Colleges rather than students should carry the blame for the blowout in vocational diploma loans, senators say, with an inquiry calling for more limitations and regulatory crackdowns on the oversubscribed VET Fee-Help (VFH) scheme.
The main issues appear to be:
“¢ Marketing practices used by RTOs in regards to VET FEE-HELP
“¢ The huge fee’s RTOs are charging relying on students taking up their offer to “study now, pay later”
“¢ Students not being aware of what they are signing themselves up for e.g. a loan fee rate of 20
“¢ A market targeted to enrol in expensive courses that may not have great employment prospects
Anyone considering enrolling in a course need to comprehensively research the qualification they are interested in. Choosing a course should be based on:
“¢ course quality (including; academic faculty and learning materials/resources)
“¢ flexibility and support and then cost!
Affordable learning is still available. Australian College for example offer payment plans to assist potential learners without hitting them with a huge interest fees and without accruing a huge debt from an overpriced course.
(see our related blogs: VET FEE Help exposed and/or VET FEE Help: Friend or Foe)
Blitz on training colleges after “˜rampant abuse’
Slug colleges for loans blowout
What is VET FEE-Help? The information people really need to know!
salespeople accused – ABC News
only 1 in 3 RTOs compliant – ABC News
class action against college – ABC News