P82 Adult Community and Other Education

Bias against vocational training needs fixing

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Original article by Rachel Baxendale
The Australian – Page: 6 : 21-Jan-19

Former New Zealand skills minister Steven Joyce is currently reviewing the vocational education and training sector for the federal government. Submissions to his review are due by 25 January, and he is due to present his findings in March. Joyce says it has become clear to him that there is a bias against VET in Australia in favour of universities, and that he was surprised about the lack of information on VET pathways being given to school leavers.

CORPORATES
AUSTRALIA. DEPT OF EDUCATION AND TRAINING, AUSTRALIAN LABOR PARTY

Barely any school students expect to do TAFE diploma

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Original article by Robert Bolton
The Australian Financial Review – Page: 8 : 1-Aug-18

Just 3.2 per cent of 15 year olds in 2015 expected that they would go on to study for a TAFE diploma, according to the latest available Program for International Student Assessment data. This compared to 6.2 per cent in 2008 and eight per cent in 2003. TAFE diplomas provide an entry point to jobs in sectors such as nursing and IT, and the lack of students expecting to undertake one will increase the need for workers from overseas to fill jobs in these sectors. Meanwhile, KPMG has just released a report that calls on the federal government to assume control over vocational education and training.

CORPORATES
KPMG AUSTRALIA PTY LTD THE AUSTRALIAN COUNCIL FOR EDUCATIONAL RESEARCH LIMITED

VET’s ‘poor cousin’ status must end

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Original article by Joanna Mather
The Australian Financial Review – Page: 12 : 29-Oct-15

The Federal Government should increase funding for vocational education and training (VET), says Business Council of Australia CEO Jennifer Westacott. She told the Higher Education Summit on 28 October 2015 that VET is as important as tertiary education and should be treated accordingly. Peter Noonan, a professorial fellow with the Mitchell Institute at Victoria University, advocates the introduction of a universal loan scheme for students and apprentices.

CORPORATES
BUSINESS COUNCIL OF AUSTRALIA, VICTORIA UNIVERSITY OF TECHNOLOGY. MITCHELL INSTITUTE FOR HEALTH AND EDUCATION POLICY

Government cracks down on dodgy private colleges

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Original article by Tim Dodd
The Australian Financial Review – Page: 11 : 16-Oct-15

The Australian Government has introduced a bill in Parliament to make it easier to cancel students loans that are issued under the VET FEE HELP scheme. Vocational Education and Skills Minister Luke Hartsuyker said on 15 October 2015 that said the bill will offer students more protection against unscrupulous private colleges.

CORPORATES
AUSTRALIA. DEPT OF EDUCATION AND TRAINING, AUSTRALIAN CAREERS NETWORK LIMITED – ASX ACO

Listed education sector needs investor reassurance: Intueri

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Original article by Simon Evans
The Australian Financial Review – Page: 31 : 24-Sep-15

Australian-listed education providers have a "credibility problem" which is reflected in their share prices. Rob Facer, the CEO of Intueri Education Group, says Vocation’s problems have made investors reluctant to invest in other listed education providers. Intueri’s share price has fallen to close to $A1, from $A3 in late 2014. Facer says the stock is now undervalued.

CORPORATES
VOCATION LIMITED – ASX VET, INTUERI EDUCATION GROUP LIMITED – ASX IQE, AROWANA INTERNATIONAL LIMITED – ASX AWN, NEW ZEALAND INSTITUTE OF SPORT, ONLINE COURSES AUSTRALIA, PHOENIX ENGLISH LANGUAGE ACADEMY, AUSTRALIAN CAREERS NETWORK LIMITED – ASX ACO

Vocation cuts back, rebrands in survival bid

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Original article by Simon Evans
The Australian Financial Review – Page: 1 & 9 : 2-Jun-15

Australian-listed Vocation will implement a five-point plan aimed at turning around its fortunes. The vocational education provider will adopt a new business name and rebrand several of its businesses, while more than 40 of its courses will be discontinued. CEO Stewart Cummins is confident that the group will become profitable in 2015-16. Vocation currently boasts just 160 employees, with its workforce cut due to asset sales and redundancies.

