The federal government is considering an audit of training providers to crack down on rorting of the $1.6 billion VET FEE-HELP loans scheme by inflating course fees.
Evidence recently emerged of pricing disparity between fee-for-service and VET FEE HELP courses offered by a number of RTOs (Registered Training Organisations) in the country.
Taxpayers are having to fork out up to 400 per cent premiums to foot the bill to training companies with government loans, with many of them never being repaid.
Since the deregulation of the VET FEE-HELP scheme, we’ve seen a huge increase in for-profit, private education providers as well as a decline in quality across the industry. Completion rates for students are terrible with around 7 per cent completing their course.