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(November 10, 2010) THE Federal Government will inject $25 million into a fund that compensates foreign students in the event of college collapses, as the international education sector braces itself for a downturn. The funding was announced in the mid-year economic and fiscal outlook, released yesterday. The money will be provided over two years and will be drawn down only if required, the document says. International education is Australia's fourth most valuable export industry, and was worth $18 billion last year. But universities and colleges are already experiencing a decline in new enrolments, which they fear will worsen, due to a combination of factors including the high Australian dollar, changes to migration rules and negative publicity over a number of attacks on Indian students. The funding will be redirected from the skills training budget. (Source:theAge.com.au) |
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