Sydney University expects a $470 million loss due to coronavirus crisis

Sydney University expects a $470 million loss due to the COVID-19 crisis this year, thanks to a 17 per cent drop in international students, fewer than expected domestic students, and the extra cost of online teaching.

It showed a total of 9.9 per cent fewer students than the university had planned for in 2020, including 4.8 per cent fewer domestic students and 1.6 per cent fewer international students, "which has significant revenue implications," he said.Bloomberg "With these considerations in mind, we estimate the university’s COVID-19 related shortfall for this year will be $470m."

At UNSW, the vice-chancellor, deputy-vice-chancellor, provost and senior leadership team had taken a 20 per cent pay cut, the spokeswoman said.

JordsBaker Serves the University right. Far too long has it neglected domestic students. Chinese students abuse the system, show little respect for the institution, nor the environment for that matter. Why should we care?

JordsBaker Excellent we need to purge our universities of all Chinese students.

JordsBaker Good. Burn it to the ground. It's a disgrace in it's current form. Nothing but a larger version of the 4 room city 'college' visa factory.

JordsBaker A degree from syd uni used to be a differentiator. Surprised that they havent started s joint venture with Kellogs.

JordsBaker So in other years they have made $470 million profit, every year? Surely they would have deep pockets or plenty of assets then 👍

JordsBaker What a shame...

JordsBaker

JordsBaker Our Premier Universities need all the help , let’s not talk them down.

JordsBaker Are million dollar Vice Chancellors like Michael Spence and the other high flyers taking a pay cut ? highered

JordsBaker I guess there is a lesson to be learnt here

JordsBaker How many students worked as Daigou who hoarded Australia’s vital medical supplies and medicine? How many Chinese students infected the community ?

JordsBaker Look where chasing money got you, no more students from china get them from India and other free democracies

JordsBaker I do recall the terrible situation on 02/02/2020, too many poor Chinish international student been expelled out back to China from Australian airports, extremely nasty! Stop being wiggy , this isn't surprise !

JordsBaker I wonder what countries students the Uni's are reliant on for money ? RealMarkLatham pm_live rowandean

JordsBaker no sympathy

JordsBaker they should not be recruiting students from poor countries They r here to study NOT to work at 7/11 n study P/T n dropout when they get PR visa A way to game d system to get here

JordsBaker My heart is broken........actually its not at all.

JordsBaker They can afford it. Just look at the amount of CBD office space the Universities have !!! They are awash with cash, they even offered $7,500 to any international student who was willing to break Australian Quarantine provisions!!! The Universities are morally bankrupt.

JordsBaker Perhaps universities might re-calibrate their purpose through this as something other than using international students as money making machines. This crash has been coming for 20 years auspol

JordsBaker It’s all about the $$’s.

JordsBaker Poor little things suck it up like the rest of us

JordsBaker No sympathy. A renowned university, one of the world's best, that sold its soul to China for the lust of a fast buck. Its hallowed halls are reeking now, not with the joy of learning, but with the stench of insatiable greed.

JordsBaker For years Aust Universities have not cared about Aust students. The preference was to get as many foreign students as possible b/c of immediate $$$. You put all your eggs in one basket to the detriment of OZ students & their education. Now pay the price & stop complaining !!!!

JordsBaker All education institutions are a business these days. Stand in line behind all the other SME’s struggling.

Andrewyeahnah JordsBaker A uni with a focus on academic excellence instead of ludicrous alliances for the sake of money will have a rock solid foundation. Thank the virus for exposing the flaws in your game plan.

JordsBaker So what. Since when do universities exist to make money? How ever did we get here?

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