Summary

Part of a package of three bills to implement a tuition protection model for students participating in the VET Student Loans program and for higher education students accessing FEE-HELP or HECS-HELP assistance at a private education provider or TAFE, the bill amends the:

and to: provide for the administration of each sector by a Tuition Protection Director with specific functions; provide for each sector to be supported by a separate Tuition Protection Fund Advisory Board; require non-exempt providers to contribute annual levies, commensurate with their size and risk; establish two special accounts (the VET Student Loans Tuition Protection Fund and the HELP Tuition Protection Fund); provide assistance to students who may complete their studies with another provider or may have their loan balance re-credited for units of study commenced but not completed due to the provider’s default; and impose certain obligations on default providers and replacement providers; to enable the secretary to refuse to revoke an approval on request if certain compliance action is being taken; and to make consequential amendments.