World

New Zealand Bails Out Financially Strapped Universities

New Zealand proposed a multi-million-dollar rescue for cash-strapped universities on Tuesday, in the hope of preventing employment and course cuts at institutions battling to recover from the pandemic.

More tuition subsidies will cost NZ$128 million (US$79 million) according to the finance and education departments.

Following the Covid-19 border closures, some of New Zealand’s leading universities are grappling with low domestic enrollment numbers and a slower-than-expected return of overseas students.

Otago University in Dunedin and Victoria University of Wellington in Wellington both recently indicated that hundreds of jobs could be jeopardized and courses eliminated owing to funding problems.

Education Minister Jan Tinetti stated that the one-time boost will benefit New Zealand’s degree providers over the next two years.

“This funding will help maintain the quality and breadth of higher education offerings and research capability in our tertiary institutions”, Tinetti continued.

“This is vital for our students, our tertiary workforce, our broader research system, and for economic and social wellbeing in New Zealand”, Tinetti added.

She noted that the funding bump will not solve all of the problems that universities are facing, but it should make a difference.

The Tertiary Education Union’s Julie Douglas welcomed the government’s move as ‘better late than never’ and was cautiously optimistic that the extra money would be enough to keep some universities from having to make cuts.

“However, because it is not targeted at the institutions that are most in need, we are concerned the money may be spread too thin”, she said.

Also read: United States Repeatedly Calls On Pakistan To Disband All Terrorist Organizations

Spriha Rai

Recent Posts

Sanskriti Diwas Marks 98th Birth Anniversary Of Kashiraj Dr Vibhuti Narayan Singh

Program coordinator Chakravarti Vijay Navad announced that 11 prominent individuals received the Kashiraj Dr. Vibhuti…

24 mins ago

Mallikarjun Kharge Slams ‘Batenge Toh Katenge’ Slogan During Jharkhand Campaign

Kharge emphasized that the BJP leaders promote divisive rhetoric as part of their agenda. He…

2 hours ago

Police Arrest Two In Fake Marriage Certificate Racket In Name Of Arya Samaj

DCP Nagar Abhishek Bharti revealed that five couples, including Shivani and Shrikant Yadav, recently filed…

2 hours ago

India And Nigeria Strengthen Counter-Terrorism Cooperation In Second Strategic Dialogue

Doval and Ribadu held detailed talks on challenges linked to terrorism and radicalization, including those…

3 hours ago

Ola Electric’s Share Hits All-Time Low Of Rs 74 Ahead Of Q2 Results

Analysts predict that the stock could drop closer to the Rs 70 mark. Ola Electric…

4 hours ago

US Election: Voting Begins With First Ballots Cast In New Hampshire

This election is one of the most divisive in US history. Harris and Trump have…

4 hours ago