The Commonwealth Budget – Overview 2003-04

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The Government's investment in higher education

Our universities — backing Australia's future

Education creates opportunities for all Australians to improve their standard of living. The Government will introduce wide–ranging reforms to ensure the higher education system provides greater access to a high quality of education for all Australians. The Government will invest an additional $1.5 billion in the system over the next four years to make this vision a reality.

Strengthening Australia's higher education system

The Government is acting to strengthen the higher education system's role in the community. Australia needs a diverse range of higher education institutions serving a wide range of needs. Australians need the opportunity to access high quality education, and institutions need the flexibility to meet those demands.

The Government is making a substantial commitment to secure this vision, involving more than $1.5 billion over the next four years, growing to an extra $870 million each year once fully implemented.

The major reforms include

• a $775 million increase, over the three years from 2005, in base funding for universities, directly benefiting around 400,000 students
• more flexibility for universities in setting course fees

• $123 million over the next four years for regional campuses
• an extended Higher Education Loans Programme (HELP) to improve access and choice in education, assisting over 40,000 existing and new full fee–paying students, with students helped to invest an extra $800 million in their education over the next four years
• $161 million over four years to provide higher funding for national education priorities, focused on teaching and nursing and 1300 extra Commonwealth–supported places in these fields
• a $184 million package of scholarships and equity initiatives over the next four years
• $211 million from 2006 over the forward estimates period in further incentives to strengthen the quality of teaching and encourage diversity in the education system
• more effective governance and workplace relations to deliver better value for money.