The present study investigated rural residents' perceived importance of university presence in rural, regional and remote Australia. The present data indicate that the presence of university in rural areas is perceived as highly important by both rural and urban citizens. Results indicate that rural residents perceive that there is a need for universities in rural areas, particularly so that rural youth can further their education while remaining in country Australia. The benefits for greater university presence in rural areas extend to increased community capital, greater retention of youth in rural areas, and greater equity between rural and urban spaces. (Contains 1 table.)