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The Guardian - AU
The Guardian - AU
National
Caitlin Cassidy

Australian university sector makes record $5.3bn surplus while cutting costs for Covid

Covid-19 University of Sydney Alison Barnes Department of Education University of Melbourne NTEU Pandemic
The main quadrangle building of the University of Sydney, Australia
The University of Sydney recorded a $1bn surplus during Covid but says the strong result, which the tertiary education union described as ‘particularly galling’, was a one-off. Photograph: DoraDalton/Getty Images/iStockphoto

Australian universities made a record $5.3bn surplus during the Covid pandemic at the same time as costs and employee benefits were cut, new data released on Thursday has found.

The finance data, released by the federal Department of Education, revealed $38.9bn in revenue across the tertiary education sector in 2021, with all but three universities reporting a net surplus.

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