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March 3, 2008 | by  | in News |
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Mo’ money fo’ students

Victoria University has been granted nearly $136 million in funding for 2008 by the Tertiary Education Commission under a new investment scheme that aims for “positive outcomes for students, employers and others with a stake in tertiary education.”

Alongside Victoria, the three-year Investments Plans of 110 other tertiary education organisations were approved by the Commission last December. The funding associated with the approval of these plans amounts to over $2.2 billion out of the $3.3 billion that the Commission invests in tertiary education and training annually on behalf of the Government.

“Approval of these Plans and [the funding announcement] marks a significant milestone in the implementation of the new way of investing in tertiary education,” Commission Board chair David Shand says. “The new way of investing will ensure tertiary education organisations are funded to deliver quality education.”

In line with the tertiary education reforms introduced by the Government last year, the Commission’s funding has shifted its focus away from the bums-on-seats model to a scheme that focuses on quality over quantity.

“In its Investment Plan, each [tertiary education provider] has included information on how it will continuously improve the quality of its teaching and learning,” Shand explains.

Of the universities, Victoria received the third largest amount, behind Auckland ($312 million), Otago ($227 million) and Massey ($167 million).

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