Think: Colleges students have protection for their tuition fees through the Tuition Protection Service. The Tuition Protection Service (TPS) is an initiative of the Australian Government to assist:
International students
Eligible domestic students accessing a FEE-HELP or HECS-HELP (HELP) or VET Student Loan (VSL), and
Domestic higher education students who pay their fees directly to their provider, and
Whose education providers are unable to fully deliver their course of study.
The TPS ensures that these students are able to either:
Complete their studies in another course or with another education provider or
Receive a refund of their unspent tuition fees (international students and prepaid HE students) or a re-credit of their loan for open units of study (VSL and HELP).
For further information, please access the TPS webpage.
For student category (VET domestic upfront paying student) that is not covered by TPS, Think: Colleges maintains an adequate amount of restricted cash in Fee Protection Trust Account with reputable financial institution. Annual assessment is performed to ensure the restricted cash amount is at a satisfactory level.