FEDERATION University Australia has announced its Future Fed program which aims to move the institution onto a strong financial footing following a drop in revenue by nearly eight million dollars.<\/p>\n
It is hoped these changes will allow the university to better meet regional Victoria’s needs.<\/p>\n
Future Fed will streamline the university’s operating model, removing duplication and red tape to allow for better student experience, teaching, technology and industry partnerships under co-operative education model.<\/p>\n
The program has been designed in response to declining student numbers across the sector following the COVID-19 pandemic.<\/p>\n
At Federation University, the number of international students attending the institution dropped by 49 per cent between 2019 and 2023.<\/p>\n
This led to a reduction of $79.1 million in revenue.<\/p>\n
Vice-Chancellor and president, Professor Duncan Bentley, said recent years have proved challenging for the higher education sector.<\/p>\n
“Since COVID-19, the environment for Australian universities has become more challenging and Federation is no different,” he said.<\/p>\n
“As a public university, we have an obligation to ensure we operate sustainably and are generating sufficient surpluses to reinvest in students, staff, and teaching and research.<\/p>\n
“Our transformation requires difficult decisions; we acknowledge the impact of these on our people and communities and we will be doing everything we can to support them through the process.”<\/p>\n
The Future Fed program aims for savings of $20 million per year to return to an operating surplus by 2026.<\/p>\n
Staff have been invited to express interest to take part in a voluntary redundancy process.<\/p>\n","protected":false},"excerpt":{"rendered":"
FEDERATION University Australia has announced its Future Fed program which aims to move the institution onto a strong financial footing following a drop in revenue by nearly eight million dollars. It is hoped these changes will allow the university to better meet regional Victoria’s needs. Future Fed will streamline the university’s operating model, removing duplication […]<\/p>\n