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Thursday, 2 June 1994
Page: 1282

(Question No. 1387)

Senator Bell asked the Minister for Employment, Education and Training, upon notice, on 10 May 1994:

  (1) How many institutions applied for loans from the department following the Government's decision to tighten criteria under which student visas were granted in 1989.

  (2) How many loans have been granted.

  (3) What was the proportion provided in relation to the actual amount sought.

  (4) What institutions applied for loans, and for how much.

  (5) What institutions were granted loans, and for how much.

Senator Schacht —The Minister for Employment, Education and Training has provided the following answer to the honourable senator's question:

  (1) Ten institutions applied for short-term financial assistance from the Commonwealth. These institutions did not apply for a specific amount by way of a loan but were initially required to lodge a claim for financial assistance and agree to the Commonwealth's consulting accountants undertaking an assessment of their financial positions.

  (2) Five loans were offered subject to the institutions' agreeing to the preconditions to contract. One loan was taken up.

  (3) For the loan taken up, 100% of the amount agreed to was provided.

  (4) The following institutions lodged claims for temporary financial assistance from the Commonwealth. The amounts listed are those which were estimated by the consulting accountants to be necessary to cover the institutions' short-term cash flow problems.


  Australian Training & Education Centres Pty Ltd—$2.9 million

  International House Pty Ltd—$5.0 million

  Key International College Pty Ltd—$1.8 million

  The Typing Centre of NSW Pty Ltd—$420,000


  Academy of English in Australia (Kobura Pty Ltd)—$2.0 million

  Australian College of Travel & Hospitality (Waierra P/L)—$743,000

  Hales Colleges (Malvern Dale Pty Ltd)—$4.6 million


  The Buckland College Pty Ltd—$900,000

  Australian Business College—$341,000

  Metropolitan Business College—$122,000

  (5) One of the institutions, The Buckland College Pty Ltd, was approved to receive a loan and agreed to the preconditions to contract. A loan of $900,000 was made.