Answered By: Wendy Fan Last Updated: Jun 03, 2019 Views: 735
As with all products and services, the cost of providing education over time changes based on movements in the local and global economies. An academic institution providing programmes that run over two or more years that operates in an open market (non-government controlled) can resolve this in one of two ways:
(1) The institution can make assumptions about probable changes to cost in the coming years based on average programme completion speeds, and build this into the total cost of tuition agreed at the start of a programme or (2) it can respond to the actual market conditions experienced.
Students on our programmes can spend up to seven years competing their programme, depending on their programme of study and the speed with which they progress through their programme. Because of this, we believe it is fairer to make changes to tuition on an annual basis. This means that only those students who study in the year that the change is experienced will be affected by price adjustments. Students who study faster are not exposed to a tuition rate that is based on cost increases for the years following their graduation.