Anyone can apply for their own gTLD. https://en.wikipedia.org/wiki/Generic_top-level_domain
Interestingly, one of the major promoters of gTLDs is https://en.wikipedia.org/wiki/Melbourne_IT a neighbor of RMIT
Using that student tuition fee wisely. (ICANN's website confirms this is still the initial cost + deposit, and more fees can pile on)
Anyone can apply for their own gTLD. https://en.wikipedia.org/wiki/Generic_top-level_domain
Interestingly, one of the major promoters of gTLDs is https://en.wikipedia.org/wiki/Melbourne_IT a neighbor of RMIT