Minister welcomes TEC investment plans

The government is investing more funding than ever before in core students in our tertiary system – with a focus on those studying at a higher level, says Tertiary Education Minister Steven Joyce.

The Tertiary Education Commission (TEC) has today publicly released individual investment funding decisions for all of our publicly funded tertiary institutions. 

The investment plans show that funding for student places at universities in 2011 is $56 million more than 2010. It also shows the $25 million funding increase for student places at ITPs announced as part of Budget 2010.

Mr Joyce says the TEC is targeting its investment at courses that will deliver real economic gains for the economy.

“The 2011 investment plans will result in an estimated 2,600 more core student places in our universities than in 2009.  Over the next five years we expect to see a 20% increase in the number of completed degree-level courses.

“In our Institutes of Technology and Polytechnics (ITPs) the additional $25 million in funding is focussed on improving the overall quality of courses and the outcomes for students when they finish. 

”As a result of the funding decisions taken, the total number of places on offer in ITPs is estimated to decrease slightly instead of the previously signalled increase.  This is because of a move towards higher level qualifications within the ITP sector (which attract a higher level of funding support per place) and the merger of Telford Polytech with Lincoln University, which means Telford’s students are now counted in the university group.

“The TEC has moved to fund more higher level qualifications at ITPs in response to strong demand, and I support their approach,” says Mr Joyce.

“This focus will result in higher quality outcomes with improved employment opportunities – all of which is better for students, better value for tax payers, and ultimately better for the economy.”