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Discussion Starter · #1 ·
http://www.smh.com.au/news/national/85000-singapore-sling-for-students/2007/06/02/1180205571199.html

THE University of NSW will pay up to 148 students stranded by the closure of its Singapore campus as much as $85,000 each to study in Sydney.

Compensation, redundancies and lost revenue could mean the failed venture's costs could amount to more than $40 million.

The university will pay students for travel, visa and accommodation costs in Sydney for the life of their degree. Another 126 students are eligible for return air fares to Sydney and 12 months' accommodation in compensation.

UNSW vice-chancellor Fred Hilmer has admitted that $17.5 million had been spent on the Tanglin campus before it opened this year.

The shortfall in enrolments for the first semester had cost a projected $15 million in revenue because only 148 of the anticipated 300 students signed up. UNSW Asia had leased a building from the Singapore Government until the end of 2009, when its Changi campus was supposed to open.

The university has flown in "teams of people" to Singapore to help students with visa applications. It may face penalties for not seeing through the deal.

The NSW Auditor-General's Report To Parliament 2005 said the Singapore Economic Development Board would provide funding, capped at $S100 million ($78 million), for start-up costs over the first 10 years.

The board's managing director, Ko Kheng Hwa, said the terms that were typically offered "normally comprise tax incentives, loans or grants, which are recallable if pre-agreed milestones and outcomes are not met".

As well, 64 local academic and general staff employed by UNSW Asia are yet to agree on redundancy packages. Another 41 staff from Australia are unsure about their future.

An Australian academic, who did not want to be named, said his wife had given up a good job to move to Singapore and he had taken a two-year lease on a house.

"There are many senior professors who have moved here, who have given up senior positions at ANU and other universities, sold family houses, given up retirement plans, to move here with young children," he said.

He said the damage to UNSW's reputation, and those of Australian universities in general, was enormous.

"UNSW has killed off any hope of ever marketing itself as an international university, certainly in our lifetime.

"It has been a monumental mismanagement."

Another academic believes that only between four and six of the Australian teaching staff out of a faculty of 48 will be offered jobs at the Sydney campus because of recent redundancies and a freeze on casual staff.

"There are a group of very distressed people who are desperate for information from the university and it's not coming," he said.

In announcing the closure, UNSW promised all students a place in the same course in Sydney. Of the 148 students who enrolled, 100 Singapore residents will be offered $17,340 a year for the duration of their degree. The other 48 will be offered $9460 a year. This will total almost $2.2 million a year.

President of the UNSW's student representative council Jesse Young said: "It's a disappointing waste of taxpayers' money that could have been spent on the Sydney campus."

A UNSW representative said 13 students had accepted a place at UNSW Sydney.

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There comes a moment where i see how desperate universities are in trying to get more cash by doing high risk ventures like this. This only comes when universities are fund-strapped and are in serious need for more money to keep this important institution in operation.

It is a shame really. UNSW is one of the most respected uni in this country yet it has to take risks like this.


Another academic believes that only between four and six of the Australian teaching staff out of a faculty of 48 will be offered jobs at the Sydney campus because of recent redundancies and a freeze on casual staff.

Not only this, but uni announced that it will make semester shorter from 14 weeks to 12 weeks. It is good for those who thinks that the most important equipment is a photocopy machine which mass prints their graduation certificate. But for other students who are seeking to learn and wish that their paper will be worth something by the time they graduate, it gets pretty dismal.

Thanks to UNSW, i get scholarship study in one of the most respected uni in Europe. It beats studying UNSW by a long shot.
 

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Have you actually looked at the budget of the University of NSW? They are anything but cash-strapped.

Do you get your sources from the "little white book of lies"?

They have a long-term investment portfolio approaching $300 million dollars

Stop making up facts.
 

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WTF?? Net operating is not a component of the balance sheet. I said LONG TERM INVESTMENT HOLDINGS. NOT ITS ANNUAL CASH FLOW.

Yeah so you may know your university but you have **** all understanding of its financial position.

Go to page 16 - and look at its Net Asset Position = $1.2 billion dollars. (With around $200mil - $300 million in non-current assets)

The reason I know this? My company recently commissioned a report on the Long-Term (Investment) holdings of Australia Universities.
 

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Discussion Starter · #5 ·
Haha.

So you're saying that thanks to $1.2 billion in 'net asset' that they are forcing academics into redundancy payments and shortening semester times from 14 weeks to 12? And thanks to those $1.2 billion, most of my third level economics/arts courses are cancelled and have to resort taking 2nd level?

Look what they did to tutorials. Made 20 the new minimum tutorial to student ratio instead of 10 several years ago. Then look at courses which are cancelled.

Sorry, but those $1.2 billion means nothing to students who can't see improvement in education.
 

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Yawn Miliux - become a little more subjective rather than preaching the "Left's view of the Australian Tertiary System"

And no I did not specially argue the relevance of the $1.2 million figure. I used that to guide you through to the Long Term Investment Holdings figure of $300 million - which is used for a number of projects within campus.
 

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Discussion Starter · #7 ·
Yawn Miliux - become a little more subjective rather than preaching the "Left's view of the Australian Tertiary System"

And no I did not specially argue the relevance of the $1.2 million figure.
I used that to guide you through to the Long Term Investment Holdings figure of $300 million - which is used for a number of projects within campus.
So what's the point in mentioning that in this thread? You seem to be in love of dragging pointless statements like these from your ass no matter how irrelevant it is to original post.
 

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Discussion Starter · #9 ·
^ because you have a tendency of posting any thread that re-emphasises your political obsession.
Again, you post another pointless statement which has nothing to do with the original post. Want to do it the third time?

I don't know how you see the connection between MY experience in how tertiary education is going down the drain and some kind of political obsession?
 
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