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MonitoringReport2005 Affordability of Tertiary Education ← Research within the Tertiary Education Sector | Home Page | Tertiary Education Organisations → Affordability to governmentIn 2004/05, the government spent $2,721 million on tertiary education, down by 0.9 percent on the 2003/04 actual spending of $2,745 million. In addition, the government provided $979 million in capital contributions in 2004/051, bringing the total budget for that year to $3,700 million.  Total government operating spending on tertiary education in the year to 30 June 1999/00–2004/05 Note: Capital contributions are excluded. The biggest share of total government expenditure continues to be on tuition subsidies, which accounted for 47 percent of the total budget in 2003/04. Employer contributions to industry trainingIndustries contributed at least $53.6 million in 2005 to the costs of industry training, up from $38.2 million in 2002. Industry contributions made up around 30 percent of accounted costs. Government contributed an estimated $127.6 million in 2005, up from $90.6 million in 2002. 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 2004. 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 fees at public providers to average weekly income 1997–2004 Sources: Ministry of Education and Statistics New Zealand, New Zealand Income Survey Fees peaked in real terms in 2000, and have since declined significantly as a result of fee stabilisation policies. In 2004, universities had the highest average fees, followed by colleges of education. The average fee at wānanga remained 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 2004 was $6,258, down slightly on 2003. 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 1997–2004 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 | Tertiary Education Organisations → Page last modified on 26 November 2006, at 06:29 PM |
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