More school funding
The Coalition Government is investing a record $37.6 billion in total recurrent funding for all schools over the next decade taking our total funding to $307.6 billion.
Funding per student on average is increasing by around 62 percent over a decade. To see what long term funding is being provided to your local school, visit: www.education.gov.au/school-funding-estimator
We have replaced secret funding deals with a single, needs-based national model of schools funding. Every student, regardless of the state or territory they live in, will now receive funding based on need. Our agreement is fair to all students and provides certainty over the next decade.
Improving school standards
Over the past decade there has been an alarming decline in student results. It is critical we improve standards and student performance in our schools. We appointed David Gonski AC, to chair the Review to Achieve Educational Excellence to investigate how the Coalition Government’s extra funding can best be used to improve results. We will work with the states to reform the curriculum, provide online learning tools for teachers, and better support teachers and parents to support students. For the first time, a national blueprint will be available for every government, teacher and family to tackle declining school performance. This will help record funding lead to better outcomes.
We are supporting the choice of parents who send children to non-government schools. A fairer measure will now be applied to determine the capacity of parents to pay. Better data is now available and a direct income measure will be used to identify the median income of parents. As a result of this review, an extra $4.5 billion of funding will be available to non-government schools over the next decade. This extra funding is not at the expense of government schools.
From 2017 to 2029:
Fixing vocational education and training
The Government’s $3 billion Skilling Australians Fund will create thousands of new apprenticeships over the next 4 years.
Record university funding
Australian Government funding for higher education stands at record levels this year at over $17 billion. It is set to grow by almost $2 billion between 2017 and 2021. Universities will continue to receive indexed student contribution funding for all students. Taxpayers expect universities to focus on support for students, ahead of administration (including $1.7 billion being spent on marketing in the last seven years). From 2020 onwards, a portion of each university’s funding will be based on criteria being met, to ensure funding supports good outcomes for students. We are consulting with the sector on the design of this.Australia has one of the most generous student loan schemes in the world – the Higher Education Loan Program (HELP). This ensures domestic students don’t pay up-front fees. From 1 July 2019, the minimum repayment threshold will be $45,881 with 1% repayment. This means a student earning this amount would pay back less than $9 per week. The Government is funding the Australian Research Council to provide $3 billion in grants for university research projects over the next four years.