The proposal is in the consultation phase, but the Otago University Students’ Association hopes to collect "thousands" of responses before submitting the proposal to the university’s senate later this year.
OUSA academic representative Stella Lynch said the proposal could modernise teaching at the university.
"We floated this idea back in February — but it’s gathered incredible momentum.
"Students are so on board with this; they see the benefits to their learning experience."
Ms Lynch, who is studying for a bachelor of science degree, said having access to recorded lectures had changed the way she studied.
"I have ADHD and before I got a diagnosis, I relied solely on my lecture recordings to help me pass.
"The only reason I’m in my third year and graduating at the end of this year was because I had that access.
"I was able to manage my learning; it’s been huge for my education."
Ms Lynch said it could also address cost-of-living issues for students.
"Being able to take up a day of work knowing you still have access to the lecture recordings will be life-changing for many students."
OUSA international students’ representative Ibuki Nishida, of Tokyo, said the proposal would break down a lot of communication barriers.
"A lot of people meet the English language requirement but find the Kiwi accent a big hurdle to get over in the first couple of months.
"It will be a game-changer for international students — it will help ease them into the their university experience and have one less thing to worry about in a new city and new life."
Deputy vice-chancellor academic Prof Stuart Brock said the university’s recording of lectures and other teaching activities policy was last reviewed in 2016.
"Given there have been many changes in our context and subsequent teaching and recording practices since this time, we needed to review and update the policy.
"Students would usually feed into this kind of process by approving the changes once amendments have been made. The university has taken the opportunity this time to amplify the student voice by asking the OUSA to collaborate as co-sponsors, or co-leaders, on the policy review.
"This is the first time Otago has collaborated with students in this kind of way.
"Together we have already engaged staff and students in early consultation and will begin the next stage of formal consultation in August."
Mr Nishida said ideally, the system would be mostly automated, "so that lecturers and staff don’t have to spend their whole day entering captions".
The OUSA would also work with the university’s IT department.
"I think the proposal is feasible.
"Anyone from any walk of life would benefit from this — hopefully, we can get this done in time for the start of next year."
