Brian Jeffrey
FPT University leads Vietnamese universities in revenue for 2023, accumulating nearly 2,920 billion VND ($121.67 million), with over 90% of this amount derived from tuition fees.
Hanoi University of Technology follows closely, experiencing a substantial increase in earnings from 1,070 billion VND in 2022 to 2,140 billion VND ($89.1 million) in 2023. Tuition fees accounted for approximately 63% of its total revenue, contributing 1,340 billion VND.
Additional institutions in the high-revenue category include Van Lang University and the University of Economics in Ho Chi Minh City. Van Lang University reported 1,758 billion VND in 2022, primarily from tuition fees, while the University of Economics saw its earnings rise from 1,443 billion VND in the previous year to nearly 1,680 billion VND in 2023.
The list of top revenue-generating universities also includes Nguyen Tat Thanh University (1,476 billion VND), National Economics University (1,410 billion VND), Ho Chi Minh City University of Technology (1,260 billion VND), Ton Duc Thang University (1,141 billion VND), Ho Chi Minh City University of Industry (1,010 billion VND), and Ho Chi Minh City University of Technology and Education (1,004 billion VND). Notably, Ho Chi Minh City University of Industry and Ho Chi Minh City University of Technology and Education have entered the top 10 this year, while Can Tho University has fallen out due to revenues dropping below 1,000 billion VND in 2023.
Most institutions continue to heavily depend on tuition as their main income source, with universities like Nguyen Tat Thanh and Ho Chi Minh City University of Technology generating over 98% from student fees. This high reliance raises concerns regarding the financial strain on students, especially those from lower-income backgrounds.
To tackle these issues, many universities are exploring ways to diversify their income. For instance, Hanoi University of Technology increased its revenue from research and other channels from 97.4 billion VND in 2022 to 506 billion VND in 2023.
Despite initiatives to broaden income sources beyond tuition, universities still primarily depend on three main revenue streams: tuition fees, government aid for operational expenses and faculty development, and additional sources like technology transfers and corporate partnerships.
As institutions increasingly lean on tuition fees, the risk grows that rising costs could inhibit access for students from underprivileged backgrounds. Many universities are planning tuition hikes of 8-15% in the near future, which could further strain students and their families financially.
