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Definition of ASTAS for Students
ACPET offers tuition assurance protection to students in the event that a student is unable to complete a course as a result of the insolvency of a Registered Training Organisation (RTO). Tuition Assurance relates to that portion of a student’s tuition fees that were paid in advance of that tuition.
The Scheme offers two choices. When an RTO ceases to trade, students can request to continue their study in a comparable course with an alternative provider, or to discontinue with their studies and obtain a refund for the fees prepaid but unutilised. The ASTAS is underpinned by an Insurance Policy and all refunds are carried out in accordance with this policy.
The Insurance Policy does not provide for the full refund of all fees as at the date of payment of those fees. Rather, the policy operates based on the effluxion of time, from the commencement of your enrolment to your expected completion date.
The policy will pay out the proportion of your course fees, calculated from the date of your provider’s insolvency. That is, the proportion of unutilised fees left as at the date of insolvency.
This effectively means that if you paid 100% of your course fees in advance and are half way through the time agreed for your course, you would receive 50% of your fees, subject to the other terms and conditions in the policy.