by Lisa Luff

Created on: May 14, 2010

I won't speculate on the cost effectiveness of other countries but I do know that a college education undertaken within Australia is still very cost effective.

Actually, the recent economy crash that affected most of the known world recently and is still prevalent in many countries around the world today, reportedly Australia has risen from the ashes and is no longer in ecanomic trouble. Why? 

News reports tell us that (as Australians) we have been saved from a depression by International students. Hense college education is still cost effective to both the Australian government and the Australian people; giving our economy a much needed boost.

As far as cost effectiveness for the students themselves, yes it definitely is.
Education is so vital to the growth of the Australian economy that Kevin Rudd (in the latest budget) has promised to create 39,000 new training places for industries suffering from skills shortages. The National Skills Need List (NSNL) provides a list of these industries suffering shortages.

With so much funding now available to education providers, growth in education from 2010 – 2015 is expected to rise, with universities running scared; warned that the budget is tight and the government is focusing on reducing the deficit, due to the economy crash. Vocational Education (VET) providers (like us) now looking forward to the future of their colleges with a boundless optimism; Government funding providing a beacon for future growth.

A double edged sward, the funding covered under the “Victorian Training Guarantee” is an upgrade from previous funding available “ATTP and PETP”. ATTP and PETP funding sending colleges broke in the past, making the need for a strict operations system to manage the program, cardinal.

International colleges have developed an abominable persona, mainly over the last 12 months and the Australian government along with ACPET are trying to change that; aware of the enigma surrounding International colleges and the reasons they collapse.

This necessary step towards recognising skills shortage areas and the need for up-skilling the Australian workforce, is a powerful message of hope for International and private VET sector colleges.  We now have the means to contribute to the Australian economy on a larger scale; with the Australian government contributing $660 million for investment in skills and job creation. I implore International and Private VET sector colleges to take up the challenge, re-invent the wheel and aspire to something more.

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