Alarms went off after news that the Equinoccial Technological University (UTE) has a deficit of USD 17 million, in early February. University authorities dismissed 308 employees and failed to deliver USD 300,000 to sports teams of the institution, to find a way out to its difficult financial situation.
At least six other universities are making economic adjustments to optimize their resources. De Los Hemisferios University, the San Francisco de Quito University, the Politecnica Salesiana University, the Pontificial Catholic University, the International SEK University and the Technical University of Loja.
Most of the presidents agree that the country’s economic recession will have an effect on the economy of families, that will be reflected in a reduction in student enrollments in private schools. Also in potential tuition delays. (I)