A lesson from Mowbray's bad books

The collapse of Victoria's Mowbray College is a warning for many private schools following the same funding model and now over-reliant on debt.

The collapse of Mowbray College in Victoria is a timely reminder for the 1000 independent school boards in Australia: if you have high debts you are a hostage to maintaining close to a full school – not easy in tough times.

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