University revenue trillion
At the beginning of the 2024-2025 academic year, most universities will publish the "Three Public" reports as required by the Ministry of Education and Training, including financial figures for 2023.
Among the announced schools, there are 9 universities with revenue of trillions or more, including 6 public universities and 3 private schools.
The 6 public schools with revenue of thousands of billions are Hanoi University of Science and Technology, Ho Chi Minh City University of Economics, National Economics University, Ton Duc Thang University, Ho Chi Minh City University of Industry, and Ho Chi Minh City University of Technology - National University.
The three private schools with revenues of over a trillion VND are FPT University, Nguyen Tat Thanh University and Ho Chi Minh City University of Technology (Hutech).
Compared to the time of publication last year, the University of Industry and Ho Chi Minh City University of Technology are two new names. Can Tho University is out of the list, with revenue decreasing from nearly VND 1,120 billion to more than VND 950 billion.
In terms of total revenue, FPT University achieved the highest level with nearly 2,920 billion VND. Next was Hanoi University of Science and Technology with nearly 2,140 billion VND.
Most of the revenue comes from tuition fees.
According to the announcement of universities, revenue comes from 4 sources: Budget; Tuition and fees; Scientific research and technology transfer; Other sources such as sponsorship from businesses, philanthropists, publishers, affiliated businesses...
At Nguyen Tat Thanh University and Ho Chi Minh City University of Technology, revenue from tuition fees accounts for more than 98%.
Meanwhile, on the other hand, some schools recorded an increase in revenue from other sources. For example, Hanoi University of Science and Technology, revenue from scientific research and other sources in 2023 was VND506 billion, a sharp increase compared to VND97.4 billion in 2022.
Last school year, the Government decided to increase the ceiling on university tuition fees after 3 years of no increase due to the severe impact of the COVID-19 pandemic. Accordingly, for non-autonomous public universities, the highest tuition fees for the 2023-2024 school year are for the Medical and Pharmaceutical group (Medicine, Dentistry, Traditional Medicine) at 2.45 million VND/month/student. Other health majors are 1.85 million VND/month/student. The remaining majors range from 1.2 million VND to 1.45 million VND/month/student. For level 1 autonomous schools (ensuring regular expenses), tuition fees are collected no more than 2 times the above level, and level 2 autonomy is no more than 2.5 times.
This school year, the tuition fee increase roadmap of schools continues. The increase in some majors and programs can reach up to tens of millions of VND/school year. Many schools plan to increase by 8-15% each year.
According to Dr. Le Viet Khuyen - Vice President of the Association of Vietnamese Universities and Colleges, when the revenue from State support does not meet the training costs, universities will "call" to seek financial resources from other sources, for example: Calling for donations from philanthropists, international investment projects, research activities and production labor...
However, in Vietnam, diversifying these sources of income has not been really effective. Universities' revenue still mainly depends on tuition fees.
"If increasing tuition fees is a way to generate revenue, it will make it impossible for many candidates to get into university. Universities must calculate tuition fees so that they do not exceed the average income of the people," said Mr. Khuyen.
The Vice President of the Association of Vietnamese Universities and Colleges said that the issue that universities must pay special attention to is the need to optimize costs. When costs are calculated, used most effectively, and unnecessary parts are cut, revenue will be more abundant.
"Schools must create an effective operating mechanism, have a specific and appropriate arrangement plan, and eliminate unnecessary expenses. It is necessary to calculate a more reasonable tuition fee for students" - Mr. Khuyen proposed a solution.
