Seriously, is the government retarded. Put a stop to this. It tax payers money as so many of these so called 'students' will never pay the loan back as they'll never earn more than $54k.
It's such a simple fix too:
1) cap the vet loan to $25k.that way you avoid people who study for a living. If you want to do a 2nd, 3rd course, then you'll have to reduce your vet balance to be within the $25k threshold.
2) escrow the payment of the $18k to the university. They should get $1k upon successful application, $2k after the first or second test/project/assessment the student has to do. If the student fails, then they don't get this payment. This will stop sign ups of people who clearly won't attend or won't pass.
3) $4k on successful completion of half the course.
4) $4k on successful completion of the course and
5) $4k once the student makes their first payroll deducted payment again the loan. This again will ensure tax payers aren't forking out money to students who never end up using it to find work.
Pretty freaking easy to fix.i wrote about similar strategies a year ago as this route has been bloody obvious for ages.
Training centres providing substandard training should be closed out of the vet program. Sales companies using tactics as per the article should be liquidated by the government and together with the training providers be forced to payback all payments where the course has not been successfully completed by the student.
Any sales people using illegal tactics without a citizenship should not have their visa renewed.
Bloody simple.
VET Price at posting:
12.0¢ Sentiment: None Disclosure: Not Held
