What is the current funding model for Commonwealth Supported Places?
The table below shows a breakdown of the current level of funding that eligible universities receive for CSPs for different discipline clusters. The level of funding a university receives for each full time equivalent student:
- Is comprised of two components; the Commonwealth Contribution funded through the Commonwealth Grants Scheme (CGS) and the Student Contribution amount administered through the Higher Education Contribution Scheme (HECS).
- Varies significantly between disciplines; from $10,415 for humanities students to $28,622 for medicine, vet science and dentistry students.
- Differs significantly in terms of the relative contribution students make to the cost of their education; from 23% for science students to 84% for law, economics and commerce students.
Additionally, the following loadings are also paid to universities:
- Regional loadings paid at various rates (from 2.5% to 30%) depending on the size of the institution and its distance from the nearest mainland capital. Regional loadings were reviewed in 2010, the outcomes of which have yet to be announced.
- Low SES loadings, estimated to be approximately $1,500 per low SES student by 2012.