La Trobe University's new five-year plan is based on achieving an ambitious 33% plus revenue increase to $1.2bn by 2030.
If VC Theo Farrell can haul in the cash, the result will be, “a bigger university, brilliant at what we do, and fit for the future.”
“Growing our financial resources will enable us to invest in world-class research capabilities, teaching innovations and facilities, enhanced student support, and further upgrades to infrastructure across our entire campus network,” is the pitch.
Specific goals include:
- Health Innovation: a $170m investment in clinical teaching to grow students in nursing, dentistry, oral and allied health by 40% with 5000 graduates a year from 2030.
- Regional growth: continuing growth in nursing and allied health teaching across six regional campuses including the nation’s largest dental/oral health clinical training facility, at Bendigo. All format regional student numbers will increase 60%, to 6600 FTE (with most signing up online).
- Online and short course expansion: total enrolments up 50% over five years and short course revenue increase seven-fold, to $20m.
- International students: “by 2030 we will pursue a much greater presence and engagement with India.” The post-COVID mantra of source country diversity appears to be rapidly supplanted by a focus in switching reliance from China to India at many institutions.
- Research income: “concentrating investment” in health-wellbeing, agriculture. Increase research income by 60%, to $165m in 2030.
- Student experience-employability: 2030 goals are: first in Victoria (on unspecified measure) for student satisfaction, all students “experience” work-integrated learning and “a truly student-first experience.”
- Philanthropy: by 2030 exceed the $200m target for 2027. “Aim to have among the highest of staff-giving rates in the higher education sector.”
- Life-long learning: a best-in-sector offer for LT U alumni and “significantly increase and widen the range of short-form credentialed learning experiences to maximise flexibility for professional learners.”
- AI: staff will routinely access and use artificial intelligence tools and AI “will be integrated in all courses.”
Speaking at the La Trobe Fairley Foundation Lecture in Shepparton last week, Chancellor John Brumby said the University had a big role to play in regional Victoria.
“If we want more people to live in the regions we can’t impose a … education penalty for doing so,” he said.
The University was investing in upgrades to all its regional campuses, while also changing the focus of campus development, he said.
“We are responding by turning the campus inside out. We see the future campus as a community space, not just for students, but a place that can welcome the community.”
Universities were poised to precipitate a new economic boom, as research and technology provided opportunities to add value to food production – with Mr Brumby predicting that food value would increase substantially as the global population grows, akin to a new form of gold rush.
Mr Brumby said lifting education participation was critical to realise Australia’s potential, but called on the Federal Government to boost pathways funding.
“The truth is that programs like pathways we are not funded well enough to do that. The federal government says they will fund us in the future but I think that remains to be seen,” he said.