1. The purpose of this policy and procedure is to outline Institute of Advisors Pty Ltd’s approach to managing fees and refunds and to demonstrate how fees paid in advance are protected by Institute of Advisors Pty Ltd.
2. This complies with Clauses 5.3, 7.3 and Schedule 6 of the Standards.
ASQA means Australian Skills Quality Authority, the national VET regulator and the RTO’s registering body
Standards means the Standards for Registered Training Organisations (RTOs) 2015 from the VET Quality Framework
3. Fees and refund information
Prospective and current students are advised of the fees associated with a course on the relevant Course Outline and on the Student Agreement. In compliance with Clause 5.3 of the Standards, this is provided prior to enrolment or commencement of training, whichever is first. Fee information includes:
• All relevant fee information including fees that must be paid and payment terms
• Deposits and refund information and conditions relating to these
• The learners rights as a consumer including any cooling off period (if applicable)
Refund information is outlined on the Student Agreement and in the Student Handbook.
4. Inclusions in course fees
Unless otherwise specified, course fees include all the training and assessment required for students to achieve the qualification or course in which they are enrolling.
No GST applies to nationally recognised training.
Course fees include electronic copies of the required text books and learning materials for each student. Any optional textbooks and materials that may be recommended but not required for a course, are not included in course fees and will be an additional cost should the student wish to purchase such materials.
Course fees for nationally accredited course include the issuance of a testamur and record of results and/or statement of attainment. For additional copies or re-issuing of any of these documents an additional fee is applicable. This fee is currently $60 per request.
Re-enrolment is charged at $200 per unit (for training and assessment). Re-assessment (where training is not required) is charged at $100 per unit.
5. Credit and Recognition of Prior Learning (RPL)
There are no costs for applying for or achieving a Credit outcome against units of competency. Course fees may be reduced where student requires less training services to achieve the remaining units of competency due to achieving credit for one or more units.
Recognition of Prior Learning applications incur a $200 application fee. Students will be provided with a quote based on units to be assessed via RPL, at a cost of $150 per unit. Where gap training needs are identified to complete the qualification, course fees will be charged on a pro-rata per unit basis ($180 per unit completed via training and assessment).
6. Late payments
Students who are experiencing difficulty in paying their fees are invited to call our office to make alternative arrangements for payment during their period of difficulty.
Debts will be referred to a debt collection agency where fees are more than 40 days past due. Institute of Advisors Pty Ltd reserves the right to suspend the provision of training and/or other services until fees are brought up to date. Students with long term outstanding accounts may be withdrawn from their course if payments have not been received and no alternative arrangements for payment have been made.
All course fees, include a non-refundable deposit / enrolment fee which is outlined on the Course Outline. The deposit is non-refundable except in the unlikely situation where Institute of Advisors Pty Ltd is required to cancel a course due to insufficient numbers or for other unforeseen circumstances. In this case, students will receive a full refund of their deposit.
Students who withdraw from a course and wish to seek a refund or have the amount they owe on their fees reduced, must apply to Institute of Advisors Pty Ltd in writing, outlining the details and reason for their request. Students who have not completed a withdrawal form are not eligible for consideration of a refund or reduction in fees.
Eligibility for a refund will be assessed based on the services provided to the student and the costs incurred by Institute of Advisors Pty Ltd in order to provide those services to the student.
The outcome of the refund assessment will be provided in writing to the student’s registered address, outlining the decision and reasons for the decision along with any applicable refund or adjustment notice. Refund assessments can be appealed following our Complaints and Appeals Policy and Procedure.