University funding is a complex and continuing evolving landscape in Australia. This is largely due to significant changes in government polices over the last 40 to 50 years. With the release of the Australian Universities Accord Final Report in early 2024, more changes are likely in the years to come.
Like most Australian universities, funding at the University of Tasmania currently comes from the following sources:
Teaching-related revenue provides the majority of funding, with the following sources:
- Australian Government financial assistance - Through the Commonwealth Grant Scheme (CGS), the Australian Government provides funding to subsidise tuition for students enrolled in a Commonwealth Supported Place (CSP).
- Student fees and charges:
- Student contribution amount (SCA): the fee payable by students enrolled in a Commonwealth Supported Place (CSP)
- Fee-paying overseas students: international students paying tuition fees upfront, studying onshore in Australia
- Fee-paying domestic students: domestic students paying tuition fees with no government subsidy (e.g. MBA students)
- Transnational education: international students studying University of Tasmania courses at overseas partner campuses
- Higher Degree by Research students: postgraduate research students - government funding for domestic students and tuition fees for international students.
- Students studying via a Commonwealth Supported Place can defer their student contribution amount through the HECS-HELP (Higher Education Contribution Scheme – Higher Education Loan Program)
- Fee-paying domestic students can also defer their fees through FEE-HELP, a program that works in a similar way to HECS
Research funding is provided through competitive funding schemes and other external sources. External funding may be granted via different pathways, including a research contract, tenders, a negotiated direct offer of funding, a consultancy, a donation towards a specific research project, or a post-graduate scholarship or industry fellowship. These do not cover the full cost of research, with the remainder being cross-subsidised by other revenue sources.
The government provides research funding (through what are known as research block grants) to eligible Australian higher education providers annually, to support the systemic costs of research and research training costs. These funds are awarded based on the relative performance of each university in attracting research income and supporting students to complete higher degrees by research.
Philanthropic support comes through donations from individuals and organisations keen to support the University’s mission whether that is in supporting transformational research or making a tangible difference in a student’s life through a scholarship. These relationships are managed by our Advancement office.
Investment
Our investment funds include philanthropic funds, cash held for research and other preserved purposes and University reserves generated over time. The investment fund is established for long-term investment and to generate income to fulfil the specific objectives of endowed funds, deliver on our mission to make a difference for Tasmania and from Tasmania to the world, and support our financial sustainability.
The University’s investment funds are governed by our Treasury and Investment Policy.
This policy reflects our commitment to a zero-carbon future, the energy transition critical to achieving this, and support for the University’s mission consistent with its environmental, social and governance commitments while maintaining an overriding focus on preserving and growing the real value of investment funds.
Stewardship of our investment funds is overseen by two advisory panels:
- Operational Investment Advisory Panel
- Oversees investment portfolio performance, management, and decision-making, including implementation of the responsible investment strategy as part of the investment decision process. The panel consists of both internal and external representatives.
- Strategic Investment Advisory Panel
- With a broad membership (including academic and student representation), provides advice on investment policy and strategy to align with our mission and overarching objectives.
Student Services and Amenities Fee (SSAF)
The Student Services and Amenities Fee is a compulsory fee charged to students for the provision of student services of a non-academic nature. Important decisions about how funds raised through the Student Services and Amenities Fee are allocated are made in consultation with students, including elected student representatives from the Tasmanian University Student Association.
Other non-course fees and charges
Revenue is received from other fees and charges from services such as accommodation and amenities provided to students.
Commercialisation income
Commercialisation income is generated through the translation of research outputs and intellectual property into commercial ventures. Aligned to our mission to make a difference from Tasmania to the world, these ventures help us achieve even greater impact, while offering a source of additional income. To support this activity, the University has formed InVent (Innovation Ventures).