 |
MEDIA RELEASE
NEW FUNDING FOR HIGHER EDUCATION BEGINS
11 May 2004 MINBUD 15/04
The first major tranche of $2.6 billion in new funding will be
provided in the 2004-05 Budget following the passage last year of
the legislation underpinning the Government’s Higher Education
Reform package Our Universities: Backing Australia’s Future.
The Budget will deliver funds for universities next year for
additional university places to support equity and quality
initiatives, and to help support teaching courses.
In addition, in July this year, the HECS repayment threshold will
be increased from the current level of $25,348 to $35,000. This will
immediately benefit around 185,000 people who will not be required
to make compulsory HECS repayments under the new threshold, at a
cost of some $106 million. The threshold will increase to $36,184 in
2005-06.
Funding was provided in the 2003-04 Budget for universities this
year to support their regional costs and provide new scholarships
for students. The package will deliver to universities $2.6 billion
over five years, including funding for more than 34,000 new
university places. New public funding over the next ten years will
be some $11 billion. Just as importantly it will deliver much needed
reform, freeing universities to grow in areas of expertise, reducing
class sizes and placing the student at the centre of the university
experience.
Over the next five years, the package will provide:
-
$838 million in
additional base funding;
-
$146 million to support
regional campuses;
-
$160 million to support
the practical component of teaching and nursing programmes;
-
approximately 25,000,
fully-funded places;
-
a further 9,000 new
fully-funded places, including for medicine, teaching and nursing,
and growth;
-
$327 million in
scholarships to assist students with their education and
accommodation costs;
-
more than $320 million
to support teaching and learning in universities, including a new
National Institute;
-
two new loan schemes to
assist those students who choose to pay the full cost of their
education, and those wanting to spend a semester or two studying
overseas;
-
more than $100 million
to support a range of equity initiatives, including funding for
Indigenous students, students with disabilities and those from
disadvantaged backgrounds;
-
$83 million to support
workplace productivity in universities; and
-
$36 million to support
collaboration and structural reform over 2005-2007.
Further to these initiatives, the 2004-05 Budget provides
additional funding of $4.9 million over four years to the Australian
Maritime College for development of a new education facility at
Point Nepean in Victoria, $10 million over the next decade for a new
national Chair in Child Protection at the University of South
Australia, and $18 million over three years for the University of
Western Sydney’s proposed new medical school (conditional on
matching funds from both the University and the NSW Government).
The Australian Government was determined to see these reforms
through in the national interest. The reforms will guarantee equity,
quality, sustainability and diversity in our higher education sector
for many years to come.
Media contacts:
Dr Nelson’s Office: Ross Hampton 0419 484 095
Dept of Education, Science & Training: Virginia Cook 0412 971 323
|
