The issue of school funding has been controversial since the Gonski review handed down its findings in 2012 and since then, it's been hard to keep up with the promises made from both sides of politics.

ABC Fact Check presents a timeline of major developments and promises.

February 20, 2012: Gonski review is handed down

David Gonski speaks at the release of the Gonski report in Canberra on February 20, 2012. ( AAP: Alan Porritt )

The final report of the Review of Funding for Schooling by an expert panel chaired by Sydney businessman David Gonski, recommends a new approach to funding to ensure differences in educational outcomes are not the result of differences in wealth, income, power or possession.

The report, released by the then education minister Julia Gillard, recommended needs-based funding for each school student, with additional loading for disadvantaged students.

April 14, 2013: Gillard announces $14.5b and a new funding model

Sorry, this video has expired 14.5 billion in funding for schools

April 14: Pyne labels Labor reform a 'con'

Sorry, this video has expired The Opposition says the Government's education funding plan is a con.

April 23: NSW signs up to the Gonski model

Page 25 of the National Education Reform Agreement shows NSW Premier Barry O'Farrell's signature on April 23, 2013.

NSW Premier Barry O'Farrell signs an agreement to give NSW schools about $5 billion extra funding over six years from 2014, with 65 per cent contributed by the federal government and 35 per cent by the NSW government.

May 30: ACT signs up

ACT Chief Minister Katy Gallagher signs an agreement to give ACT schools $190 million in extra funding for six years from 2014. The federal government committed to increasing its spending by 4.7 per cent a year from 2014 and the ACT committed to increasing its spending by 3 per cent a year from 2015.

June 14: South Australia signs up

SA Premier Jay Weatherill signs an agreement to give $1.1 billion in extra funding to South Australian schools for six years from 2014.

June 23: Catholic systemic schools sign up

The National Catholic Education Commission signs an agreement to give $1.6 billion in extra funding for the nation's 1,650 Catholic systemic schools for six years from 2014.

June 26: Australian Education Act 2013 is passed

During the final sitting days of the last parliament, the Australian Education Act 2013 is passed. The Act provides authority for Australian government funding for schools, funding accountability obligations and outlines the details of the National Plan for School Improvement.

July 9: Tasmania signs up

Tasmanian Premier Lara Giddings says Tasmanian schools will receive an extra $380 million in funding over six years, commencing in 2014.

July 10: Independent schools sign up

The Independent Schools Council of Australia reaches an agreement for $625 million in additional federal funding to flow to independent schools around the country.

July 12: Pyne says current system is fairer

Space to play or pause, M to mute, left and right arrows to seek, up and down arrows for volume. Watch Duration: 15 minutes 46 seconds 15 m Christopher Pyne on Lateline

August 2: Coalition to 'honour Labor's agreements'

Sorry, this video has expired Abbott commits to matching Labor school funding

August 2: 'Dollar for dollar'

August 3: Victoria agrees to Gonski plan

Victoria agrees to the Gonksi plan and is tipped to receive an extra $6.8 billion in funding

August 4: Rudd calls federal election for September 7

August 4: 'We are absolutely the same on education'

Loading...

August 29: Coalition releases its education policy

Loading...

September 7: Coalition wins federal election

November 24: 'Back to the drawing board'

November 26: Pyne announces 'new school funding model'

Sorry, this video has expired Pyne accuses Labor of school funding 'shambles'

November 26: Coalition accused of 'broken promises'

Sorry, this video has expired Labor accuses Government of breaking election promise over education funding

November 26: O'Farrell outraged

New South Wales Premier Barry O'Farrell says he expects the Commonwealth to abide by the signed agreement reached on education funding.

November 27: Change in tune

Sorry, this video has expired Christopher Pyne gives a press conference in Adelaide

December 1: Coalition not backing down

Loading...

December 2: Shorten on the attack

Sorry, this video has expired Bill Shorten accuses the Government of breaking an election promise

December 2: Abbott, Pyne announce 'in principle' agreement with states

Mr Abbott and Mr Pyne announce an "in-principle" agreement with the remaining states and territories - Queensland, Western Australia and Northern Territory. The funding will total $1.2 billion over the four years and comes with "no strings attached".