The Education Investment Fund (EIF) is an $11 billion fund announced in the 2008-09 Budget. The EIF will include $5 billion from the 2007-08 and 2008-09 Budget surpluses, plus $6 billion from absorbing the Higher Education Endowment Fund.
The key priorities of the EIF will be capital expenditure and renewal and refurbishment in universities and vocational institutions, as well as in research facilities and major research institutions.