A lack of foreign pupils is likely to mean more pain for schools next year.
Primary, intermediate and secondary schools lost $40 million in revenue between 2019 and last year as international students went home.
The numbers are expected to be worse this year and next year.
Waihi College Principal Alistair Cochrane told Mike Hosking his 35 European students have left, meaning some staff have already lost their jobs.
"We've put some staff on a retainer to keep things ticking over, but I have no confidence we will be able continue to do that into 2022."