The Australian Postgraduate Awards (APA), funded by the Australian Federal Government, are designed to support postgraduate research training and are awarded to students of "exceptional research potential". The allocation each tertiary institution receives is based in part on its overall research performance.
The grant of the award is very competitive and is generally based on the student achieving a minimum of first class honours or equivalent.
In 2013 a full-time APA recipient receives a stipend of A$24,653, and a part-time student A$12,326. As a scholarship this is tax-free, and it is indexed annually. The stipend is provided for two years for a masters student, and three years for a PhD student, with a possibility of a six-month extension.