Source: Tertiary Education Commission
We invest over $3 billion into tertiary education
The Tertiary Education Commission (TEC) works with providers to deliver a quality tertiary system that provides study and career pathways for all New Zealanders. Our investment priorities inform how we fund providers. They enable a sustainable system – one that gives effect to the Tertiary Education Strategy and meets the skills needs of our motu.
New guidance to inform Investment Plans
The SPG gives further information about what the TEC will look for in Investment Plans – information that wasn’t available when Plan Guidance was published in February. It also restates the overarching message of transformational change for the success of all learners.
If you’re a provider, when finalising the content of your Plan, please consider all the information available for the investment round including Plan Guidance, SPG and the Investment Briefs.
You have until Friday 7 July this year to review indicative allocations and submit your Investment Plans.
Important changes and additions to guidance for 2024
The SPG for investment in 2024 includes:
targeted investment priorities for vocational education and training, informed by advice from the Ohu Mahi Workforce Development Councils (WDCs) for the vocational sector, and Regional Skills Leadership Groups (RSLGs)
reiteration of the Plan Guidance’s overarching message that “achieving system-wide equity of participation and achievement is at the heart of our investment approach”
processes for additional funding requests and new providers.
The SPG also gives you more detail about two Unified Funding System (UFS) funding components and how to access this funding:
Strategic component: The Private Training Establishment (PTE) Strategic Fund is a key part of the strategic component of the UFS. Strategic component funding for PTEs is off-Plan (not determined by your Investment Plan) but applications need to be submitted at the same time, by 7 July 2023.
Learner component: More providers will be a part of the Learner Component Performance Element (LCPE) in 2024. The LCPE approach requires providers to meet agreed performance expectations. Performance expectation requirements will depend on your Plan status and amount of learner component funding.
For full details on these changes and others: Supplementary Plan Guidance for 2024 (PDF 1.8 MB)
For any questions on the SPG, please contact your Relationship Manager, phone us on 0800 601 301 or email customerservice@tec.govt.nz.
