The department has released a consultation paper on the implementation of a new Needs-based Funding system to support more people from underrepresented groups and those studying at regional and remote campuses to complete their university education.
The proposed approach to Needs-based Funding would include a per-student funding amount (calculated based on Equivalent full-time student load (EFTSL)) for low-SES students, First Nations students and students with disability enrolled in Commonwealth supported places. It will also deliver contributions for students enrolled in Commonwealth supported places at regional and remote campuses.
Evidence shows that students from underrepresented groups face barriers to finishing university, with success rates falling below the national figure. Students living in a regional or remote area while studying also succeed at a lower rate compared to the national average.
A new Needs-based Funding system is one of the recommendations of the Australian Universities Accord.
Minister for Education, the Hon Jason Clare MP said:
“The Universities Accord sets a target that by 2050, 80 per cent of workers will have a TAFE or university qualification.
“To hit that target we have to break down that invisible barrier that stops a lot of people from disadvantaged backgrounds getting a crack at going to university and succeeding when they get there.
“A new Needs-based Funding system will mean students from poor families, students with a disability, Indigenous Australians and students who study in regional Australia get the extra academic and wraparound support that they need to succeed when they get to university.”
Needs-based Funding is one of three structural reforms announced as part of the 2024-25 Budget. Consultation is already underway on the establishment of the Australian Tertiary Education Commission (ATEC) and a new Managed Growth Funding System.
Feedback on the Needs-based Funding consultation paper can be submitted until 9 August 2024 to AustralianUniversitiesAccord@education.gov.au.
To read the paper, visit Post-Budget Implementation Consultation Papers.