University of Oulu, 2016

New university funding model approved

On Thursday, 17 January, the Finnish Government approved new models for the funding of universities and universities of applied sciences. The new models are valid for 2021–2024. The funding models dictate how state funding will be distributed between higher education institutes each year.

Confirmation of the funding model was preceded by circulation for comment, where the University of Oulu issued a fairly critical comment. The university criticised the model’s weighting of results from previous years, in particular. The circulation for comment had some influence on the final model, which now includes a transitional provision, according to which the funding of any single university cannot decrease by over three per cent per year over the first two years. In coefficients that account for differences between fields of study, the fields of biology, geography and environmental science were transferred to the higher cost coefficient group based on the comments. Similarly, the coefficient of funding received for persons completing their second degree was changed from the proposed 0.5 to 0.7.

Now, the University of Oulu is preparing to operate under the new model and improve its results in the areas weighted by the model. There is a need for more new digital course offerings and opportunities for continuous learning, and education as a whole will grow more important. Student feedback, degree completion times and student employment will also be more relevant in future. Similarly, the importance of long-term strategic plans will increase.

The new funding model will enter into force on 1 January 2021. However, the success indicators are already relevant because the three-year averages of the result indicators will be calculated using the results for 2017–2019.

Ministry of Education and Culture press release on 17 January 2019 (in Finnish)

 

Last updated: 21.1.2019