Consultation on Student Fee Protection Rule Change for Static Trust Provisions

Closed 14 Jul 2015

NZQA is consulting you on minor and technical changes to the Student Fee Protection Rules 2013 as a result of the Education Amendment Act 2015 (the Amendment Act) allowing the use of static trusts for the student withdrawal and refund period. This change is implementing enacted legislation and is a technical change. No one will be disadvantaged.

Why is NZQA making a change?

The Amendment Act was given Royal assent on 12 February 2015.

One of the amendments made permits PTEs to use static trusts to protect student fees during the student withdrawal and refund period.  Prior to that change static trusts could only be used after the end of the student withdrawal and refund period. A static trust must hold sufficient funds to cover a PTE’s student fee-related liabilities. The use of such trusts gives an opportunity for some PTEs to reduce compliance costs.

The proposed changes to the Student Fee Protection Rules 2013 are minor and technical.  They ensure the Rules are aligned with the Act in this respect.

How can I provide comment?

If you have any comment on the proposed changes please send it to us by 14 July 2015

Please send any comments to QADconsultation@nzqa.govt.nz

If you have any questions regarding the change, please contact Belinda Himiona, Manager, Quality Assurance Strategy, by email on Belinda.Himiona@nzqa.govt.nz.

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