For the full Fund requirements, see the Equity funding conditions for the relevant year.

Funding mechanism

The Minister responsible for tertiary education issues the Equity funding mechanism. It sets out the purpose of the fund and gives authority to the Tertiary Education Commission (TEC) to administer the funding.

Funding is agreed through each tertiary education organisation’s (TEO’s) Investment Plan. For more information see Plan Guidance and Toolkit.

A TEO that receives Equity funding is required to:

• comply with the requirements of the Education and Training Act 2020, and
• comply with the funding conditions for the relevant year specified in its funding approval documentation.

The overall amount of Equity funding available is set through the Government’s annual budget process. We determine the appropriate amount of Equity funding for a TEO through the annual investment process and in-year additional funding requests (if available).

Funding allocation and payments

Funding allocations, including any amendments, are available through the My Allocations and Payments app on Ngā Kete.

Equity funding is paid in equal monthly instalments.

For the calculation of indicative allocations see the methodology from the relevant year. The most recent information is at the top.

For more details regarding your specific allocation, please contact customerservice@tec.govt.nz or your Relationship Manager.

Funding wash-ups

For the calculation of funding wash-ups see the methodology and technical specifications from the relevant year. The most recent information is at the top.