CORPORATES
VOCATION LIMITED – ASX VET, CUSTOMER SERVICE INSTITUTE OF AUSTRALIA, AVANA EDUCATION PTY LTD, REAL INSTITUTE PTY LTD, BAWM GROUP PTY LTD, ASPIN PTY LTD, ENDEAVOUR COLLEGE OF NATURAL HEALTH, STUDY GROUP INTERNATIONAL, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Vocation to replace name as part of company remake

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Original article by Simon Evans
The Australian Financial Review – Page: 22 : 30-Mar-15

Australian-listed Vocation hopes to put recent turmoil behind it by adopting a new business name. Options are believed to include the name of one of its existing businesses or completely new branding. The group has offloaded several of its vocational education businesses in order to reduce debt, and it is finalising the sale of the VETtrak software company. Stewart Cummins was appointed CEO in late March 2015

CORPORATES
VOCATION LIMITED – ASX VETAVANA EDUCATION PTY LTDREAL INSTITUTE PTY LTDCUSTOMER SERVICE INSTITUTE OF AUSTRALIAENDEAVOUR COLLEGE OF NATURAL HEALTHAUSTRALIAN SCHOOL OF MANAGEMENTAUSTRALIAN COLLEGE OF APPLIED EDUCATION PTY LTDVETTRAKWESTPAC BANKING CORPORATION – ASX WBCNATIONAL AUSTRALIA BANK LIMITED – ASX NABCOMMONWEALTH BANK OF AUSTRALIA – ASX CBASTUDY GROUP INTERNATIONALBAWM GROUP PTY LTDASPIN PTY LTD

Besieged Vocation crashes to $273m loss

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Original article by Simon Evans
The Australian Financial Review – Page: 18 : 3-Mar-15

Australian-listed Vocation has posted a 2014-15 interim loss of $A273m, following a loss of $A4m for the first half of 2013-14. The latest result was marred by impairment charges totalling $A241m. The vocational education provider has also been affected by a downturn in enrolments, and is seeking to offload some of its assets. Revenue rose by 9.3 per cent to $A57.7m

CORPORATES
VOCATION LIMITED – ASX VET, LEARNING VERVE PTY LTD, CUSTOMER SERVICE INSTITUTE OF AUSTRALIA, BAWM GROUP PTY LTD, ENDEAVOUR COLLEGE OF NATURAL HEALTH, AUSTRALIAN SCHOOL OF MANAGEMENT, 333 CAPITAL PTY LTD, KORDA MENTHA AND COLLEAGUES PTY LTD, LAUREATE INTERNATIONAL UNIVERSITIES

Battling Vocation in $245m write-down

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Original article by Simon Evans
The Australian Financial Review – Page: 16 : 24-Feb-15

Australian-listed education group Vocation insists that it will still be a viable business entity even after the sale of assets, which will reduce its size by two-thirds. The company’s shares resumed trading on 23 February 2015, after having been in a trading halt for five weeks. Vocation revealed that it has received more than 30 expressions of interest from potential buyers. The sale is likely to be completed in April

CORPORATES
VOCATION LIMITED – ASX VET, ENDEAVOUR COLLEGE OF NATURAL HEALTH, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC

AMP cautions against new US-style test

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Original article by Ruth Liew
The Australian Financial Review – Page: 17 : 20-Feb-15

AMP CEO Craig Meller says there is widespread acceptance of the need for better standards of education for Australian financial advisers. However, Meller has questioned the need for financial planners to undertake a national exam if they already have a university degree. The Australian Securities & Investments Commission recently proposed an exam system modelled on the Series 7 exam that is used in the US

CORPORATES
AMP LIMITED – ASX AMP, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, BT FINANCIAL GROUP PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC, ST GEORGE BANK LIMITED, BANK OF MELBOURNE LIMITED, BANK OF SOUTH AUSTRALIA LIMITED, FINANCIAL PLANNING ASSOCIATION OF AUSTRALIA LIMITED, FINANCIAL INDUSTRY REGULATORY AUTHORITY INCORPORATED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MACQUARIE PRIVATE WEALTH MANAGEMENT PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG