Financial crisis forces 3 Taiwan universities to shutdown

By Esra Tekin

ISTANBUL (AA) – At least three universities in Taiwan were asked to close due to their weak financial situation.

Their students will be transferred to other universities to complete their studies.

Taiwan's Education Ministry directed three financially struggling private universities – Mingdao University in Changhua, Tatung Institute of Technology in Chiayi, and Transworld University in Yunlin – to halt the enrollment of new students for the upcoming semester and cease operations by next year.

Using an estimated NT$1.25 billion ($40 million) from a designated "closure fund," the Ministry of Education will facilitate the shutdowns of the three universities.

The closure of three universities comes after the COVID-19 pandemic struck the world, negatively affecting economies, including in Taiwan.

The ministry will assist 1,120 students currently enrolled in these schools in transferring to other universities, Taiwan's Central News Agency (CNA) reported.

The universities will close by the July end next year.