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Thursday, September 11, 2014

Coping with deregulation

How will deregulation of the Australian education industry affect universities? International students? Education Agents?

There has been much discussion about the issue of deregulating the Australian education industry, ranging from support over universities' increased autonomy in deciding on curriculum and cost to students, to concerns that higher education will become even more inaccessible for students, as government funding continues to drop.



Universities may raise fees depending on the courses which they will offer and their popularity with students - hence courses with exorbitant pricing will find few students, if any, willing to shell out for them. Undergraduate studies in Australia will remain reasonably priced, but universities looking to control costs further can seek other ways to do it, such as reigning in administrative costs.

For education agents, universities can up the ratio of international intakes to stabilise school operations as local students may seek to pursue studies abroad with deregulation bringing local education expenses up to par with global standards - however it is worth noting that Australia offers income-contingent student loans, so local intakes may remain steady.

Nevertheless, should current trends continue, the number of international students would grow, and this means increased administrative efforts to bring international students into Australia and maintaining a positive experience for the student.

Australia remains a popular higher education destination because of its world class education standards, and also because of its attractive post-study work rights. Measures such as scaling back on administrative expenses are a way to improve operations, deregulation or no.

NexPay offers favourable exchange rates for students and a free reconciliation service for education providers and education agents in Australia. This helps keeps administrative effort minimal, as NexPay guarantees all payment receipts are in the full amount (no more short payments!).

Visit www.nexpay.com.au for more information on how we can help you and your students save now!

Source: The Australian

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