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Salient: Victoria University Students' Paper. Vol. 25. No. 13. 1962

Finance

Finance

Dr S. G. Culliford (the assistant to the Vice Chancellor at Vie), discussed sources of finance and other matters relating to the establishment of halls. Any large source of finance was not available unless the public could be convinced it should give, said Dr Culliford.

Although the State was prepared, with varying degrees of willingness, to pay for the erection of teaching and associated buildings, I it was less ready to see the urgency of the need for residential accommodation.

Numbers of students in N.Z. Universities are expected to increase from 16,000 in 1962 to over 30,000 in 1975. Assuming the present facilities adequate (which they are not) then in the next 13 years teaching accommodation will be needed for about 14,000 students.

As about half of these will be living away from home, residence will be required for about 7,000. If all these were to be accommodated in Halls, ignoring the present requirements, the cost would be about thirteen million, or a million pounds a year.

The only large single source of finance would seem to be the government. Help might be given in the form of grant, subsidies or loans. Non-governmental assistance might be given in the form of location, endowment or loan.

However, these sources would all have strings attached. Donation and endowment would probably be subject to conditions as to the disposal of funds. Loans are subject to interest rates, donations to gift tax and so on. The only answer to the finance problem would seem to be the Government.