The financial impact of VSU on students in Australia
Impact of VSU on prices for campus services
It is estimated (very roughly) that sector wide prices across the board for campus services inclusive of new charges from fee based benefits programmes increased by at least 20 per cent between 2005 and 2007 – which is at least 13 per cent in real terms.
The hours of opening of many campus services outlets were reduced following introduction of VSU so the price increases did not necessarily translate directly into a commensurate increase in gross sales receipts.
This does not mean the total cost to students of campus services increased as a result of VSU because after VSU students were no longer paying compulsory amenities and services fees.
Whilst it is difficult to make good estimates without the benefit of audited accounts from campus services organisations nationally for the 2007 year (these accounts are not yet available) the very rough view is that the price increases and new or increased fee based benefits programmes contributed approximately an additional $25 million to the bottom line for the sector.
That is, the reduced income from amenities and services fees in 2007 (compared to what it would have been had VSU not been introduced) has been made up to the extent of about $25 million from increased prices and from new income from fee based benefits programmes.
Impact of concurrent HECS increases
Over the same period that VSU was being ushered in there were also changes happening to the HECS system. These two different Coalition Government higher education policy initiatives each had a financial impact on students.
The purpose of this section is to look at the financial impact on undergraduate students that was caused by the changes to the HECS system which took effect for students who first enrolled in 2005 or subsequently.
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