Tertiary Funding Faces Overhaul
March 10, 2010 New Zealand Finance
The New Zealand Government has announced that from 2012 the tertiary-education funding scheme will be changed to reflect the academic performance of institutions and not just their enrollment numbers.
In Government statement released March 10th, Steven Joyce, New Zealand Tertiary Education Minister, announced that the funding that tertiary institutions receive in 2012 will be based on their academic performance of 2010. Dr Roy Sharp, Chief Executive of the Tertiary Education Commission (TEC), confirmed that from July 2010 the academic information of each tertiary institution will be published and used to evaluate funding entitlement. Judging parameters will include student’s progression to higher levels of study; student retention rates; course completion; and, qualification completion.
Steven Joyce said that the exact details of how the new system will be implemented to each tertiary institution will be decided on by the TEC and the Tertiary Education Ministry shortly. Although he did reveal that the funding change will be incremental, with the first year seeing only a small percentage of fiscal backing pegged to performance.
Justifying the policy change, Steven Joyce said that the Government holds concern over a number of courses that have very low passing levels and do not adequately prepare participants for the work-force. Summarizing the intention, the Minister said, “We need to know that the money we are spending on tertiary education is being well used and is giving young people the skills that employers demand and that will lead to productive, meaningful employment.”
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