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MonitoringReport2004 Affordability of Tertiary Education ← Research Within the Tertiary Education Sector | Home Page | Raise Foundation Skills So That All People Can Participate in Our Knowledge Society → Affordability to governmentIn 2003/04, the government spent $2,701 million on tertiary education, up by 7.2 percent on the 2002/03 actual spending of $2,519 million. In addition, the government provided $1,020 million in capital contributions in 2003/041, bringing the total budget for that year to $3,721 million.  Total government operating spending on tertiary education in the year to 30 June 1999/00–2003/04 Note: Capital contributions are excluded. The biggest share of total government expenditure continues to be on tuition subsidies, which accounted for 48 percent of the total budget in 2003/04. Affordability to studentsThe graph below shows the ratio of the average fee for a domestic student at a TEI to the average weekly wage over the period 1997 to 2003. In effect, this ratio calculates, for someone with average income, how many weeks of gross earnings it would take to cover the average fee charged by a TEI.  Ratio of average domestic student fee at public providers to average weekly income 1997–2003 Fees peaked in real terms in 2000, and have since declined significantly as a result of fee stabilisation policies. In 2003, universities had the highest average fees, followed by colleges of education. The average fee at wānanga was very low. This is due to the large number of enrolments in zero-fee courses in this sub-sector. The average amount borrowed under the Student Loan Scheme in 2003 was $6,316. This amount has not risen significantly since 2000. This figure includes borrowing for study in PTEs as well as in TEIs. Average loan balances have grown since 2002. This growth reflects the development of the loan scheme, with more people borrowing over a longer period of time, rather than increases in the cost of tertiary education.  Average amount of student loans borrowed each year and average loan balance as at 30 June the following year 1997–2003 Sources: Inland Revenue and Ministry of Social Development 1 The majority, but not all, of this allocation is for student loans. (↑) ← Research Within the Tertiary Education Sector | Home Page | Raise Foundation Skills So That All People Can Participate in Our Knowledge Society → Page last modified on 26 November 2006, at 06:29 PM |
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