A revenue generation and cost reduction plan have been developed by the University of West Indies Open Campus to help the institution come out of its financial difficulties.
There is an admission from the Campus the funding model must be revisited and changes made since it was formally launched in July 2008.
35 percent of financial assistance is collected from several governments which support the UWI.
65 percent of the funding is collected from student tuition fees and entrepreneurial activities.
Minister of Education, Dr Nyan Gadsby Dolly, provided the update during the question and answer period in the Senate on Tuesday.
The Campus was set up to be a self-financing enterprise but the fees were never set at a level which took this into consideration.
Dr Gadsby Dolly was asked by the Opposition what are the reason(s) for the financial challenges being faced; and what steps, if any, are being taken to assist the UWI Open Campus.