Thousands of Students In Debt With Not a Diploma In Sight.

Global Intellectual Holdings has gone under, leaving thousands of students with massive debts to the Australian government and no accreditation to show for it.

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It’s no secret that the Australian Government’s Vocational Educational and Training (VET) Fee Help has some major issues that affect both students and government wallets.

However, this week those issues have once again become the source of major media scrutinization as Global Intellectual Holdings, a corporation that owns four vocational training colleges in Australia, has collapsed. The colleges affected are Aspire College of Education, The Design Works College of Design, the Australian Indigenous College, and RTO Services Group.

So Why Does This Matter?

Thousands of vocational training students, who have all paid tens of thousands of dollars in course fees, are now without classes to attend, diplomas to show for their work, and are not receiving their money back. Most of these students have used the VET Fee Help government loans to enroll, but because the government has already paid tuition on behalf of the students, those students are now in debt for an investment they’ll never see a return on.

All this is in addition to at least 500 administrators and teaching staff who are now out of a job.

How Did This Happen?

The government-funded VET Fee Help system allowed anyone, with no or few pre-requisites to sign up for training courses. Which is a fine idea. The issue is that companies like Global Intellectual Holdings were incentivizing enrollments by offering laptops, air tickets and other promotions for signing up.  Result potential students were queuing up around the block.

Companies like Global Intellectual Holdings have been signing up students and accepting VET Fee Help money on their behalf, with no regard to the ability or desire of students to complete the course and thus pay back the loan upon completion.

So when the government started adding stipulations that prohibited incentives and made the process more selective, Global Intellectual Holdings’ business model fell apart.

What Can Students Do Now?

The bottom line is that students still need these courses. In fact, with VET Fee Help loans to be paid back, they need these courses to skyrocket their current salaries or get them employed if they are unemployed more than ever.

The best solution is to look for Registered Training Organizations (RTOs) that have nearly 20x the average completion rate for students, and cost a fraction of the average RTO fee.

This is where National Training comes in. Our completion rate is much higher than average and our diploma fee, which can be paid in very manageable increments, is currently on special at $875 for an accredited diploma.

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Ian Oliver, CEO of National Training says, “We focus on a result for our students, at an affordable price. The students who have been left high and dry by this fallout and the students who will continue to be taken in by similar schemes need a solution, still need to complete their training, and, ultimately, need a job. National Training gives them options; we give them a way out.”

If you or someone you know has been affected by the fallout from VET Fee Help restrictions, contact National Training today. We’re here for our students.