More school funding
The Coalition Government is investing a record $243.5 billion in total recurrent funding for all schools from 2018-2027 – this an extra $24.5 billion in schools over the next decade. Funding per student on average is increasing by around 50 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 27 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 breakthrough 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. The Review has now delivered its report, Through Growth to Achievement and the Government is now working with the States and Territories and the non-government sector, concerning the implementation of its 23 recommendations.
Fixing vocational education and training
Our new $1.5 billion Skilling Australians Fund will give Australians the opportunity to gain the skills to fill Australian jobs. Employers that sponsor migrants under the new temporary skill shortage visa and certain permanent skilled visas will be required to pay a levy which will provide revenue to the Fund. The Skilling Australians Fund replaces Labor’s 2012 five-year National Partnership Agreement, under which apprentice and trainee numbers collapsed. A re-engineered partnership with the states and territories will mean an extra 300,000 apprenticeships, traineeships, pre-apprenticeships and higher apprenticeships are provided over the next four years. We have axed Labor’s failed VET FEE-HELP scheme and replaced it with VET Student Loans which contains greater protections for students and taxpayers and ensures that taxpayer-subsidised loans are going towards courses with strong job outcomes. We have also saved around $1.4 billion with a number of measures to crack down on dodgy operators, including establishing a National Training Complaints Hotline for students and strengthening the powers of the regulator. We’ve also established a VET Ombudsman to investigate and resolve complaints.
Record university funding
Australian Government funding for higher education stands at record levels this year at over $17 billion. Funding for research will grow from $2.8 billion this year to $3.1 billion in 2021. Unlike Labor, the Coalition Government is ensuring that the higher education system is sustainable for current and future students and taxpayers. 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. A HELP loan is still one of the cheapest loans you will ever get. Students don’t have to pay it back until they’re earning a good income. Our system is more generous than the UK. The Coalition Government is making higher education entry easier and simpler through better and more standardised information about course requirements. It is providing more information about student satisfaction across public and private higher education providers and from 2018 will be providing improved data on employment outcomes for graduates so prospective students can see what institutions and what courses are delivering the best results.