Under the Job-ready Graduates Package (the package) of reforms to higher education, Government university funding of $18 billion in 2020 will grow to $20 billion by 2024. The package will create up to 30,000 new university places, and 50,000 new short course places by 2021 and provide additional support for students in regional and remote Australia.
The Job-ready Graduates package invests in higher education in areas of national priority so our higher education system can deliver the best results for students, industry and the community.
The Job-ready Graduates package invests in higher education in areas of national priority by providing better funding arrangements for universities, a better integrated tertiary system and improving transparency and accountability, quality and standards.
The Australian Government’s Job-ready Graduates package (the package) invests in higher education in areas of national priority and ensures our higher education system delivers the best results for students, industry and the community.
On 6 October 2020, the Treasurer, the Hon Josh Frydenberg MP, announced the Research Package as part of the 2020-21 Budget. The Package provides over $1.2 billion towards the research sector. There are 5 measures in the package. Together, these will ensure the ongoing capability and excellence of Australian research.
Further, in 2021 an additional $1 billion has been allocated to support the vital research activities of Australia’s universities.
The changes will deliver more job-ready graduates in the disciplines and regions where they are needed most and help drive the nation’s economic recovery from the COVID-19 pandemic.
The package will ensure better university funding arrangements, a better integrated tertiary system, targeted investments in national priorities, improved transparency and accountability, and more opportunities for regional, remote and Indigenous students.
The package was developed based on extensive consultation. The initial discussion paper was supported by a consultation process on draft legislation (submissions to that process are available). The Senate Education and Employment Legislation Committee considered the Bill and you can read the submission from the Department and committee finding.