The vice chancellor of a university near Christchurch says Government plans to help fund struggling tertiary providers in Canterbury are a confidence-booster.
The Government agreed in principle on Thursday to financially help three struggling tertiary providers in Canterbury.
Following advice from the Treasury and the Tertiary Education Commission, the Cabinet agreed to provide capital to Canterbury University, Lincoln University and the Christchurch Polytechnic Institute of Technology.
Tertiary Education Minister Steven Joyce says the in-principle commitment has been based on business cases from the three institutions.
He says the funding is likely to be in the tens of millions of dollars.
Mr Joyce says final decisions over the amount of Crown investment will be made after each of the institutions submit a more detailed project business case next year.
Lincoln University's vice chancellor, Dr Andrew West, says it's a confidence-booster for the future.
Canterbury University says that it is looking for optimum levels of financial support from the Government.
Canterbury University Vice-Chancellor Rod Carr says this urgent action is needed to ensure the university remains financially viable in the medium to long-term.
The government doesn't yet know how much funding each provider will receive.