Great Exchange Year in Sight

The pictures are from TIO’s photo and video competition for CBS students who were on exchange in the fall of 2012. Click on the picture to see a larger version.¨

Almost 1,200 happy CBS students have just received confirmation that they’re going on exchange. At the same time, the politicians have decided to adjust the financing model, so CBS needn’t fear new demands of repayment.

Universities all filled up
City University of New York is the most popular university among the CBS students who apply for going on exchange. That’s what the numbers show, now that this year’s applications have been tallied and the students have heard from The International Office (TIO).

1,393 CBS students have applied for exchange in 2014, of which 741 are BSc students and 652 are MSc students. The BSc BA program has taken pole position with its 165 applicants and there’s a total of 44 nationalities among the applicants.

Although the United States of America is the preferred destination among the students, TIO has seen success with its campaigns to bring attention to alternative destinations.

- The universities we’ve made agreements with were all sold out and several of the universities where we had excess last year we’re taken this year says special consultant Scott Lewis and adds that he’s sure that it can be attributed to the campaigns.

Apply again within six weeks
Approximately 17 percent of the applicants weren’t placed in the first round. That’s less than last year and they still have the opportunity to apply in the early spring, when the second round of applications comes around on February 3rd and March 3rd.

While the students received the results of their exchange applications, the current government along with Venstre and Konservative have agreed to adjust the current model of financing for the universities’ foreign exchange fund of outgoing and incoming students.

In June of 2013, the government sent a bill to hearing, aimed at totally repealing the balance principle, by reevaluating the so-called taximeter financing. As a result of the replies of the hearing and negotiations in the settlement group, an agreement of maintaining the current balance principle was reached instead, albeit with adjustments to increase flexibility.

Huge bill leads to new rules
The political agreement is no surprise to CBS, who also participated in the hearing. However, CBS can look forward to being able to regulate the economic balance between incoming and outgoing students over the course of three years, rather than one which has been the case so far.

- Last year, CBS had a small deficit on the academic credit balance and had to send money back to the ministry. Now, we can balance the number of students that go on exchange and the number of foreign students that come to CBS over a three-year period, and that makes it significantly more flexible, says Tom Dahl-Østergaard, head of The International Office at CBS.

In April of 2013, the bill for the academic credit balance of 2012 came: The universities were to pay back DKK 97.5 million, because they’d received more exchange students than they’d sent out. CBS’ bill amounted to DKK 4.9 million.

Make sure you bring the academic credit home
The ministry isn’t measuring number of heads but rather ECTS points and the amount that needs to be repaid corresponds to the difference between the number of ECTS points that CBS students have earned abroad and the number that the foreign students have earned at CBS.

- All CBS students should do everything they can to come home with full academic credits, Tom Dahl-Østergaard emphasizes and adds that sending out more students than we receive isn’t a viable option.

CBS is placed nicely at the top of the boards in the statistics on how many students go on exchange, which grew last year. Based on the 2012 bill, CBS has ended partnerships with a number of universities that could no longer offer what the students look for. Meanwhile, a number of new exchange agreements have been reached and as mentioned above, they’re already all sold out. All in all, the exchange-year looks bright for CBS.