Source: Tertiary Education Commission
Last updated 30 May 2023
Last updated 30 May 2023
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This page provides information about how Equity funding is set and payments are made.
This page provides information about how Equity funding is set and payments are made.
Funding mechanism
The Minister responsible for tertiary education issues the Equity Fund funding mechanism. It sets out the purpose of the fund and gives authority to the Tertiary Education Commission (TEC) to administer the funding.
Funding is agreed through a tertiary education organisation’s (TEO’s) Investment Plan. A TEO that receives Equity funding must:
For the full Equity Fund requirements, see the Equity funding conditions.
To read the Equity Fund’s funding mechanism, see Funding mechanisms and delegations.
Funding allocation and payments
Funding allocations, including any amendments, are available through the My Allocations and Payments app on Ngā Kete.
Equity funding is paid in equal monthly instalments.
For the calculation of indicative allocations see the methodology from the relevant year. The most recent information is at the top.
For more details regarding your specific allocation, please contact customerservice@tec.govt.nz or your Relationship Manager.
Funding wash-ups
For the calculation of funding wash-ups see the methodology and technical specifications from the relevant year. The most recent information is at the top.
Suspending or revoking Equity funding
Under Schedule 18 Clause 16 of the Education and Training Act 2020 (the Act), we may suspend or revoke some or all funding given under section 425 of the Act, if we are satisfied on reasonable grounds that:
the TEO has not complied, or is not complying, with a condition on which funding has been given under section 425 of the Act, or
the TEO has not provided, or is not providing, adequate and timely information required by the TEC or Ministry of Education under section 425 of the Act.
If a TEO has its funding approval revoked in accordance with Schedule 18 Clause 16 of the Act, the unspent portion of funding is repayable to us.
For more information, see the Equity funding conditions.
