Forty-four private colleges and universities nationwide incurred a combined loss of NT$2.97 billion (US$98.93 million) in the 2020-2021 academic year, due to low enrollment numbers caused by a declining birthrate, the Ministry of Education said in a report.
It was the fifth consecutive year of loss for many of the schools. In 2016, 24 institutions reported a combined loss of NT$1.05 billion. The number of loss-making schools rose to 35 in 2017, before sliding to 32 in 2018. The figure bounced back to 40 in 2019.
The report also showed the institutions’ cumulative balances for the academic years from 2016 to 2020.
Photo: Rachel Lin, Taipei Times
The Culinary Institute of Taiwan (CIT) had the highest positive balance for the period at NT$97 million, followed by Tungnan University at NT$85 million, TransWorld University at NT$83 million, Kun Shan University at NT$70 million, and St Mary’s Junior College of Medicine, Nursing and Management with NT$4.49 million.
CIT permanently closed its doors following the 2020-2021 academic year.
In the most recent academic year, TransWorld reported a loss of NT$85 million, Kunshan and Tungnan reported losses of NT$32 million each, and St Mary’s lost NT$9.67 million.
The four institutions risk facing deficits if they incur losses in the current academic year and spend their accumulated surpluses.
The ministry urged private schools to reduce the scope of their operations and focus on sustainability.
Boards of directors at private schools also have a responsibility to raise funds, it said.
The ministry said it would continue to offer rewards and incentives for outstanding institutions, supervise their finances, screen financially at-risk institutions, and provide guidance for schools preparing to exit the market.
National Federation of Teachers Unions president Hou Chun-liang (侯俊良) on Saturday said that the negative trend in private schools’ balance sheets over the past few years indicates a financial imbalance.
The ministry should help such institutions to prevent their losses increasing, Hou said.
He said schools with the heaviest losses could consider exiting the market so that their land and resources could be put to other use.
Taiwan Higher Education Union organization department director Lin Po-yi (林柏儀) said that government funds should be diverted to help struggling private schools improve, rather than forcing teachers into retirement and students to end their studies.
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