Students are expected to pay $1.5 million to study at a new dormitory at the University of Melbourne.
The $1 million dorm is part of a $7.2 million refurbishment of the main dormitory, which was built in 1965.
The refurbishment is part, the university said, of its commitment to increasing affordability and accessibility of education at the university.
“We are investing $1M of our own money to make it affordable for students and to make sure that it is accessible to all,” University of Queensland president Peter Fauve said in a statement.
“We also want to make a difference to the lives of our students through the work we are doing on a campus that is home to some of the world’s best teaching, research and scholarship.”
“We will work hard to make the new dorm as accessible and affordable as possible to students, staff and the broader community.”
The University of New South Wales and the University, of Tasmania have both invested in the refurbishment, and will each receive $500,000.
The university also announced a $1-million gift to the Australian Research Council (ARC) to be used to improve its research infrastructure.
In total, the refurbished dorm will be used by about 5,000 students, with most students staying there for six months or more.
A spokeswoman for the university, which will house about 20,000 people, said students will be able to stay in the dorms for four months.
“Students will be paid for their stay at the new facility, which is designed to offer a warm, comfortable, well-lit, and well-connected environment,” she said.
It is the first refurbishment at the main campus, which opened in March last year.
This is the second year the university has refurbished the dormitory.
In 2016, it received a $2 million upgrade.
More to come.