The federal government will help pay for 2,000 scholarships for indigenous students to attend some of Australia's top secondary schools.
Prime Minister Kevin Rudd today announced the government would give the Australia Indigenous Education Foundation $20 million over the next three years, a contribution to be matched by business.
The money will be invested in an endowment fund and combined with investment revenues to pay for up to 2,000 scholarships over the next 20 years.
The six-year scholarships will cover tuition and boarding fees as well as other expenses families might not be able to meet, including uniforms and sporting equipment.
The government said the scheme would give indigenous students the life-changing opportunity to attend a high-quality capital city secondary school.
The government hopes the funding will help halve the gap in reading, writing and numeracy achievements between indigenous and non-indigenous students.