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

Department of Education figures reveal all but three universities reported a surplus, including $1bn for the University of Sydney

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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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