Tertiary to get more funding

YAY, Tertiary Institutes are to get more funding in the up coming budget.

The upcoming budget will include a large boost in spending to support the Government's reforms of the tertiary sector, Tertiary Education Minister Michael Cullen said today.

Dr Cullen announced there would be an extra $36.8 million spent on operating spending over four years and $90 million on capital funding over two years.
Part of the money would be new funding and some would come from savings anticipated from changes to how universities and polytechnics were funded.

Dr Cullen's spokesman said the breakdown of how the increase would be funded would be included in the budget, due to be released on May 17.

The spending would go toward:
$21 million of operating funding and $55m of capital funding over the next two years for Institutes of Technology and Polytechnics (ITPs) to fund initiatives to develop new areas such as distance learning and greater collaboration. It will also allow ITPs to find ways to encourage students to go on to higher qualifications;

$15.8m of operating funding over four years to help Industry Training Organisations (ITOs) identify training needs and respond to them;

$35m of capital funding over the next two years for the Quality Reinvestment Programme. This fund supports ITPs and wananga to change the way they operate in order to meet the needs of students, employers and communities.

The Government has been introducing reforms of the way tertiary education is funded.
Dr Cullen wants to move away from payments based on the number of students attending courses, to more funding for education seen to meet the needs of employers and the Government.

"This shift in focus is important if our tertiary education system is going to offer taxpayers greater value for money," Dr Cullen said.