10 November 2015
Leading Educator and Strategist slams Government Funded Education rorts as yet another example of Government waste
The Vocational Education sector has grown massively since the Rudd Government expanded the Vet fee loan scheme nationally for all array of courses without any safeguards.
Vet Fee loans allow students to be funded upfront by the Government, which doesn’t have to be repaid until they earn over $53,000 approximately per annum, which is then deducted from their taxes. Last year 203,000 students borrowed $1.7 billion and the number will go up to $2.75billion this year.
Private Colleges have been getting paid up front for entire courses, which are often of poor quality where 4 out of 5 students drop out. Average course fees have risen from under $4000 in 2011 to $12,000 in 2015.
Jamie McIntyre, one of Australia’s leading educators, best selling author of What I Didn’t Learn at School but Wish I Had who also hosts large scale Financial Education Summits of over 6000 attendees with the likes of Sir Richard Branson and Arnold Schwarzenegger has been training and educating Australians for the last 18 years. According to McIntyre, what’s been going on is a total rort.
He said, “Not only is the education that’s being offered woeful, but also for the former Labor Government to allow private colleges to get paid upfront for courses most never complete is an outrageous waste of money.
“It’s important to up-skill workers to boost our productivity and efficiencies to better compete as a nation in a competitive global marketplace”.
According to McIntyre the changes should feature:
2. Government should only pay the funds in instalments to education providers to ensure it’s not paying for incomplete courses.
This one simple adjustment alone would have saved students and the government billions per annum.
This recommendation is now going to be actioned starting January 1st 2016.
3.The education needs to include content from those that possess a PhD in results and not just academic theory.
“At 21st Century Education we pride our education on not only being leading edge, but also for featuring and inviting lecturers/teachers with a proven results in the real world, as theory won’t cut it in the real world.
McIntyre, a controversial and outspoken figure who entered politics by founding his own political party in 2013- partly to help bring attention to the need for Australia to implement a modern day 21st century education system in schools and universities said, “it’s a joke that at times this industry and I have been attacked for overcharging for courses”. McIntyre’s courses range only from $3000-$10,000 with a 100% money back guarantee and zero government funding, not to mention, 85% plus completion rates- fully funded independent of the government.
Yet private colleges charge $12,000-$15,000 per course, which are often poorer in quality with completion rates below 25% and some as low as 2.4%. It is now widely believed that such colleges have ripped the government and students off billions.
McIntyre goes on to explain:
“We have done all of this without a single cent of government funding. We have added massive value to the country by motivating hundreds of thousands of our most ambitious and driven taxpayers and created massive increase in collective wealth for the nation at zero cost”.
One example of a success story, which Fairfax owned AFR ran on its front page was of Mark McDonald. Appster founders Mark McDonald and Josiah Humphrey started their successful business at 18 and 19 respectively by renting an office in Melbourne’s Rialto towers. The two entrepreneurs, now 23 and 24 respectively, are BRW Young Rich list’s youngest debutants with a combined wealth of $58 million AUD.
Four years ago McDonald attended a financial education seminar conducted by Jamie McIntyre and also sent in a testimony stating how the seminar inspired him to acquire office space in Rialto Towers since McIntyre emphasised the importance of work environment. His income had doubled in a short period of time after doing the seminar, namely due to a mindset shift around allowing more wealth into his life and taking massive action and not accepting that he was too young to be successful. It’s been four years and now he is worth $58 million at 23, employs over 250 staff and is building a billion dollar company.
Fairfax, have run a concerted smear campaign against McIntyre since he launched his own political party in 2013 and launched a national newspaper that has exposed the dodgy practices by Fairfax. The publishing company it seems had no idea that it was featuring one of the many success stories emerging from McIntyre’s programs.
McIntyre said, “it’s common sense that if more young Australians had access to the right type of education and mentors with a PhD in results who don’t accept excuses, instead of our 19th century out-dated school education taught by those with a PhD in theory and often with a socialist victim mentality, we could become the start up nation of the world.
“With the right education, we as a nation will become more productive, efficient and happier. Emotional and financial intelligence should be mandatory in the school curriculum and so should entrepreneurship.
“We could become a start up nation if we could only get more intelligent politicians into positions of power”.