Marise Payne (NSW, Liberal Party, Minister for Human Services) Share this | Hansard source

I thank Senator Back very much for the question and for his extensive interest in this particular area of policy. The government is clearly of the view that every Australian will have better opportunities in life if they can gain the skills and knowledge that equip them best for the career that they want. That is why we are committed to expanding opportunities for Australians, which this higher education reform package and other associated measures will do. For the first time ever, all Australian undergraduate students in registered higher education institutions will be supported for all accredited courses, from higher education diplomas to advanced diplomas, associate degrees and bachelor degrees. This is going to support Australian students in choosing the course that is right and best for them.

As I have previously said to the chamber, this means that over 80,000 additional students a year will be supported by the Commonwealth by 2018 as a result of these reforms. In fact, the private returns that students receive from higher education have been written about in a number of places, not least of which was the book Battlers and Billionaires by Dr Andrew Leigh, the shadow assistant treasurer. I want to quote very briefly from that book. It says:

It's easy to see why education is the great equaliser when we look at individual benefit.

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Compared with someone who finished Year 12 but has no post-school qualifications, a diploma boosts earnings by nearly 20 per cent, while a bachelor’s degree boosts earnings …equating to more than a million dollars over a lifetime).

Higher education will often be the best investment that a person can make in themselves and, most importantly, in their future. We welcome the opportunity to work with this new Senate to increase opportunities for all Australians in this area.