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South African universities stable in global financial crisis

A big increase in state funding is helping South African higher education institutions weather the global financial and economic storm.

Last month, Education Minister Naledi Pandor announced that tertiary funding had been increased to R19.3 billion (US$2.2 billion) for the 2009-10 year – a 27% rise on the previous year. “Government funding of the public higher education system has risen sharply in recent years, and is expected to continue to increase at rates above inflation,” Pandor said.

Included is R13.3 billion in subsidy funds which account for 43% of university income on average. It is the other two income streams that most worry universities: 29% that comes from tuition fees and 28% from ‘third stream’ income.
To read the full article by Karen MacGregor on University of World News Click Here!

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