Superintendence issues observations on the recovery plan proposal of the Austral University of Chile

The Superintendence of Higher Education (SES) wishes to inform the public, and the university community in general, about the actions taken in relation to with the Austral University of Chile (UACh) and its Recovery Plan proposal.

On February 15, the Austral University of Chile formally presented its proposal for the 20-24-2025 Recovery Plan. This plan is intended to address the issues identified during the investigation carried out by the SES, which revealed financial breaches and a financial debt exceeding $91 billion over the last three years.

Following an exhaustive review and analysis of the measures and actions proposed by the university, The Superintendent's technical teams identified various observations that, if not corrected in a timely manner, could compromise the effectiveness of the recovery plan and its impact on the institution's financial and administrative health..

Consequently, on Thursday, February 29th, The Superintendency provided the Austral University of Chile with a detailed report containing technical observations that must be corrected, for which the institution has a deadline of 15 business days.. Once the university presents the required amendments, the Superintendency may determine the approval or rejection of the recovery plan.

Regarding this, the Superintendent's prosecutor, Daniella Maureira, stated that “the technical observations made to the recovery plan proposed by the Austral University respond to an instance offered by Law 20.800 and which, in this case, reveal significant weaknesses that concern this Superintendency and that, if not corrected in a timely manner, put at risk the effectiveness of the plan and the impact it intends to produce on the financial and administrative health of the institution. The Superintendency of Higher Education expects the Austral University to rectify the identified problems and present a more robust recovery plan, with more sufficient and pertinent measures, that allow for periodic monitoring and evaluation by the SES.”.

It is important to highlight that the Recovery Plan is a measure applied by the Superintendence, which allows the affected institution to define and adopt the necessary actions to remedy the situation autonomously, within a maximum period of two years, the problems that have affected its institutional stability. This plan must be approved and periodically supervised by the SES.