The employment outcomes of a university’s graduates will deliver 40 per cent of Commonwealth Grant Scheme funding increases from next year
Education Minister Dan Tehan announces the new model, which is based on the work of the Wellings panel, this morning.
The other three criteria, each worth 20 per cent, are student success, student experience, and participation of Indigenous, low socio-economic status, and regional and remote students.
In 2020, the performance funding pool is $80m, rising “over following years” to 7.5 per cent of CGS.
“The performance-based funding model that has been finalised makes an explicit link between funding and one of the key goals of every university: to produce job-ready graduates with the skills to succeed in the modern economy,” Mr Tehan says.
The minister added the model is not “punitive,” that universities that do not meet performance targets, “will be supported to improve their performance.”