Following "a federal government crackdown on the scandal-plagued vocational education sector," thousands of Australian students have been left with large debts and unable to complete their studies. It's a fairly typical story: "The group's collapse comes despite Global Intellectual Holdings making a profit of $17.95 million in 2015. During the year it paid $14 million in dividends to its directors Roger Williams and Aloi Burgess. The accounts show the company held $19 million in debt." This underscores the danger of placing a public trust like education into private hands, especially if there's government funding involved. Those concerned about the future of the TAFE system in Australia will no doubt have taken note.
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