AUST Introduces Self-financing Requirements For Students: Dr. Mujaddad
Faizan Hashmi Published October 09, 2024 | 05:20 PM
ABBOTTABAD, (UrduPoint / Pakistan Point News - 9th Oct, 2024) Abbottabad University of Science and Technology (AUST) has achieved a unique distinction among 267 universities nationwide by introducing a self-financing requirement for students seeking degrees. This initiative not only allows students to cover their educational expenses and support their families but also contributes significantly to Pakistan's foreign exchange reserves.
Vice Chancellor of AUST Professor Dr. Mujaddad ur Rehman expressed these views while talking to journalists here.
He said that with 5 million students currently enrolled in private and public universities across the country, the potential impact of this policy is substantial. The Vice chancellor said that if each student is required to earn 10 Dollars as a prerequisite for obtaining their degree, this could generate significant revenue for the country. Experts believe this initiative could play a crucial role in reducing the national debt and accelerating Pakistan's path to development and prosperity.
Professor Dr. Mujaddad ur Rehman said that in addition to this innovative policy, the university has successfully resolved longstanding land disputes and, for the first time in its history, secured a significant funding amount of 610 million rupees. He said that the administration is urging students to prioritize their education and embrace the self-financing model, which encourages hard work and financial independence while preparing them for future challenges.
This forward-thinking approach is expected to set a precedent for other universities and significantly contribute to Pakistan's progress, the vice chancellor said.
He said that the idea is revolutionary, especially in a country where many families struggle to afford higher education. Currently, there are approximately 5 million students enrolled in various private and public universities in Pakistan.
If a significant number of these students participate in self-financing, it could lead to substantial improvements in their families’ financial situations. Furthermore, this model could potentially boost the national foreign exchange reserves, addressing one of the country’s pressing economic challenges.
The broader economic implications of AUST's self-financing initiative cannot be understated. Dr. Rehman posits that if each student engages in self-financing, the cumulative earnings could significantly reduce the national debt and stimulate economic growth.
This is particularly important in a nation where the financial strain on public resources is increasingly evident. By harnessing the potential of young, ambitious students, the university is contributing to a vision of economic resilience and sustainability.
Moreover, Dr. Rehman points out that the current era of digitization provides numerous opportunities for students to earn money online. This shift towards digital platforms means that students can work flexibly while pursuing their studies, making it easier to balance both responsibilities. The university is committed to providing the necessary resources and guidance to help students navigate these opportunities.
However, the journey towards implementing this self-financing model has not been without challenges. One of the significant hurdles faced by AUST has been related to land issues. The establishment of the university led to complex land ownership disputes that threatened its operational stability. Dr. Rehman recalls that these matters were compounded by ongoing court cases, creating uncertainty for both the university administration and landowners.
Through diligent efforts and, as he describes, “with divine assistance,†AUST successfully secured a significant amount of 610 million PKR, marking a historic achievement for the institution. This funding not only helped address the land disputes but also provided the university with the financial stability needed to focus on its educational initiatives.
Looking ahead, Dr. Rehman is optimistic about the future of Abbottabad University of Science and Technology. The institution is not only focused on academic excellence but also on developing a holistic educational environment that prepares students for the challenges of the real world. The self-financing model is just one of many innovative approaches the university plans to implement.
