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Written by Mallika Desai
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Page 1 of 2 Education for us is like the air that we breathe in every day; a must, as without it we can't survive.
In today’s world, to survive without a high-quality educational degree is terribly difficult. Yes, you hear those success stories of the heroes who rose from the ground without having any educational background and succeeded beyond their wildest dreams. But those are anomalies.
The average person must possess a firm educational background, in order to move on in life.
In the midst of this need, imagine having finalized your
university-level admission in an internationally recognized institution
that has opened a new branch in your locality. It has offered you a
great opportunity to learn at a high-quality educational facility, and
you are so excited to begin this new adventure in your life.
The next
day, you pick up the newspaper and read “UNSW to close Singapore
campus.”
Four months after its opening, the University of New South Wales Asia
shuts down. An investment of about 22 million Singapore Dollars goes
down the drain. The 150 students who enrolled for the year 2007 are
left with several unanswered questions, and no real solution to their
predicament.
UNSW Asia was expected to grow to a size of 15,000 students in its
years to follow. However, after only the first semester, when the target
of 300 students was not met, the institution decided to shut down.
Does
that make any sense? After such a heavy investment and partnerships
with the Economic Development Board (EDB) of Singapore? Can UNSW Sydney
afford the costs incurred upon beginning this venture?
When a new business starts, it is obvious that it will take time to pick
up. In the same manner, for an educational facility, it will take time
for people to recognize its potential and its advantages. So why did
UNSW Asia not even bother to try for the next 2-3 years and see whether
the business picked up?
Education has after all become a big business for key players in
society. UNSW Asia closed down as the financial risk was too great for
the institution to carry on. Professor Hilmer, from the Singapore
campus, said the university had needed a partner to come up with more
than S$50 million for the campus.
"When enrollments dropped off, we
realized the original model wouldn't work and that's what really
triggered the whole re-think."
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