More help for struggling Vic students

Parents' occupations and education levels will determine how much money Victorian schools receive under a new government funding model.

Currently, funding for disadvantaged schools is based on the occupation of parents but under a $747 million investment to lift the levels of reading, maths and science across the state, parents education will also be considered.

Premier Daniel Andrews and Education Minister James Merlino announced the new model at Wellington Secondary College in Mulgrave on Monday.

Ambitious targets will also be set to ensure students are prepared for life after school, including a 33 per cent increase in scientific literacy and halving the number of students who leave school before completing Year 12.

"More of the same will mean Victoria goes backwards," Mr Merlino said.

"Over the last decade our outcomes across the board have stalled so we have to do something different."

The money will be rolled out over four years but schools will begin to receive funding from 2016.

The budgeted but previously unassigned funding will also include programs targeting kids who need extra help in class, training teachers on the new Victorian curriculum - which includes new mandatory subjects like digital coding and respectful relationships.

Australian Education Union Victorian branch president Meredith Peace welcomed the new model.

"I think what is positive is that they're looking at the education of the whole child," she said.

Opposition leader Matthew Guy said government is rebranding old funding and questioned the timing.

"There is an ongoing review of the education system being undertaken by Steve Bracks at the moment. I would hope that it is a serious one given the government is making major announcements before it is complete," he said.

"What state school parents want is real funding and real outcomes."