Australia announces on Tuesday a funding of more than 433 million dollars (395.58 billion U.S. dollars) that helps students from low socioeconomic backgrounds.

Deputy Prime Minister, Minister of Education, Minister for Employment and Workplace Relations, Minister for Social Inclusion Juliao Gillard said Universities will receive around 540 dollars (493.24 U.S. dollars) per eligible student in 2010, and is expected to be 1,400 dollars (1,278.77 U.S. dollars) in 2013, depending on the enrollments. There will also be a 42 million dollars (38.37 million U.S. dollars) as an incentive to enroll more students from low socio-economic backgrounds.

Minister Gillard released the Measuring the Socio-economic Status of Higher Education Students discussion paper on defining and measuring socio-economic status of students, which The Bradley Review of Australian Higher Education recommended as well.

The current Australian Government is committed to see 20 percent of all Australian undergraduates to be from low socio-economic backgrounds by 2020 and 40 percent of 25 to 34-year-olds with bachelor level qualification or above, by 2025.

Source: Xinhua