EPIC

Education performance indicator commitment (EPIC).  A group of performance indicators that give a view of how well tertiary providers are helping their students to achieve.

EPIs

Education performance indicators that give a view of how well tertiary providers are helping their students to achieve.

Equity Funding

Equivalent full-time student (EFTS)

One EFTS unit is defined as the learner workload in a single academic year (12-month period) by a learner enrolled full-time. Usually is 120 credits on the New Zealand Qualifications and Credentials Framework (NZQCF).

ESAA

Education Sector Authentication and Authorisation.  An identity management, authentication, authorisation and single sign-on service for the education sector.

Executive Leadership Team (ELT)

The Senior Management Team includes the Chief Executive, the Deputy Chief Executives and the Chief Advisor Māori (first and second tier managers).

FAL

Final approval letter.  A letter to the TEO that sets out the terms and conditions on which funding is provided in accordance with a funding mechanism.

Fees-free

The Fees-Free Tertiary Education and Training policy was introduced in January 2018. It makes the equivalent of one year tertiary study or training fees-free for new students and trainees.

Financial Monitoring Framework

The Financial Monitoring Framework (FMF) provides an initial assessment of the financial wellbeing of a TEI or TEO.

Financial performance monitoring

The Tertiary Education Commission is required to monitor tertiary education organisations (TEOs) which receive funding from the TEC.