Coronavirus – Universities’ losses could reach AU$16 billion
The peak body also has revised its estimates for the rest of the year, suggesting universities could lose AU$3.1 billion to AU$4.8 billion dollars in 2020, up from AU$3 billion to AU$4.6 billion. Universities Australia Chief Executive Catriona Jackson said the COVID-19 pandemic would affect university finances for several years.
It comes after Australian National University announced a AU$225 million shortfall due to reduced revenue and unplanned expenses due to the pandemic. The University of Canberra revealed it would have a AU$33 million deficit in 2020, rising to a AU$60 million deficit next year.
Full report on The Canberra Times site