{"id":7101,"date":"2021-03-26T16:44:13","date_gmt":"2021-03-26T16:44:13","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/?p=7101"},"modified":"2021-03-26T16:00:26","modified_gmt":"2021-03-26T16:00:26","slug":"universities-need-to-infuse-entrepreneurial-thinking-to-solve-funding-crisis","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/universities-need-to-infuse-entrepreneurial-thinking-to-solve-funding-crisis","title":{"rendered":"Universities need to infuse entrepreneurial thinking to solve funding crisis"},"content":{"rendered":"

Africa-Press<\/a> – South-Africa<\/a>. <\/strong><\/span>While student debt to universities has ballooned to approximately R14 billion, calls for more collaborative efforts have become louder.<\/p>\n

Chief Executive Officer of student crowdfunding platform Feenix, Leana de Beer, says that no individual or stakeholder can solve the university funding crisis alone.<\/p>\n

\u201cNow is the time for everyone to work together,\u201d says De Beer.<\/p>\n

The past three weeks have seen a spate in student protests across the country over historical debt and funding. These protests have resulted in disruptions to academic teaching at universities.<\/p>\n

The resulting economic impact of the national lockdown has put severe strain on the government\u2019s subsidy allocations, National Students Financial Aid Scheme\u2019s (NSFAS) funding and university operating budgets, and more importantly, the pockets of hopeful university students wishing to study this year.<\/p>\n

De Beer said; \u201cQualifying students not being able to access university education is a shared frustration of both students and the higher education sector stakeholders. The only way we will be able to create a more inclusive, equitable and financially sustainable system is through collaboration between both the private and public sectors.\u201d<\/p>\n

She said a collaborative approach is needed in solving the funding crisis. To which Professor Anesh Singh, Executive Director of the University of KwaZulu-Natal Foundation, agrees.<\/p>\n

\u201cFunding of higher education is a joint responsibility of the learner, the institution of higher learning, the educational system, business and society at large. Unfortunately, no single stakeholder is going to have a one-size-fits-all solution. The only way that we will be able to address the funding challenge is through Private-Public-Partnerships (PPPs), which as universities we are constantly working towards.\u201d<\/p>\n

David Marupen, Deputy Director of the Resource Mobilisation Centre at the University of Limpopo, explained that the increased demands on universities have meant that funding from traditional sources, like government subsidies and tuition fee income, is not enough to cover everything.<\/p>\n

\u201cThis situation over the last year has been compounded with universities having to also redirect funds to set up multimodal teaching platforms to ensure that students are able to continue their studies. The added pressures require universities to create a third stream of income through collaborations with alternative funders and the private sector.\u201d<\/p>\n

He said universities need to infuse entrepreneurial thinking into everything that they do \u2013 from commercialising assets to promoting enterprise development, partnerships with corporates, as well as including this into the teaching and learning programmes offered to students.<\/p>\n

\u201cThere is tremendous value in doing this, as it allows us to look beyond traditional funding sources to find new income streams. For students, it means equipping them with the necessary skills to take charge of their own finances and future careers,\u201d said Marupen.<\/p>\n

The majority of tertiary institutions have understood the urgency of doing this.<\/p>\n

In 2015, Rhodes University launched its VC\u2019s Guarantee Scheme, which ensures that no academically deserving student should be denied the opportunity to continue their studies, provided that they continue to perform satisfactorily throughout their studies.<\/p>\n

Rhodes University\u2019s Isivivane fundraising campaign last year raised approximately R10 million to help fund students \u2013 including some of those on its VC’s Guarantee Scheme.<\/p>\n

Related Video:<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. While student debt to universities has ballooned to approximately R14 billion, calls for more collaborative efforts have become louder. Chief Executive Officer of student crowdfunding platform Feenix, Leana de Beer, says that no individual or stakeholder can solve the university funding crisis alone. \u201cNow is the time for everyone to work together,\u201d […]<\/p>\n","protected":false},"author":84,"featured_media":7100,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,3,8],"tags":[274,315,275],"class_list":["post-7101","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-community","category-homepage-english","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nUniversities need to infuse entrepreneurial thinking to solve funding crisis - South Africa<\/title>\n<meta name=\"description\" content=\"While student debt to universities has ballooned to approximately R14 billion, calls for more collaborative efforts have ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/universities-need-to-infuse-entrepreneurial-thinking-to-solve-funding-crisis\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Universities need to infuse entrepreneurial thinking to solve funding crisis\" \/>\n<meta property=\"og:description\" content=\"While student debt to universities has ballooned to approximately R14 billion, calls for more collaborative efforts have ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/universities-need-to-infuse-entrepreneurial-thinking-to-solve-funding-crisis\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-26T16:44:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2021\/03\/img-605e04fd4724c.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"404\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/universities-need-to-infuse-entrepreneurial-thinking-to-solve-funding-crisis#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/universities-need-to-infuse-entrepreneurial-thinking-to-solve-funding-crisis\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Universities need to infuse entrepreneurial thinking to solve funding crisis\",\"datePublished\":\"2021-03-26T16:44:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/universities-need-to-infuse-entrepreneurial-thinking-to-solve-funding-crisis\"},\"wordCount\":530,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/universities-need-to-infuse-entrepreneurial-thinking-to-solve-funding-crisis#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2021\/03\/img-605e04fd4724c.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"community\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/universities-need-to-infuse-entrepreneurial-thinking-to-solve-funding-crisis#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/universities-need-to-infuse-entrepreneurial-thinking-to-solve-funding-crisis\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/universities-need-to-infuse-entrepreneurial-thinking-to-solve-funding-crisis\",\"name\":\"Universities need to infuse entrepreneurial thinking to solve funding crisis - 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