The Minister for Education and Training, Senator Simon Birmingham announced on October 5 that the federal government will shut down the failed VET FEE-HELP scheme.
The scheme, which has been comprehensively rorted by private for-profit providers, will be replaced with a new more tightly regulated and capped loans scheme.
The government will prohibit the use of brokers to recruit students and place greater emphasis on students actually completing courses.
National President of the NTEU Jeannie Rea said: βGiven the complete and utter failure of the regulation and funding of VET in recent years, the NTEU is not surprised the Minister has come around to our view that education is far too important to be left to the market.β
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