Government funding of VET 2020

Government funding

In 2020, government funding provided through VET appropriations and VET intergovernmental funding arrangements totalled $7.7 billion, an increase in nominal terms of $1.3 billion (20.8%) from 2019.

• the Australian Government provided $3.8 billion, an increase of $1.2 billion (44.7%)
• state and territory governments provided $3.9 billion, an increase of $142.3 million (3.8%).

In addition, the Australian Government provided:

• $273.4 million for VET Student Loans (including VET FEE-HELP grandfathering), a decrease of $2.6 million (0.9%)
• $199.3 million for Trade Support Loans, a decrease of $23.1 million (10.4%).

Funding distributions

In 2020, VET funding distributed totalled $7.5 billion, an increase in nominal terms of $1.1 billion (17.5%) from 2019.

Funding distributed across VET activities included:

• $5.0 billion for direct VET delivery, an increase of $113.1 million (2.3%)
• $1.5 billion for employer assistance to engage in VET, an increase of $854.9 million (142.9%)
• $128.4 million for student assistance for equipment, travel and other costs, a decrease of $20.8 million (13.9%)
• $323.7 million for capital investment, an increase of $143.0 million (79.1%)
• $581.5 million for system administration and governance, an increase of $29.9 million (5.4%).