Australia Continues To Deliver More Money For Higher Education
Australia’s transition to a university funding system which is more responsive to student demand has moved a step closer with the passage of important legislation through Federal Parliament.
Minister for Tertiary Education Senator Chris Evans welcomed the passage this week by the House and Representatives and the Senate of the Higher Education Support Amendment (2010 Budget Measures) Act 2010.
The legislation provides more money to universities for the transition to the new funding system and increases the indexation from 2012.
It is estimated that the new funding system will deliver an additional 195,000 Commonwealth supported places for Australian students from 2010 to 2013.
“It’s yet another demonstration of our commitment to deliver a growing and sustainable higher education system.”
The new indexation rate for higher education grants from 2012 will deliver an estimated $2.6 billion in extra revenue to higher education providers over the period 2011 to 2015.
“This will further contribute to the overall financial stability and viability of the higher education sector and will provide greater certainty for individual institutions when planning for future development,” Senator Evans said.
“Through a record $37.8 billion investment in university teaching and learning and $9.8 billion in research over the 2008-09 to 2011-12 period, the Government is creating a tertiary education system that allows more students to achieve a higher education qualification and find a rewarding job in the knowledge economy,” Senator Evans said.
“Australia is now in a stronger position to meet the Government’s target that by 2025, 40 per cent of all 25 to 34 year olds will hold a qualification at bachelor level or above.”
Topics: 2010, 2010 Budget Measure, Australia, business, college, economic development, economic growth, Economy, education, employment, Governance, government, Higher Education Support Amendment Act 2010, House of Representatives, indexation, innovation, investment, jobs, learning, legislation, moniter, monitor, news, Parliament, school, Senator Chris Evans, skills, society, students, training, transition, university, university funding system, workforce
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