The expansion of Equity funding for 2022 signals the increased focus Government funding will have on supporting learners as the Reform of Vocational Education changes embed. It also aligns with the objectives and priorities of the Tertiary Education Strategy (TES).
I am eligible for Equity funding for the first time, what do I need to do?
Most TEOs do not need to provide any additional information to TEC prior to receiving Equity funding. TEOs should complete and submit their SDRs or data through the ITR as usual.
We do expect TEOs:
- to actively consider how they will use this funding to supplement other investments to ensure the success of all learners
- to include these plans in their normal Investment Plan round documentation, including Learner Success Plans
- be prepared to discuss their approach with their RMI/RA.
- TEOs receiving equity funding under the disabilities component may be expected to submit a report on how the funding has been used; the report will be uploaded to the TEO’s Workspace 2 for completion.
Providers will not be eligible to receive Equity funding if they receive a final 2022 zero allocation in SAC Level 1-2, SAC Level 3 and above, or Industry Training funding.
If you are a new provider in 2022, and receive SAC Level 1-2, SAC 3+, or Industry Training Funding we will use your 2022 August delivery data to calculate your 2022 Equity Funding allocation (in early September 2022). You will receive your Equity payments monthly, if there are any adjustments required these will be calculated through the December data returns.
If you have any questions regarding your TEOs eligibility for Equity funding for 2022, please contact our Customer Contact Group on 0800 601 301 or email email@example.com.