UCT warns of looming losses
‘Small surpluses’ could be wiped out in three years amid unpaid fees
The University of Cape Town (UCT) has warned it could face a financial deficit in the next two to three years if monetary pressure continues. The university is owed R113m in fees for 2016. The institution will be able to enrol about 29,000 students in 2017, including 4,200 first-year students and 9,500 postgraduate students. "We have generated small surpluses," said UCT acting vice-chancellor Prof Francis Petersen. "This could, however, change in the next two to three years, all else being equal, but we remain hopeful that the Fees Commission will make recommendations that will ensure the sustainability of all higher education institutions." Set up to investigate the feasibility of free tertiary education after #FeesMustFall protests, the commission submitted a preliminary report to President Jacob Zuma in November 2016. Zuma set up the commission to determine a funding model for free education and how it can be maintained.