a surplus of more than $500 million last year while smaller institutions around the state lost money as they struggled to attract domestic students. Strong investment returns, philanthropy and international student revenue helped deliver Sydney University's $545 million surplus. International students now make up 47 per cent of all undergraduates, the report said. A narrow majority of vice chancellors running the state's universities were paid $1 million or more a year, annual reports show, including at Sydney University, where vice chancellor Mark Scott's remuneration increased by about $150,000 to $1.3 million. The pay bump brings him into line with what his predecessor Michael Spence was paid. Scott told staff that the university's core activities of teaching and research recorded a loss, and the 2024 underlying operating result was a deficit of $69 million. He described the overall result as 'strong' in an uncertain year. 'Philanthropic funding, which often comes with restrictions on how it can be spent, and an exceptional 15 per cent return on our investments drove this headline result,' he said. The University of NSW pocketed a surplus of just over $200 million this year, thanks to better-than-expected international and domestic student enrolments, which a spokeswoman said was driven by the prestige associated with its high scores in international league tables. 'UNSW has seen unprecedented demand over the past couple of years, driven by our rise to 19th in the 2024 and 2025 QS World University Rankings, a concerted post-pandemic international recruitment re-build strategy, and recent policy shifts in the UK and Canada,' a spokeswoman said. 'The global top 20 position reflects our strong academic offerings and growing reputation.'
Sydney Morning Herald
2 days ago
- Business
- Sydney Morning Herald
Sydney Uni made half a billion dollars last year. Others are in debt
The University of Sydney recorded a surplus of more than $500 million last year while smaller institutions around the state lost money as they struggled to attract domestic students. Strong investment returns, philanthropy and international student revenue helped deliver Sydney University's $545 million surplus. International students now make up 47 per cent of all undergraduates, the report said. A narrow majority of vice chancellors running the state's universities were paid $1 million or more a year, annual reports show, including at Sydney University, where vice chancellor Mark Scott's remuneration increased by about $150,000 to $1.3 million. The pay bump brings him into line with what his predecessor Michael Spence was paid. Scott told staff that the university's core activities of teaching and research recorded a loss, and the 2024 underlying operating result was a deficit of $69 million. He described the overall result as 'strong' in an uncertain year. 'Philanthropic funding, which often comes with restrictions on how it can be spent, and an exceptional 15 per cent return on our investments drove this headline result,' he said. The University of NSW pocketed a surplus of just over $200 million this year, thanks to better-than-expected international and domestic student enrolments, which a spokeswoman said was driven by the prestige associated with its high scores in international league tables. 'UNSW has seen unprecedented demand over the past couple of years, driven by our rise to 19th in the 2024 and 2025 QS World University Rankings, a concerted post-pandemic international recruitment re-build strategy, and recent policy shifts in the UK and Canada,' a spokeswoman said. 'The global top 20 position reflects our strong academic offerings and growing reputation.'
