Release type: Media Release

Date:

Funding guarantee for universities from 2021

Ministers:

The Hon Dan Tehan MP
Minister for Education

Minister for Education Dan Tehan today announced new measures to strengthen the Job-ready Graduates package in response to feedback from the sector.

The Morrison Government has announced:

  • $326 million funding for additional university places for Australian students in 2021;
  • Funding certainty for universities over the next three years; and
  • Amendments to the Commonwealth Grant Scheme Guidelines to specify the formula for the Transition Fund Loading and the Other Grants Guidelines to give effect to the Government’s Indigenous, Regional and Low Socio Economic Attainment Fund and National Priorities and Industry Linkage Fund.

Our Government will introduce these measures following consultation with universities about the Job-ready Graduates package,” Mr Tehan said.

“The funding guarantee underpins the $2 billion funding increase for universities from this year to 2024 and will give universities funding certainty as they focus on domestic students and support Australia’s COVID-19 recovery.”

The Government also released the discussion paper on the National Priorities and Industry Linkage Fund (NPILF) for public consultation today.

The paper sets out the plan to distribute $900 million over four years in block grants to universities to support engagement with higher education institutions and industry.

“The fund has a strong focus on investment in STEM industries and will support universities to produce Job-ready Graduates for their local industries and communities,” Mr Tehan said.

“We are giving universities the flexibility to be responsive to student and industry demand.”

Submissions are open until Friday 30 October 2020. For more information and to make a submission, visit www.dese.gov.au/NPILF.