3 December 2014
Over the last two years the TEC has worked with sector representatives to greatly reduce and simplify the funding conditions and information published on our website.
We have aimed to better articulate funding conditions (i.e. where funding could be recovered if the conditions are not met) from other information which is intended to provide guidance.
A key change for 2015 is improved Student Achievement Component (SAC) funding conditions and information. This will replace the SAC and enrolment ‘rules and conditions’ currently on our website.
We have also developed funding conditions that reflect each SAC funding mechanism because the requirements are in some instances slightly different:
- SAC at New Zealand Qualification Framework (NZQF) level 3 and above;
- SAC at levels 1 and 2 – Competitively allocated; and
- SAC at levels 1 and 2 – Plan allocated.
Your organisation will receive a Plan funding approval letter for 2015 soon, which will have funding conditions attached.
RealMe online identity verification service
Tertiary Education Organisations (TEOs) now have the option to use the Department of Internal Affairs RealMe online identity verification service to verify student identity during enrolment. Kiwibank are the commercial partner for RealMe services. For more information about how to get started using RealMe, please email John Keene at John.firstname.lastname@example.org or phone 04 382 3464.
Equity funding - students with disabilities report
At December’s scheduled representatives meetings with each sub-sector we will be talking about broadening the reporting requirements for equity funding for students with disabilities in 2015. This will be an opportunity for you to give your input.
If you have any questions about this update, please contact your Investment Manager.
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