Cost of living pressures have led more people to seek work rather than pay to study, leaving Queensland universities short of revenue.
In a report tabled in parliament on Monday, the Queensland Audit Office said most universities in the state continued to record a loss in 2023 even as international students started to return.
Queensland’s universities are continuing to lose money.Credit: AFR
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“Their costs are escalating due to rising inflation, increased wages, and expenses associated with the return of international students and the reopening of borders,” the report found.
“In addition, domestic enrolments continue to decline, as students defer or reduce studies to work to manage their costs of living. Some universities are impacted by the need to fix wage underpayments.”
The report also warned TAFE Queensland’s financial sustainability continued to decline, and “may affect its ability to provide high-quality vocational education and training”.
However, all eight grammar schools in Queensland reported a positive operating result and a stable financial position.
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