Australian universities transform into greedy corporations

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Over the past 20 years, Australian universities have evolved into revenue-driven corporations.

To summarise, the federal government and Australian universities created a framework to attract huge volumes of full-fee-paying overseas students by:

  • The Australian government provided generous student visa work rights and the opportunity for permanent residency.
  • Australian higher education institutions lowered admission and teaching standards.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.