To better address the national and regional skills priorities along with encouraging education providers to plan and execute work-based training for more learners and employers, the New Zealand Cabinet has approved the high-level design of a new single unified funding system (UFS) for vocational education and training in December 2021.
This system will unite the funding for providers who cater level 3-7 non-degree courses for all vocational education and training. The transition to the new system which is considered as an essential element of the Reform of Vocational Education (RoVE) will start from January 2023.
The TEC will provide each UFS-qualified TEOs with the 2021 UFS qualifications and programmes, together with the UFS modes breakdown for each qualification/programme. For 2023 allocation, the funding rates will be released in April 2022. TEC is planning to work closely with the sector to refine and confirm the changes required to implement the UFS from 2023.
Qualification Development Fund
Qualification Development Fund is open to apply for Qualification developers till 5 pm, Friday 18 February 2022. This funding will cover costs incurred while developing and reviewing New Zealand qualifications. For 2022, funding is also available for the development of micro-credentials at any level. The qualifications must be at levels 1 to 6 of the New Zealand Qualifications Framework (NZQF), and reflect industry and community needs to be eligible for this funding. Micro-credentials can be at any level on the NZQF but must meet the NZQA micro-credential definition.