If you think that a mortgage is a millstone around your neck, you should check out VET FEE help!
WAKE up before its too late!!
In a press release today the Australian reported that the number of vocational and education students accessing VET FEE help to pay their course fees has risen over 2,000% over the past four years!!
The reason for the massive explosion in students accessing this form of fee payment has been the promotion of VET FEE help as something that the student need not worry about paying now…. but worry about paying it off later.
Students are sucked into thinking that the course will not cost them with the actual course fee almost disguised. It seems almost too good to be true… and it is!
Little do they know that course providers that do offer VET FEE help also charge the highest course fees, as it is in their best interest to have their students commit to VET FEE help as this will increase their profit margin.
It was reported that the number of VET FEE help students has risen from 5,000 in 2019 to 100,000 in 2013! The number of private colleges using this form of payment has exploded from 7 in 2008 to 247 in 2013.
The report scathingly stated: “But far from getting a free ride, most students are the victims of a scheme that has raised fees, curbed choice and damaged training quality”.
Further to this: “Students not eligible for an entitlement place are vulnerable to increasingly high fees, which in many cases is not capped. And without implicit quality control of credit transfer arrangements, students have been lured by zero upfront fees and incentives such as free ipads etc”.
To protect yourself if you are thinking of using VET FEE help to pay your course costs compare the course fess of private colleges who have decided NOT to exploit the VET FEE help system.
Compare a college that does not offer VET FEE help and charges a course fee of $3,000 for a Diploma course. Most of these colleges will assist the student by offering an attractive “pay as your learn payment” system (sometimes over 12 months), that in most cases is interest free.
Then we have the VET FEE help college that charges $10,000 for exactly the same course, with no up front fees by the student, but who now has a debt that they will be required to be paid back. This debt can rise with the current CPI levels to amounts that can double their initial course fee.
When comparing prices and course fees do your due diligence and don’t get caught with massive debt that might take years to pay off.
Dr Paul Batman
Australian College
