Yesterday the Australian Minister for Education, Simon Birmingham, announced cuts to higher education funding and increases in student fees. In addition, the income threshold for repayment of student debt will be reduced. Funding for teaching will be reduced in 2019 by $380 million relative to the current funding formula.
Universities are huge institutions requiring significant funding to maintain their operations. Yet they face hefty competition from global and increasingly accessible, technologies. Instead of a future of under-funded universities, I see their devolution altogether – at least in terms of education, if not of research.
The change will not be quick. A higher degree (bachelors or above) is now the entry point for the regulated professions. These professions, including law, use course accreditation as a means of guaranteeing standards of graduate entry. For unregulated professions (such as marketing, or banking) the market determines the entry requirement, and that is generally a bachelors degree.
But things are changing, and universities’ role can no longer be taken for granted.