31. Future Local University Funding.

There are many things happen due to system design failure. The reward structure is unclear and most of the time, government policy is very forgiving for public universities. Thus, I propose the following.

1.      A fraction of the university funding will be coming from their own student future tax revenue. All students graduated with a funded degree/undergraduate program from a public university will pay taxes to their university for 10-20 years. I strongly believe Master and PhD by research program, the fee should be minimal unless a lot of research facilities are required.

2.      The annual tax return from these students will be channeled 100% to the local university.

3.      The university staff salary/pension will be paid from the fund received.

4.      University are free to set their quota system and course offering

5.      The fraction of university funding from government will be slowly reduced and the funding from student tax return will be gradually increased up to 30-50% of the university revenue.

6.      If there is insufficient fund, the university will have to reduce their staff salary and benefit.

Whatever big financial decision made by the university management must be recorded (who suggested this, who approved it). Later on, anything wrong there will be penalty/reward on the pension side. Then, the university will make a wiser economic decision rather than a political one.