Key projections for the university over the coming decade include increasing its student population by a third to 40,000, making it one of the top three regional universities in Australia.

It will be housed in campuses at Callaghan, Newcastle, Ourimbah, Port Macquarie, Sydney, Singapore, a new Hunter Medical Research Institute building and online.

The institution will exceed Federal Government targets for students from a low socio-economic background, extend its post-graduate course list and host the best engineering and health faculties in the country for its size.

By 2020, the university expects to have moved its business, law and creative arts faculties entirely to the Newcastle central business district and planning will be under way to move the education, humanities and social science disciplines in the city.

In the area of research, the university wants to move into the top eight for research funding. It wants to strengthen its links with industry, including those with Williamtown air base and Newcastle Port Corporation.

Vice-Chancellor Nicholas Saunders said the Federal Government's university agenda would help growth.

The Government wants 40 per cent of 25- to 34-year-olds to have an undergraduate degree by 2025.

"For us to play our part it does mean we have to increase availability of places quite significantly," he said.

Professor Saunders said he anticipated up to 4500 students and 500 staff working and studying at the expanded Newcastle campus by 2020 and other growth at the Central Coast campus and online.

"Our primary motivation is to strengthen the university," he said.

"It will also increase small business, it will help public transport and strengthen the retail sector.

"We're working hard to get our own plan in order."

Professor Saunders said the university had come a long way in the past five years.

"If you talk to people outside the Hunter, the University of Newcastle is seen as a great success story."

Students gave the university the thumbs up yesterday.

Third-year biomedical science student Sanja Stegis said staff were helpful and the student spaces were modern.

"They've actually done a lot even since I started. It's been totally revamped," she said.

Third-year drama student Carly Quinn said students were fun and friendly.

Chemistry honours student Lacey Hizartzidis said she would recommend the university to other students.