Who pays what? Financing models in Australia Peter Holden Executive Director, International

Where does the money come from? Federal grants to the States through partnership agreements ◦ New student entitlement model where the student chooses the provider State funds Student loans Employer contributions Student and employer payments (fee for service)

Funding sources

Funding sources (continued)

How do we judge the benefit

How do we judge the benefit? Independent research on TVET’s contribution to economic growth: Access Economics commissioned by TDA in 2012; report delivered in 2013 A cost-benefit analysis and returns from additional investment in TVET

The results Confirmed funding of $AUD2.7 billion over 5 years in TVET will result in a net benefit of 13.4 cents in every dollar:

The results A further expansion of funding ($AUD 6.7 billion over 5 years) will deliver a net benefit of 32.5 cents in very dollar spent:

For more information Summary of the report and TDA policy statement Summary Full report NCVER statistics