New Zealand has an excellent system to protect the monies of international students. All fees paid by the students go directly to the Public Trust account, as required by NZQA (New Zealand Qualification Authority). The Academy provides students with a fortnightly / monthly account statement based on their progress. Students have to verify if the account statement is correct and sign on the account form (called the ‘milestone form’). This form is then sent to Public Trust, who will release the funds to the Academy.
In the event of the Academy closing down and being unable to deliver the program, students will have the option to withdraw all the unused funds from the Public Trust and return to their home country or transfer to another provider to continue their studies.
Never will a situation arise wherein the student loses his/her fee, similar to what happens in other countries.