Karina Barrymore: Dodgy education providers are giving Australia a bad name

There’s one investment that will keep rewarding you regardless of the state of the economy or financial markets. You just have to watch out for the sharks, writes Karina Barrymore.

Education comes at a cost, but can have significant benefits.

Let’s talk about the best investment anyone can ever make. Education.

True, most only think of it in terms of their children rather than themselves, but education at any age offers priceless returns.

It is the one investment that keeps rewarding, regardless of the economy, the financial markets or your current income.

Knowledge is something that once acquired, keeps multiplying — and just like compounding interest, knowledge builds on knowledge.

Of course, there is the debate about the purpose of education. Is an education to create a more fulfilled life and broaden horizons, or is education’s primary purpose to qualify for a job — or a higher-paying job?

Regardless of your reason for education, unfortunately knowledge is increasingly becoming something we can be ripped off trying to get.

There is a multibillion-dollar industry built around offering substandard education to those trying to do the best for themselves and their children.

Private education and training providers often collude with students to encourage them into government-sponsored programs.

This is not in the best interest of the student but in the best interest of the education company — because it is focused on retaining the income stream of government funding.

In many cases, these students were not and would never be suitable for the course being offered.

Sadly, they then go on to fail, through no fault of their own, and then when a more suitable course comes up, they no longer qualify for government funding. Similar accusations of ripoffs can be levelled at some of our largest universities, especially with regard to international students.

Some of these fee-seeking universities fudge entry requirements so they can maximise the number of private fee-paying students.

When entry requirements are lowered, the likelihood of student success is also lowered.

Minimum English language skills are a key area for universities to rip off their students.

These institutions feel nothing about taking the money from these hardworking and often poor overseas families with a false promises of a western education and a good future, despite their lack of English.

When the student fails, the universities turn their backs and sign up another unsuspecting family.

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Now, however, we have an even greater threat to the quality and reputation of our training and education. We are hearing rumblings from industry and private training providers they want shorter programs and a faster turnaround of students.

Employers say they can’t get qualified staff, so they want to streamline the students to just do the bits that they need.

No consideration is given to the students’ future needs, or having a rounded education. They just want cookie-cutter courses to churn out instant workers.

And, no surprise here, the training and education organisations are all for it. More students and fees to fast track through the system and boost profits.

What we really need is more free education about how to not be ripped off by our education providers.