As the 2024-2025 academic year kicks off, many Vietnamese universities have released their financial statements for 2023, with several reporting impressive revenue figures.
Among them, the top 10 highest-earning institutions—both public and private—have cemented their positions as the wealthiest universities in the country, though concerns about the increasing reliance on tuition fees persist.
Leading the rankings among private universities is FPT University, which reported nearly VND2.92 trillion in revenue, a staggering 125% increase from 2021. This growth highlights FPT University’s expanding student body and solid financial performance, allowing it to maintain its spot as one of Vietnam’s richest educational institutions.
In second place is the Hanoi University of Science and Technology (HUST), one of the nation’s leading public universities, which doubled its revenue from the previous year to reach VND2.14 trillion in 2023. HUST saw significant gains not only from tuition fees but also from its growing income from research and other sources, which increased from VND97.4 billion in 2022 to VND506 billion in 2023.
Third on the list is RMIT University Vietnam, the foreign-invested institution that reported revenues of AUD226.2 million, or approximately VND3.8 trillion. As one of the most prestigious private universities in Vietnam, RMIT continues to attract a high number of international students, contributing to its strong financial performance.
Other universities in the top 10 include several public institutions with substantial revenue streams. The University of Economics Ho Chi Minh City saw its revenues rise from VND1.44 trillion to VND1.68 trillion, securing its place as a top earner. Similarly, the National Economics University reported VND1.41 trillion in revenue, up from VND1.06 trillion the previous year, reflecting its continued financial stability.
Two new additions to the list of universities earning over VND1 trillion in 2023 are the Industrial University of Ho Chi Minh City and Ho Chi Minh City University of Technology under the Vietnam National University system. Their entrance into this exclusive group highlights their expanding influence and financial growth in recent years.
On the private university front, apart from FPT University, Nguyen Tat Thanh University and HCMC University of Technology (HUTECH) also made it into the top 10, each generating over VND1 trillion in 2023. These universities, like their public counterparts, rely heavily on tuition fees, with student payments comprising more than 98% of their revenues. Van Lang University, which earned VND1.758 trillion in 2022, has not yet disclosed its 2023 figures.
Despite the impressive revenue growth across these institutions, experts have raised concerns about the increasing dependence on tuition fees as the primary source of income. Four of the top five universities in Vietnam reported over VND1 trillion coming solely from tuition, a trend that raises questions about financial sustainability and affordability for students.
Last year, the government approved a raise in the tuition fee cap for public universities, which had been frozen for years due to the impact of Covid-19. Public universities without financial autonomy can now charge between VND12-24.5 million per year, while autonomous institutions are allowed to charge up to 2.5 times more. For accredited programs, universities can set their own tuition fees, and students in 2024 are expected to pay between VND10.6-250 million, with an average of VND20-40 million per year. Most universities have projected annual tuition increases of 8-15% going forward.
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Source: Vietnam Insider