Deposits to insure students' tuition safe
By Liang Yiwen |
April 13, 2012, Friday
|
Print Edition
Print Edition
A long-awaited deposit system to shield students from tuition losses in case of training schools' sudden closure is about to come into effect.
Sudden closure of education institutes or disappearance of the boss has happened in the city frequently, leaving students and teachers with no recourse. The training market watchdog has ordered education institutes to pay a special deposit, which cannot be used for daily operation but will be used to cover students in the event of closure.
The law takes effect May 1.
The deposit amounts to 10 percent of the tuition and fees charged to students, and no less than 100,000 yuan (US$15,861). Education institutes must bank all the tuition and fees charged from students. Banks will supervise the accounts and alert the government when the remaining sum is insufficient.
Those who fail to make the deposits and refuse to rectify will be banned from admitting students and could face criminal charges, according to the regulation.
"It is good for the long-term development of the whole industry, especially for the benefit of the students," said a representative of a big English-language training center that declined to be named. "We support policies that protect customers' rights and increase consumer confidence."
In the past few years, thousands of students have been left scrambling after sudden closures of training schools.
Hundreds were affected last October when a software training institute, Shanghai Weixun Tianda Software Training Institute, faced financial problems and the college boss ran off.
Sudden closure of education institutes or disappearance of the boss has happened in the city frequently, leaving students and teachers with no recourse. The training market watchdog has ordered education institutes to pay a special deposit, which cannot be used for daily operation but will be used to cover students in the event of closure.
The law takes effect May 1.
The deposit amounts to 10 percent of the tuition and fees charged to students, and no less than 100,000 yuan (US$15,861). Education institutes must bank all the tuition and fees charged from students. Banks will supervise the accounts and alert the government when the remaining sum is insufficient.
Those who fail to make the deposits and refuse to rectify will be banned from admitting students and could face criminal charges, according to the regulation.
"It is good for the long-term development of the whole industry, especially for the benefit of the students," said a representative of a big English-language training center that declined to be named. "We support policies that protect customers' rights and increase consumer confidence."
In the past few years, thousands of students have been left scrambling after sudden closures of training schools.
Hundreds were affected last October when a software training institute, Shanghai Weixun Tianda Software Training Institute, faced financial problems and the college boss ran off.
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