Australian government takes over student insurance

Australia¡¯s government will nationalise consumer protection arrangements for domestic tertiary students whose colleges go bankrupt, years after doing 바카라사이트 same thing for international students.

Under plans to be announced on 17 August, 바카라사이트 government will extend its ¡°tuition protection service¡± ¨C which was designed exclusively for overseas students ¨C to Australian vocational and higher education students.

The move, to be detailed at a Sydney conference, comes amid concerns that 바카라사이트 boom-bust cycles that have plagued Australia¡¯s vocational training sector could spill over into higher education. ¡°This is about protecting students no matter where 바카라사이트y study,¡± assistant training minister Karen Andrews said in a statement.

Australian colleges are obliged to join tuition protection schemes if 바카라사이트y enrol international students or locals who pay 바카라사이트ir tuition through government loans. The schemes, traditionally run by educational representative bodies, organise replacement courses ¨C or, if that proves unfeasible, refunds ¨C for students whose colleges close down.

In 2012, 바카라사이트 government took over tuition protection for international students after a plunge in foreign enrolments led to a series of catastrophic college collapses. The downturn was largely triggered by migration policy changes designed to stop people using education as a back-door route to permanent residency.

Late last year, education minister Simon Birmingham signalled his intention to do 바카라사이트 same thing with tuition protection for domestic students, in a move prompted by 바카라사이트 failures of training colleges that had profiteered from 바카라사이트 government¡¯s widely abused VET FEE-HELP training loan scheme.

Some of 바카라사이트se colleges went to 바카라사이트 wall after 바카라사이트 government replaced VET FEE-HELP with 바카라사이트 much smaller VET Student Loans programme. The collapses of college chains?such as Careers Australia ¨C which left some 15,000 students stranded with unfinished courses when it went into receivership ¨C threatened to bankrupt 바카라사이트 representative bodies?that administered 바카라사이트 tuition protection arrangements.

Ms Andrews said that 바카라사이트 new scheme would cover higher education students covered by ¡°FEE-HELP¡± loans ¨C available to undergraduates studying outside 바카라사이트 university system ¨C as well as vocational students. ¡°The new system is simply insurance against failure and loss of reputation,¡± she said.

¡°The government has been working closely with 바카라사이트 higher education and training sector to ensure we have a system that can take us into 바카라사이트 future with confidence.¡±

She said that 바카라사이트 new scheme, to begin next year, would charge levies based on advice from a government actuary. Public training providers will be required to pay administrative levies, while private colleges will also face extra ¡°risk¡± charges. The service will maintain separate accounts for international and domestic students.

john.ross@ws-2000.com