James Cook University taken to Supreme Court by Townsville graduates of ‘unaccredited’ Financial Planning course

A major Queensland university is in hot water, with 20 Queensland students filing a class action claiming their Financial Planning course was taught for two years while unaccredited, leaving them underqualified.

A major national university is in hot water with 20 Queensland students filing a class action claiming their Financial Planning course was taught for two years while unaccredited.

The students claim the lack of accreditation for the course at James Cook University in Townsville in North Queensland was not mentioned during promotional presentations, in brochures, on the JCU website, and in emails and meetings with university staff.

Leading the lawsuit is 26-year-old Samuel Boon who was studying a Bachelor of Commerce and took the eight-unit Financial Planning course as his major, costing an extra $11,000.

Mr Boon claims he was set to score a job as a financial adviser with a $100,000 salary once graduated, but is now earning half that amount after allegedly discovering the Financial Planning course was unaccredited when he took it in 2019, making him underqualified.

Samuel Boon is leading the class action against James Cook University. Photo: Scott Radford-Chisholm.

Mr Boon and 19 other students who took the unaccredited course are seeking aggravated damages from the university for the alleged “breach of contract and negligence”.

“There was substantial risk that the plaintiff (Mr Boon) and group members (other students) would enrol in the major contrary to their interests, would not be able to practise as a financial adviser or planner upon graduation, and would incur loss and damage as a result,” the statement of claim filed in Brisbane Supreme Court this month said.

“They (students) could not sit the (financial adviser) exam until they received the revised academic record.

“As a result of not being able to sit the exam and complete their professional year, the plaintiff and group members lost income and lost opportunity to advance their careers.”

The course was finally accredited in July 2022, but the students involved were not eligible to sit the financial adviser exam until October 2022.

Students claim they contacted JCU with their concerns immediately after discovering the course was unaccredited in late 2019.

Mr Boon said he sent complaints to the university and got no response, until a meeting was organised in May 2021 – two months after he graduated.

James Cook University is ranked in the world’s top 300 universities. The Financial Planning course was taught at its Townsville campus. Photo: Supplied.

Another student, Townsville local Lachlan Keevers, 24, started at JCU in 2017 studying a Bachelor of Law and Business. In mid-2018 he was approached by JCU about the new Financial Advising major.

“They spoke to us about it, they said it was a fully accredited major,” he said.

“If I wanted to start the major, I had to drop my Bachelor of Law degree, which I did ... prior to this there had been nothing like it in North Queensland.”

Mr Keevers said towards the end of 2020, word started getting around among students that there were concerns the course was not accredited.

“My exact thoughts were that this will affect students finishing their study now, I was only halfway through my course, so I thought I should be fine,” he said.

“Some students lost their jobs because their employers said they weren’t going to pay them as a junior financial adviser when they were not (due to accreditation issues).”

Mr Keevers finished his study in May 2022 and found work as an accountant. He is about to start a new job requiring him to spend days away from his family.

“What I could have earned as a financial adviser in (Townsville) at home with my family, I now have to seek at the mines just to set myself up ... and not that I don’t like the job I’m starting, but it is two-and-a-half hours’ drive away and it is four days on and three days off,” he said.

Mr Keevers said he and fellow students on the lawsuit want an admission from JCU and some compensation for what they went through mentally and emotionally.

Solicitor Duke Myrteza of Australian Law Partners is acting for the plaintiffs in the class action.

Mr Myrteza alleged the course was being advertised as accredited while it was unaccredited.

He said the university had so far declined to provide a list of all students who had taken the unaccredited course, and has not ruled out more students joining the class action.

“These are young people who are starting out in life, it’s a big deal to study for three years,” he said.

Mr Boon said he wants adequate compensation for his alleged financial loss, an apology from JCU, and an internal review into how the unaccredited course was advertised and offered.

“People talk about their university days being a good time during their life but now the passions of graduation have left a foul taste in my mouth,” he said.

“I just don’t want any other students to go through what I went through.”

A JCU spokesman said when the course was accredited, enrolled students were transitioned to the newly accredited program, while graduated students received an accredited degree.

“The University offered all affected graduates the opportunity to obtain additional and higher qualifications at JCU’s expense,” he said.

“JCU arranged for students to participate in a Graduate Diploma in Financial Planning with Deakin University. JCU met the tuition fees for students who took up this option.

“Students have been offered further financial and emotional support, which some have accepted.

“JCU was in regular contact with affected students and graduates throughout the accreditation process, providing them with updates on the matter.”