Universities Australia has called on the Government to boost funding to the sector, ahead of the May budget announcement tomorrow.
According to a study commissioned by Universities Australia and conducted by KPMG, an $11 billion boost to higher education funding by 2040 would generate an additional $137.8 billion in gross domestic product, including an extra $1.5 billion in export income from international student fees.
The study supports the recommendations of the Bradley review, to which the Government has pledged will be included in the budget.
Universities Australia said that a boost to higher education funding would boost the economy, mainly through the labour force and productivity improvements that flowed from higher graduation rates.
The study has also recommended private funding to extend student loans, and public-private partnerships in research funding.