TEC announces a new integrated funding system
Thursday 2 June 2005
TEC announces a new integrated funding system for PTEs The TEC has developed a new integrated funding system for Student Component Funded Private Training Establishments that will make sure government money is being used to deliver relevant and quality education and training.
Under the new system, PTEs will receive a baseline funding allocation and an opportunity to apply for additional funding.
"This will provide high performing PTEs with the opportunity to increase the number of programmes they offer or the number of students they have in areas of proven relevance and need," said Acting Tertiary Education Commission General Manager, Colin Webb.
The new baseline funding allocations sent to PTEs this week also included significant reductions for a number of providers. Dr Webb said it is important to realise that these reductions were made because some providers were not using their allocations.
"However, the new system allows for PTEs who have been given a baseline allocation reduction to apply for more funding. They will need to show that any new programme meets the tests of quality and relevance though, and that students will enrol in it."
PTEs are an integral part of the tertiary education sector with many addressing training needs not met by other tertiary education providers. There are about 200 private providers receiving approximately $150 million in public funding from the TEC via the Student Component Fund.